SARASOTA, Fla., Nov. 3, 2004 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.:
HEE Corporation (Pink Sheets:HCCF), StemCells, Inc. (Nasdaq:STEM) and Millennium Pharmaceuticals, Inc. (Nasdaq:MLNM).
Investors will surely want to keep an eye on HEE Corporation (Pink Sheets:HCCF). HEE Corporation announced after the closing bell on Tuesday that their proprietary diabetic treatment product, HPB-84, will be the subject of a double blinded placebo controlled clinical trial at a major university. Double blinded placebo controlled clinical studies are the "gold standard" for any new medical procedure, drug, or treatment protocol.
The HEE Corporation was founded for the purpose of testing and marketing a new and extremely promising neutriceutical treatment for Type II Diabetes. HEE has acquired the worldwide distribution rights for this diabetic treatment. In the United States alone, 18.2 million people have diabetes. Diabetes is the fifth leading cause of death by disease in the U.S.
HCCF currently trades at around .07 a share.
Other Stocks showing interesting activity on Tuesday were;
StemCells, Inc. (Nasdaq:STEM)
Shares of StemCells, Inc. traded on volume of over 60 million shares on Tuesday and closed at $4.11, and was trading higher in the after hours market at $4.25, boosted by U.S. election hopes. StemCells, Inc., a company focusing on stem cells taken from adult tissues to use to treat diseases of the central nervous system, liver and pancreas, recently announced that it has consummated the private placement of 7,500,000 shares of its registered common stock at a purchase price of $3.00 per share, for gross proceeds to StemCells, Inc. of $22.5 million.
Millennium Pharmaceuticals, Inc. (Nasdaq:MLNM)
Biopharmaceutical company Millennium Pharmaceuticals announced after the closing bell Tuesday that its VELCADE has been granted fast track designation for relapsed and refractory mantle cell lymphoma by the FDA. VELCADE is approved for the treatment of multiple myeloma patients who have received at least two prior therapies and have demonstrated disease progression on the last therapy.
MLNM closed Tuesday's regular trading session at $12.68, on volume of 2.7 million shares. The stock was trading higher at $13.08 in the after hours market.
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