Immune Pharmaceuticals Inc. Trading Symbol is Now IMNP on Both NASDAQ OMX
Stockholm Exchange and OTCQX Trading Platform
TARRYTOWN, N.Y., Sept. 23, 2013
TARRYTOWN, N.Y., Sept. 23, 2013 /PRNewswire/ --Immune Pharmaceuticals Inc.
(NASDAQ OMX Stockholm Exchange: IMNP and OTCQX: IMNP, formerly EPCTD)
announced today that effective September 23, 2013 the Company's symbol for its
common stock trading on the OTCQX trading platform will change to "IMNP". The
Company's common stock had been required to trade under the symbol "EPCTD"
since August 21, 2013 as a result of the previously implemented 1-for-40
reverse stock split. The Company's common stock has been trading on the NASDAQ
OMX Stockholm Exchange under the symbol "IMNP" since August 21, 2013, so as a
result of this most recent change the Company's common stock will be trading
under the same symbol in all of its trading markets.
Dr. Daniel G. Teper, the Company's Chairman and Chief Executive Officer,
commented, "This change now aligns Immune's trading symbol on the OTCQX with
our symbol on the NASDAQ OMX Stockholm Exchange, enabling our investors to
easily identify the Company and track our progress as we achieve new clinical
and business development milestones."
On August 26, 2013, Immune Pharmaceuticals announced the completion of the
merger of Immune Pharmaceuticals Ltd. and EpiCept Corporation, forming a
company focused on the development of antibody therapeutics, including
bertilimumab, which is in Phase II clinical development for ulcerative colitis
and bullous pemphigoid, an orphan auto-immune indication, and NanomAbs®, a
platform of antibody targeted nanoparticles for cancer treatment.
About Immune Pharmaceuticals Inc.
Immune Pharmaceuticals Inc. (NASDAQ OMX Stockholm Exchange: IMNP; OTCQX: IMNP,
formerly EPCTD) applies a personalized approach to treatment, developing
novel, highly targeted antibody therapeutics to improve the lives of patients
with inflammatory diseases and cancer. The Company's lead product candidate,
bertilimumab, is entering Phase II clinical studies for moderate-to-severe
ulcerative colitis and bullous pemphigoid, with additional studies planned for
Crohn's disease and severe asthma. The Company is evaluating the use of its
NanomAb® platform, a second generation antibody drug conjugate technology,
with chemotherapeutics in order to enhance their safety and efficacy profiles
by delivering the medicines directly to cancer cells. The Company's growing
oncology pipeline also includes proprietary antibodies and, clinical-stage
small molecules that have been shown activity in a variety of solid tumors.
Immune is headquartered in Tarrytown, New York, with its primary research and
development facilities in Israel.
For more information, visit Immune's website at www.immunepharmaceuticals.com.
This news release and any oral statements made with respect to the information
contained in this news release contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. You are
urged to consider statements that include the words "may," "will," "would,"
"could," "should," "believes," "estimates," "projects," "potential,"
"expects," "plans," "anticipates," "intends," "continues," "forecast,"
"designed," "goal" or the negative of those words or other comparable words to
be uncertain and forward-looking. Such forward-looking statements include
statements that express plans, anticipation, intent, contingency, goals,
targets, future development and are otherwise not statements of historical
fact. These statements are based on our current expectations and are subject
to risks and uncertainties that could cause actual results or developments to
be materially different from historical results or from any future results
expressed or implied by such forward-looking statements. Factors that may
cause actual results or developments to differ materially include: the risks
associated with the adequacy of our existing cash resources and our ability to
continue as a going concern; the risks associated with our ability to continue
to meet our obligations under our existing debt agreements; the risk that
clinical trials for bertilimumab, crolibulin or AmiKet™ will not be
successful; the risk that bertilimumab, crolibulin, AmiKet™ or compounds
arising from our NanomAb® program will not receive regulatory approval or
achieve significant commercial success; the risk that we will not be able to
find a partner to help conduct the Phase III trials for AmiKet™ on attractive
terms, a timely basis or at all; the risk that our other product candidates
that appeared promising in early research and clinical trials do not
demonstrate safety and/or efficacy in larger-scale or later-stage clinical
trials; the risk that we will not obtain approval to market any of our product
candidates; the risks associated with dependence upon key personnel; the risks
associated with reliance on collaborative partners and others for further
clinical trials, development, manufacturing and commercialization of our
product candidates; the cost, delays and uncertainties associated with our
scientific research, product development, clinical trials and regulatory
approval process; our history of operating losses since our inception; the
highly competitive nature of our business; risks associated with litigation;
and risks associated with our ability to protect our intellectual property.
These factors and other material risks are more fully discussed in our
periodic reports, including our reports on Forms 8-K, 10-Q and 10-K and other
filings with the U.S. Securities and Exchange Commission. You are urged to
carefully review and consider the disclosures found in our filings which are
available at www.sec.govor at www.immunepharmaceuticals.com. You are
cautioned not to place undue reliance on any forward-looking statements, any
of which could turn out to be wrong due to inaccurate assumptions, unknown
risks or uncertainties or other risk factors.
SOURCE Immune Pharmaceuticals Inc.
Contact: Immune Pharmaceuticals Inc.: 777 Old Saw Mill River Road, Tarrytown,
NY 10591, Anna Baran, Director of Investor Relations and Corporate
Communications, Tel: (914) 606-3500 or (646) 937-1941,
firstname.lastname@example.org; Immune Pharmaceuticals Ltd.: 15 Aba Even Avenue,
2nd Floor, Herzliya-Pituach, 46733, Israel
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