Message #24 From:
NewsBot Date: February 14, 2007 01:00:00 PM
PANC News Panacos to Report Fourth Quarter and Year-End Results for 2006
WATERTOWN, Mass.--(BUSINESS WIRE)--Panacos Pharmaceuticals, Inc. (Nasdaq:PANC), a biotechnology company dedicated to developing the next generation of antiviral therapeutic products, announced today that the Company will report its fourth quarter and full year 2006 financial results after the U.S. Financial Markets close on Wednesday, February 21, 2007. Following the announcement, Panacos will hold a conference call to discuss the results and provide an update on the Company's development programs. Alan W. Dunton, M.D., Chief Executive Officer will host the call.
The conference call can be accessed via the web at www.panacos.com or by calling the conference dial-in between 4:15 and 4:25 p.m. and entering the passcode 74142782. A replay of the conference call will be available from 6:30 p.m. February 21, 2007 until Friday, March 23, 2007, and can be accessed via the web at www.panacos.com or by dialing toll-free (888) 286-8010, and outside the U.S. (617) 801-6888 with passcode 19658792.
About Panacos
Panacos is developing the next generation of anti-infective products through discovery and development of small molecule oral drugs for the treatment of HIV and other major human viral diseases. HIV infects approximately 1.7 million people in North America and Western Europe and approximately 40 million people worldwide. Approximately 650,000 patients are treated annually for HIV in the United States and Western Europe. Resistance to currently available drugs is one of the most pressing problems in HIV therapy and the leading cause of treatment failure. Panacos' proprietary discovery technologies are designed to combat resistance by focusing on novel targets in the virus life cycle, including virus maturation and virus fusion.
Panacos' lead candidate, bevirimat (PA-457), is the first in a new class of oral HIV therapeutics under development called maturation inhibitors, discovered by Panacos scientists and their academic collaborators. Based on its novel mechanism of action, bevirimat is designed to have potent activity against a broad range of HIV strains, including those that are resistant to existing classes of drugs. The Company has completed seven clinical studies of bevirimat in over 300 subjects, showing significant reductions in viral load in HIV-infected subjects and a promising safety profile, and is currently in Phase 2b clinical trials.
