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Last $0.06 USD
Change Today +0.004 / 7.69%
Volume 5.0K
ISLT On Other Exchanges
As of 8:10 PM 07/27/15 All times are local (Market data is delayed by at least 15 minutes).

islet sciences inc (ISLT) Snapshot

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09/10/14 - $0.39
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07/24/15 - $0.05
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islet sciences inc (ISLT) Details

Islet Sciences, Inc., a biotechnology company, is engaged in the research, development, and commercialization of new medicines and technologies for the treatment of metabolic diseases and related indications covering unmet medical needs. The company offers ISLT-P, an implantable suspension of encapsulated insulin-producing porcine islet cells for the treatment of insulin-dependent diabetes; ISLT-2669, a novel lead IL-12 small molecule inhibitor selected for preclinical development for treatment of type 2 diabetes; and ISLT-LSF Analogs, a library of small molecule lisofylline analogs that block inflammatory actions of cytokines, which destroy insulin-producing beta cells for diabetes and diabetes-related complications. It is also involved in developing ISLT-Bdx, a PCR based molecular diagnostic measuring hypomethylated beta cell-derived DNA as a biomarker of beta cell loss for the early detection of type 1 diabetes or onset of insulin dependent type 2 diabetes. In addition, the company develops Remogliflozin, a selective SGLT2 inhibitor in Phase II clinical development for type 2 diabetes and nonalcoholic steatohepatitis. Islet Sciences, Inc. was founded in 2010 and is based in Raleigh, North Carolina.

3 Employees
Last Reported Date: 07/28/14
Founded in 2010

islet sciences inc (ISLT) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: $75.0K
Chief Operating Officer, Director and Chairma...
Total Annual Compensation: $75.0K
Compensation as of Fiscal Year 2014.

islet sciences inc (ISLT) Key Developments

Islet Sciences, Inc. Receives the Temporary Restraining Order from the District Court, Clark County, Nevada

On June 30, 2015 petitioners John Steel (a Director of Islet), Jonathan Lakey, Edward T. Gibstein, Anthony Reed, Robert Bantle, D&D Funding Florida, LLC, and Stephen Cohen filed a lawsuit in the District Court, Clark County Nevada to order a shareholders meeting and to issue a temporary restraining order. A hearing was held on July 6, 2015 and on July 7, 2015 the court ordered a shareholders meeting to be held within sixty days and agreed to the petitioners request for a temporary restraining order pending the receipt of security for the temporary restraining order and the order itself. On July 14, 2015, Islet Sciences, Inc. received the temporary restraining Order from the District Court, Clark County, Nevada. The order restrains and enjoins the company from taking any actions outside the ordinary course of business and from undertaking any further transfers or encumbrances of the company’s assets, or taking any actions which might be dilutive to current shareholders. The company intends to defend against this action and believes it is without merit. There is a hearing on the petitioner’s motion for preliminary injunction on July 20, 2015.

Islet Sciences, Inc. Publishes Data Supporting Remogliflozin Etabonate as a Potential Treatment for NAFLD and NASH

Islet Sciences, Inc. has announced publication of pre-clinical data that demonstrates remogliflozin etabonate has significant potential as a novel therapeutic for the treatment of non-alcoholic fatty liver disease (NAFLD) and non-alcoholic steatohepatitis (NASH). Data published in the Journal of Clinical and Experimental Hepatology show that treatment with remogliflozin etabonate for four weeks in a mouse model of NAFLD inhibited high fat diet-induced weight gain, reduced fat accumulation in the liver, and reduced serum alanine aminotransferase and aspartate aminotransferase to normal or near normal levels. In addition, remogliflozin etabonate treated animals displayed decreased inflammation in the liver, as well as lower oxidative stress. Data from this study also showed that remogliflozin has significant intrinsic anti-oxidant activity. These data along with published clinical data showing remogliflozin etabonate's ability to improve insulin sensitivity, reduce weight and lower elevated liver enzymes, strongly suggest remogliflozin etabonate as a possible therapeutic for NAFLD/NASH.

Islet Sciences, Inc. Announces Board Changes

On April 24, 2015, Dr. James Snapper was appointed as a director of Islet Sciences, Inc. Dr. Snapper is currently a Professor of Medicine at the Duke University School of Medicine, has extensive experience in the pharmaceutical industry and is an internationally recognized expert in the field of translational medicine. Jim is the recipient of many NIH grants and author of numerous scientific publications. On April 24, 2015, Larry Hutchison was appointed as a director of the company. Mr. Hutchison is currently president and CEO of Petrobeam. Mr. Hutchison is also a principal of TA Capital Ltd. Larry spent 35 years at United Parcel Service of America (UPS) in various roles of increasing responsibility. During that time Mr. Hutchison was responsible for various domestic and international operations, including UPS's expansion into the European Union. On April 24, 2015, Antonio O'Ferral was appointed as a director of the company. Mr. O'Ferral has over 15 years of commercial experience in the pharmaceutical, biotechnology and medical device industry with a focus on diabetes and metabolic disease. Mr. O'Ferral is currently in a senior sales manager role at Asante Solutions, Inc. where he is responsible for commercial strategy and sales for the snap insulin pump. Antonio is also on the board and vice president of Outreach at the Triangle Chapter of the Juvenile Diabetes Research Foundation (JDRF). Prior to Asante, Antonio held various positions of increasing responsibility at Insulet and Eli Lilly. On March 18, 2015, Joel Perlin, a member of the company’s Board of Directors and the Avogenx, Inc. Board of Directors, resigned from each Board to devote time to other matters. Mr. Perlin's resignation was not the result of any disagreement with the company on any matter relating to the company's operations, policies or practices. Mr. Perlin was on the audit, compensation, and nominating committees. On March 26, 2015, Dr. Michael Luther, a member of the company’s board of directors and the Avogenx, Inc. board of directors, resigned from each Board. In his resignation letter, Dr. Luther stated he did not have the time required to contribute as a board member to ensure that Islet achieves its goals. Mr. Luther's resignation was not the result of any disagreement with the company on any matter relating to the company's operations, policies or practices. Dr. Luther was the chairman of the compensation committee.


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