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Last $0.08 USD
Change Today 0.00 / 0.00%
Volume 0.0
ISLT On Other Exchanges
As of 8:10 PM 10/9/15 All times are local (Market data is delayed by at least 15 minutes).

islet sciences inc (ISLT) Snapshot

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02/4/15 - $0.38
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08/21/15 - $0.02
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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

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Executives, Board Directors

islet sciences inc (ISLT) Key Developments

Islet Sciences, Inc. Announces Management Changes

Islet Sciences, Inc. announced that the following individuals were elected to the Board, with immediate effect: Larry K. Ellingson, Eugene M. Mannheimer, Richard D. Pilnik, Gary R. Keeling and James A. Harper, with Mr. Ellingson elected Chairman of the Board. The Written Consent further resolved that Messrs. Ellingson, Mannheimer, Pilnik, Keeling and Harper were to succeed James Green, William T. Wilkison, James Snapper, Antonio O'Ferral and Larry Hutchison as directors. John Steel was not succeeded by a New Director and shall remain a director until he resigns, is replaced, removed or otherwise terminated. Larry K. Ellingson, 69, was appointed President and Chief Executive Officer of the Company on September 24, 2015. Mr. Ellingson has not previously held a position with the Company or any of its subsidiaries. James A. Harper, 68, was appointed Chief Operating Officer and Secretary of the Company on September 28, 2015. Mr. Harper has not previously held a position with the Company or any of its subsidiaries.

Islet Sciences, Inc Announces Resignation of Executive Officers

On July 22, 2015, Islet Sciences, Inc. announced resignation of Steven Delmar as Chief Financial Officer of the company and all subsidiaries effective August 15, 2015. On July 23, 2015, Mr. James Green also resigned as Chief Executive Officer of the company and all subsidiaries effective August 22, 2015. On July 23, 2015, Dr. William Wilkison resigned as Chief Operating Officer of the company and all subsidiaries effective August 22, 2015. Wilkison did not resign from the board of directors.

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.


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