LONDON--(Marketwire - February 01, 2012) - Lightlake Therapeutics Inc. (OTCBB: LLTP) (the "Company" or "Lightlake"), an early stage biopharmaceutical company developing modern addiction treatments based on its expertise using opioid antagonists, announced today that there have been no material changes to its operations or its business affairs, and the Company is not aware of any undisclosed developments that would account for the recent unusual trading activity of its shares.
Dr. Roger Crystal, Chief Executive Officer of Lightlake, stated: "Ordinarily we do not comment on atypical market activity or market rumors, however due to the recent unusual trading activity of Lightlake stock, I would like to take this opportunity to convey to the investment community that our operations are progressing as expected. We are completing the Phase II trials of an opioid antagonist nasal spray treatment for Binge Eating Disorder, which we have fully funded, and we are planning to begin Phase II testing of an opioid antagonist nasal spray treatment for Bulimia Nervosa later this year at King's College London. Moreover, we have made arrangements with Europe's largest center for research and post-graduate education in psychiatry, the Institute of Psychiatry at Maudsley Hospital, to develop a new treatment for opiate overdose and are planning to apply our patented technology to create treatments for opioid, cocaine and amphetamine addictions, and will also launch a study to investigate Premenstrual Overeating Syndrome. One of our top priorities is maximizing shareholder value and I am confident that as we head into the future, we will be better able to reward Lightlake investors who stay the course."
About Lightlake Therapeutics Inc.
Lightlake Therapeutics Inc. is a developing biopharmaceutical company aiming to build a platform of biopharmaceutical solutions to common addictions and related disorders. Currently, the Company is focused on providing a safe, effective and simple treatment for patients who are obese or overweight as a result of Binge Eating Disorder in addition to those patients suffering from Bulimia Nervosa. Lightlake recently acquired patents that will allow it to widen its product pipeline to address patients with addictions to opioid painkillers, methadone, cocaine and amphetamine. The Company anticipates launching a development program for each of these purposes in the future.
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