Therapix Biosciences ADRs Begin Trading On The OTCQB®
TEL AVIV, Israel, Oct. 7, 2014 (GLOBE NEWSWIRE) -- Therapix Bio (TASE:TRPX) (OTC:THXBY) today announced that its American Depository Receipts (ADRs) have been registered and approved for trading on OTCQB®. The ADRs, each representing 20 ordinary shares, began trading on October 6, 2014 under the symbol THXBY.
Therapix expects that the listing of the ADRs will support increased exposure among investors in the U.S. and other major financial centers as the Company more broadly communicates its unique business model and growth strategy, and further develops its portfolio of novel biopharmaceutical products.
"The listing of our ADRs on the OTCQB is an important step in our overall corporate development strategy as we continue working to build awareness of Therapix within the U.S. investment community and execute on our key growth initiatives," said Dr. Elran Haber, VP Business Strategy and Innovation at Therapix. "We believe that the area of synthetic cannabinoid-based pharmaceutical products is one with tremendous growth potential. We have a great deal of confidence in our current portfolio of product candidates, and we will look to strengthen it further as we continue moving forward."
About Therapix
Therapix is a specialty pharmaceutical company focused on synthetic cannabinoid-based therapies with attractive risk/return profiles that target large, high value, under-served markets.
Therapix is executing its strategy through acquisitions of cannabinoid-focused companies and technologies. It continues to identify unique opportunities and is building a robust pipeline based on synergistic integration of unique technologies.
As part of the strategy to invest in and acquire cannabinoid assets, the company announced on June 15, 2014, that a definitive investment agreement was signed between the company and Lara Pharm Ltd., a private company engaged in the field of medical cannabis. Its lead product, LP-306, is a unique synthetic formulation of THC administered through an inhaler, constituting a pharmaceutical substitution for medical marijuana.
The Company's portfolio also includes an orally administered anti-CD3 antibody for the treatment of various inflammatory diseases such as Non Alcoholic Steato-Hepatitis (fatty liver disease).
Forward-Looking Statements
This statement may constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities legislation, including, but not limited to, estimations relating to expected ADR's listing effects and forecasts relating to the area of synthetic cannabinoid-based pharmaceutical products.
The forward-looking information in this statement is presented for the purpose of providing information about management's current expectations and plans and such information may not be appropriate for other purposes.
Forward-looking statements may include financial and other projections, as well as statements regarding our future plans, objectives or economic performance, or the assumptions underlying any of the foregoing, and other statements that are not recitations of historical fact.
We use words such as "may," "would," "could," "should," "will," "likely," "expect," "anticipate," "believe," "intend," "plan," "forecast," "outlook," "project," "estimate" and similar expressions suggesting future outcomes or events to identify forward-looking statements.
Any such forward-looking statements are based on information currently available to us, and are based on assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances.
However, whether actual results and developments will conform with our expectations and predictions is subject to a number of risks, risk factors, assumptions and uncertainties, many of which are beyond our control, and the effects of which can be difficult to predict, and which can be more specifically described and can be found on our annual reports.
In evaluating forward-looking statements, we caution readers not to place undue reliance on any forward-looking statements and readers should specifically consider the various factors which could cause actual events or results to differ materially from those indicated by such forward-looking statements.
Unless otherwise required by applicable securities laws, we do not intend, nor do we undertake any obligation, to update or revise any forward-looking statements to reflect subsequent information, events, results or circumstances or otherwise.
CONTACT: Lee Roth / Sam Martin The Ruth Group 646-536-7012 / 7008 lroth@theruthgroup.com / smartin@theruthgroup.comHelp employers find you! Check out all the jobs and post your resume.