Genova Biotherapeutics GVBP Stock Halted

As you might know, GENova Biotherapeutics Inc. (GVBP.OB) stock has been halted/suspended for trading which started September 23, 2009. After further research, I found that the SEC plans to suspend GVBP until at least 10/6/09.


This all started when the company went on a PR parade which ended when the company abruptly terminated one of their partnerships.


Shares of Genova Biotherapeutics Inc. then traded down 2 1/2 days before it was subject to a trading halt.



It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Genova Biotherapeutics Inc. (“Genova”).

Genova is incorporated under the laws of Nevada and has its primary headquarters in New York, New York. Questions have arisen regarding stock promotional activity for Genova and the adequacy and accuracy of press releases, financial statements, and statements on the company’s website concerning the company’s current financial condition, business and operations, and stock promoting activity.

The Commission is of the opinion that the public interest and the protection of investors require a suspension of trading in Genova’s securities.THEREFORE, IT IS ORDERED, pursuant to Section 12(k) of the Securities Exchange Act of 1934, that trading in the securities of the above-listed company is suspended for the period from 9:30 a.m. EST, on September 23, 2009 through 11:59 p.m. EST, on October 6, 2009.

http://sec.gov/litigation/suspensions/2009/34-60708-o.pdf

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Genova Biotherapeutics signs Deal with Bridge

September 15, 2009 - Shares of Genova Biotherapeutics, Inc. (GVBP.OB) are set to have another active day after the company issued a press release after the bell tonight. GVBP stock is up over 150% in the past week.

GENova Biotherapeutics signs collaboration agreement with Bridge Bioresearch

GENova Biotherapeutics Inc. ("GENova") today announced it has signed a collaboration agreement with Bridge Bioresearch Plc. ("Bridge Bioresearch"), an international drug development and discovery company that focuses on metabolic disorders.

The two biotechnology drug acquisition companies plan to leverage each others' scientific findings and industry contacts for mutual gain.

GENova's business solely focuses on cancer cures, while Bridge BioResearch is geared at acquiring drug targets for Obesity and Type 2 Diabetes. Through the collaboration agreement, the two companies will partner to share research results and their global contacts with research organizations and pharmaceutical companies. They will also examine their findings to gain insight into the links between their respective fields of oncology and obesity, as cancer and obesity are both maladies that can be blamed on lifestyle choices. Full Article

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