Following the news of an agreement with Rox San Pharmacy and completion of Protocol for the Clinical Trial for Tropine 3, the shares of Pristine Solutions (OTC: PRTN) continued the upward journey with a 76% gain from an intra-day low of $0.17 on September 4, 2012.
Pristine Solutions came into the lime light nearly two weeks ago when it completed the acquisition of Eaton Scientific Systems. Eaton, involved in the development of biomedical products, is currently focused on health solutions for women. The company has developed and filed a patent for a variant of the FDA approved drug, homatropine. The drug, named Tropine 3, is specified for the non-hormonal treatment of hot flashes in pre and postmenopausal women. Pristine is setting up a top-level management and a science advisory team to take forward the clinical testing of Tropine 3.
On August 28, 2012, Pristine, through its wholly owned subsidiary Eaton, announced select details of its planned multi-phase, multi-location clinic trials for FDA approval of Tropine 3. Pristine has plans to publish the results in medical journals and women’s health publications. Following the first Phase 1-2 clinical trial, the company also intends to start marketing Tropine 3 to pharmaceutical companies.
On August 31, 2012, Dr. Hootan Melamed, whose family owns Rox San Pharmacy commented, “Over the last six years, the Rox San Pharmacy team has been compounding Tropine 3 for Southern California doctors that prescribe the drug to their patients for the treatment of hot flashes. Based on our interactions with the doctors and patients, it is our belief that Tropine 3 users have had a generally very positive response to the drug with no pronounced negative side-effects”. With over 40 years of experience in preparing custom, high-quality compounded and manufactured medications, Rox San Pharmacy is the original compounding pharmacy for Tropine 3.
Four days later, the share price dropped from $0.42 to touch a low of $0.17 before closing at $0.24 by the end of the trading day. Later, on the same day, Eaton announced that to support planned FDA compliant clinical trial participants, it has entered into an agreement with Rox San Pharmacy to provide continued specialized compound prescription of Tropine 3. The next trading day saw a rally up to $0.30 a share. On September 6, the technical support level of $0.25 was re-tested. On the same day, Eaton also announced the completion of the protocol for the clinical trial for Tropine 3. The news triggered an 18% rally to end the day at $0.30 a share on a volume of 3.7 million shares. A positive report of the clinical trial may induce a further rally in the stock price.