Thursday, August 26, 2010

Day Trader's Alert: GOK, RPC, CEPH

Geokinetics Inc. (AMEX: GOK) today announced that Petroleos Mexicanos (PEMEX) has awarded its Mexican subsidiary a seismic acquisition contract valued in excess of $110 million for work in Mexico. The project will be for a seamless Ocean Bottom Cable, Transition Zone and land seismic data acquisition survey that is scheduled to commence late in the fourth quarter 2010 and last through early 2012. Richard F. Miles, President and Chief Executive Officer, commented, "We are especially pleased to have been chosen for this project as this award highlights the strategic rationale behind our recent acquisition of PGS Onshore. Shares of Geokinetics Inc., surged as much as 30% in morning trading.

Radient Pharmaceuticals Corporation (AMEX: RPC) announced today target market details for the domestic and international commercialization of its Onko-Sure in vitro diagnostic cancer test. RPC received USFDA for its Onko-Sure IVD cancer test approximately 24 months ago, which marked the point at which RPC could begin commercialization. Since that time a considerable amount of work has gone into creating a domestic & international distribution network, plus the highly effort of validating RPC's USFDA approved Onko-Sure test kits with oncologists, gastroenterologist and lab directors. RPC has added various needed validation tools that include the first edition of RPC's 2010 Onko-Sure Reference Guide for physicians, oncologists, clinicians, consumers and patients,  designed to significantly gain sales traction for Onko-Sure in North America and other international markets. The Company is also working on additional clinical trials and inclusion in industry publications to determine the standard of care for cancer diagnosis and targeting additional validation tools, which are anticipated to be in place by year-end. The Company is now in a position to begin making significant headway in commercializing Onko-Sure in target market. Shares of Radient Pharmaceuticals Corporation, soared as much as 41% in morning trading.

Cephalon, Inc., (NASDAQ: CEPH) today announced Frank Baldino, Jr., Ph.D., the company's Chairman and Chief Executive Officer, will take a temporary medical leave of absence, effective immediately. During Dr. Baldino's absence, J. Kevin Buchi, the company's Chief Operating Officer, will assume Dr. Baldino's responsibilities. Prior to assuming the newly-created role of Chief Operating Officer earlier this year, Mr. Buchi served as the company's Chief Financial Officer for 14 years. He has been with Cephalon for almost 20 years. William P. Egan, Cephalon's Presiding Director, said, "Kevin has the complete confidence and full support of the Board as he manages the company's operations until Frank's anticipated return later this year. In order to provide Frank and his family the privacy that they deserve, we will not be commenting further." Shares of Cephalon, Inc., slumped as much as 2% in morning trading.

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