NEW YORK, June 12, 2013 /PRNewswire/ -- Ohr Pharmaceutical, Inc. (OTCQB: OHRPD), a pharmaceutical company focused on the development of novel therapeutics for large unmet medical needs, today announced that it has received confirmation that its application to list the company's common stock on the NASDAQ Capital Market has been approved by The NASDAQ Stock Market, a unit of the NASDAQ OMX Group. In honor of the listing, the Company will ring the Opening Bell at the NASDAQ MarketSite in Times Square, New York City, on Thursday, June 13 (Link to the live webcast beginning at 9:20am ET).
Ohr's common stock is expected to begin trading on the NASDAQ Capital Market at the opening of trading on June 13, 2013 under the ticker symbol, OHRP. The Company's common stock will continue to trade on the Over-the-Counter Bulletin Board until the market close on June 12, 2013 under the ticker symbol, OHRPD.
"Our listing on the NASDAQ Capital Market is a major corporate milestone for our Company and a testament to the tremendous progress we have made over the past few years," stated Dr. Irach Taraporewala, CEO of Ohr Pharmaceutical. "We believe that the listing on NASDAQ will help broaden our shareholder base, increase appeal to institutional investors, provide us with better liquidity and ultimately contribute to increasing shareholder value. We continue to execute on our clinical and corporate strategy, and anticipate achieving 50% enrollment of the Squalamine Eye Drop phase II wet-AMD trial in the near term, as per our previous guidance."
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Ohr Pharmaceutical, Inc. (OTCQB: OHRPD) is a pharmaceutical company dedicated to the clinical development of new drugs for underserved therapeutic needs in large and growing markets. The Company is focused on advancing its pipeline products currently in phase II clinical development: Squalamine Eye Drops for the treatment of the wet form of age-related macular degeneration, and OHR/AVR118 for the treatment of cancer cachexia. Additional information on the Company can be found at www.ohrpharmaceutical.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made only as the date thereof, and Ohr Pharmaceutical undertakes no obligation to update or revise the forward-looking statement whether as a result of new information, future events or otherwise. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including the future success of our scientific studies, our ability to successfully develop products, rapid technological change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments, the financial resources available to us, and general economic conditions. Stockholders and prospective investors are cautioned that no assurance of the efficacy of pharmaceutical products can be claimed or assured until final testing, and no assurance or warranty can be made that the FDA or Health Canada will approve final testing or marketing of any pharmaceutical product. Ohr's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q discuss some of the important risk factors that may affect our business, results of operations and financial condition. We disclaim any intent to revise or update publicly any forward-looking statements for any reason.
Ohr Pharmaceutical, Inc.
Tel: (877) 215-4813
SOURCE Ohr Pharmaceutical, Inc.