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Osiris defense contract makes company take off

As previously discussed, the contract Osriris won from DoD for a drug to treat radiation damage to the gastrointestinal system has really caused the company and its stock to take off. See previous posts here and here for more detail. The contract could be worth $225 M initially, and if the US Government decides to use it for civilian use the value could be unlimited. See CNNMoney.com for more.

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Cleveland BioLabs Loses Out to Osiris For Radiation Treatment Contract

As we reported earlier today, Osiris Therapeutics won a Department of Defense contract to develop a treatment for radiation sickness. Unfortunately, Osiris’s gain was Cleveland BioLabs’ loss. Cleveland’s “shares plummeted nearly 60% after the Buffalo, N.Y., company’s proposed treatment for the gastrointestinal effects of radiation sickness, Protectan CBLB502, wasn’t chosen.” More details at The Street.

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Osiris Therapeutics wins contract for development of radiation treatment

The Department of Defense awarded Osiris Therapuetics a contract that might be worth $224 M dollars to utilize a stem-cell therapy drug to treat radiation caused gastrointestinal injuries. See CNNMoney.com story here. The initial funding of $4 M is to develop the treatment, with another $200 M possible if the DoD decides to purchase units. This is an example of how diverse DoD spending is. It is not just for bullets, beans, gas and soldiers.

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