Panacos to Report Fourth Quarter and Year-End Results for 2006.WATERTOWN, Mass. -- Panacos Pharmaceuticals, Inc. (Nasdaq:PANC), a biotechnology company dedicated to developing the next generation of antiviral antiviral /an·ti·vi·ral/ (-vi´ral) destroying viruses or suppressing their replication, or an agent that so acts. an·ti·vi·ral adj. therapeutic products, announced today that the Company will report its fourth quarter and full year 2006 financial results after the U.S. Financial Markets close on Wednesday, February 21, 2007. Following the announcement, Panacos will hold a conference call to discuss the results and provide an update on the Company's development programs. Alan W. Dunton, M.D., Chief Executive Officer will host the call. Date: Wednesday, February 21, 2007 Time: 4:30 p.m. Eastern time Conference call access Internet: www.panacos.com Domestic dial-in: (800) 901-5241 International dial-in: (617) 786-2963 The conference call can be accessed via the web at www.panacos.com or by calling the conference dial-in between 4:15 and 4:25 p.m. and entering the passcode 74142782. A replay of the conference call will be available from 6:30 p.m. February 21, 2007 until Friday, March 23, 2007, and can be accessed via the web at www.panacos.com or by dialing toll-free (888) 286-8010, and outside the U.S. (617) 801-6888 with passcode 19658792. About Panacos Panacos is developing the next generation of anti-infective products through discovery and development of small molecule oral drugs for the treatment of HIV HIV (Human Immunodeficiency Virus), either of two closely related retroviruses that invade T-helper lymphocytes and are responsible for AIDS. There are two types of HIV: HIV-1 and HIV-2. HIV-1 is responsible for the vast majority of AIDS in the United States. and other major human viral diseases viral diseases Diseases caused by viruses. Long-term immunity usually follows viral childhood diseases (see chickenpox). The common cold recurs into adulthood because many different viruses cause its symptoms, and immunity against one does not protect against others. . HIV infects approximately 1.7 million people in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and Western Europe Western Europe The countries of western Europe, especially those that are allied with the United States and Canada in the North Atlantic Treaty Organization (established 1949 and usually known as NATO). and approximately 40 million people worldwide. Approximately 650,000 patients are treated annually for HIV in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Western Europe. Resistance to currently available drugs is one of the most pressing problems in HIV therapy and the leading cause of treatment failure. Panacos' proprietary discovery technologies are designed to combat resistance by focusing on novel targets in the virus life cycle, including virus maturation maturation /mat·u·ra·tion/ (mach-u-ra´shun) 1. the process of becoming mature. 2. attainment of emotional and intellectual maturity. 3. and virus fusion. Panacos' lead candidate, bevirimat (PA-457), is the first in a new class of oral HIV therapeutics under development called maturation inhibitors, discovered by Panacos scientists and their academic collaborators. Based on its novel mechanism of action, bevirimat is designed to have potent activity against a broad range of HIV strains, including those that are resistant to existing classes of drugs. The Company has completed seven clinical studies of bevirimat in over 300 subjects, showing significant reductions in viral load viral load n. The concentration of a virus, such as HIV, in the blood. viral load, n a measure of the number of virus particles present in the bloodstream, expressed as copies per milliliter. in HIV-infected subjects and a promising safety profile, and is currently in Phase 2b clinical trials. |
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