Altair Nanotechnologies Inc. of Reno
said last week it's increased sales in both
battery materials and thermal spray coatings,
and its president believes the company
will reach profitability in 2003.
Two pharmaceutical companies have
expressed interest in testing Altair's new
pharmaceutical for controlling serum
phosphate levels in kidney dialysis.
President Dr. Rudi E. Moerck said Altair
expects to announce results of these
negotiations early this month.
He said Altair is talking with six other
companies, but two pharmaceutical companies
decided not to pursue work with
Altair's product.
The company also completed manufacturing
1,500 pounds of nano-titanium
dioxide for F.W. Gartner Thermal Spray
Co. to coat ball valves for severe-duty
applications in valves manufactured by
Mogas Industries of Houston.
The company also is involved in
research into fuel cells and batteries using
its nanotechnology.
Altair, whose common stock is Nasdaq
listed, believes that it can maintain that
listing if it's profitable, Moerck said. If
the company's price per share stays below
$1, Nasdaq may de-list the shares. The
shares were trading at 65 cents last week.
