Power3 Medical Products, (OTCBB: PWRM.OB) is a leading edge biotechnology company engaged in the early detection, monitoring, and targeting of diseases through the analysis of proteins. This dynamic team utilizes proteomics in the discovery of protein biomarkers, drug pathways, and mechanisms of disease.

PWRM’s technology has the potential to be used to develop new drugs based upon the precise differences between diseased-related and healthy-related protein footprints. New drugs can be engineered to hone in on the changed protein structures and alter them. Power3 uses proteomics for the specific identification of proteins involved in a disease to provide usable products to address unmet needs and new treatment options. This platform has specific application in the area of drug resistance to chemotherapeutic agents in cancer. By the time development of resistance to chemotherapeutic agents is detected, it is usually too late to save the patient. Power3’s technology can be used to detect drug resistance before treatment and engineer drugs to kill both sensitive and resistant cancer to prevent recurrence.

Alkermes, Inc. (NASDAQ: ALKS) announced that the supplemental New Drug Application (sNDA) for VIVITROL® (naltrexone for extended-release injectable suspension) for opioid dependence has been designated a priority review by the U.S. Food and Drug Administration (FDA). The designation is assigned to drugs that offer major advances in treatment, or provide a treatment where no adequate therapy exists and accelerates the FDA’s target review timeline from ten to six months. The FDA has issued an action date for the sNDA of October 12, 2010 under the Prescription Drug User Fee Act (PDUFA). If approved for opioid dependence, VIVITROL would be the first and only non-narcotic, non-addictive medication for the treatment of opioid dependence available in a once-monthly formulation.

Nabi Biopharmaceuticals (Nasdaq:NABI) recently announced its first quarter financial results for the three month period ended March 27, 2010. The Company reported net income from continuing operations of $5.5 million, or $0.11 per share, compared to a net loss of $7.0 million, or $0.14 per share, for the period ended March 28, 2009.

First quarter revenue was $13.7 million reflecting revenue recognized from payments received from GlaxoSmithKline Biologicals (GSK) associated with the PentaStaph sale and the closing of the NicVAX option and license agreement. This total includes recognized revenue of $4.6 million related to the $21.5 million upfront payment received at the close of the PentaStaph sale in 2009, $8 million for achieving a PentaStaph performance milestone and $0.9 million for services provided to GSK under the PentaStaph agreement. The company also recognized revenue of $0.2 million related to the $40 million NicVAX upfront payment received in the first quarter of 2010. Revenue from the PentaStaph and NicVAX upfront payments are being recognized ratably over 14 months and 190 months, respectively.

Array BioPharma Inc. (NASDAQ: ARRY) reported recently that four abstracts have been selected for presentation at the American Society of Clinical Oncology (ASCO) Annual Meeting, being held from June 4-8, 2010, in Chicago, Illinois. Presentations will disclose new findings about its anti-cancer programs: AZD6244 (ARRY-886), a MEK inhibitor licensed to AstraZeneca PLC and ARRY-520, a KSP inhibitor.

The abstracts can be accessed through the ASCO website, www.asco.org. Abstract titles are provided below; however, please note that according to ASCO policy, all data is embargoed until the time of the beginning of the presentation. The ARRY-520 poster and presentation will be available as PDFs after they are presented on Array’s website at www.arraybiopharma.com.

Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA) will host a live audio webcast at the UBS Global Specialty Pharmaceuticals Conference with Eyal Desheh, Teva’s Chief Financial Officer, presenting on Wednesday, June 2, 2010 in London.

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