BOULDER, Colo., May 3 /PRNewswire-FirstCall/ -- Tapestry Pharmaceuticals, Inc. announced today that it will report its first quarter financial results on May 9, 2007, before the U.S. financial markets open. Management will provide a company update, discuss planned corporate activities and provide first quarter results during a conference call on Wednesday, May 9, 2007 at 9:00 a.m. Eastern Time (7:00 a.m. Mountain Time).
To participate in the conference call, please dial 866-770-7120 (domestic) or 617-213-8065 (international) and reference the access code 39226824. A live audio webcast of the call will also be available on the “Investors” section of the Company’s website, www.tapestrypharma.com. The audio webcast will not be archived.
About TPI 287
TPI 287, a proprietary next generation taxane for the treatment of multiple cancer indications, is Tapestry’s lead clinical compound. This compound was designed to improve its distribution throughout body tissues compared to other taxanes and reduce TPI 287’s susceptibility to multiple drug resistance, or MDR. In preclinical laboratory tests, TPI 287 has exhibited activity across multiple cell lines, including cell lines that either have developed resistance to taxane therapy or are innately resistant to taxane therapy. In addition, in preclinical animal models, TPI 287 has exhibited greater tumor growth inhibition activity compared to standard comparative agents in taxane sensitive and taxane resistant tumor cell lines, including cell lines derived from breast and colon cancers and neuroblastoma tumors. In addition, orally administered TPI 287 has shown activity in brain tumors in animal models.
Tapestry recently commenced enrollment in a Phase II clinical trial in patients with an advanced form of prostate cancer and also plans to conduct Phase II clinical trials in patients with primary cancers of the central nervous system that are generally protected by the blood-brain barrier, including glioblastoma multiforme, and in patients with pancreatic cancer. The Company currently expects to begin each of these clinical trials before the end of 2007, and is planning additional trials in other taxane-resistant tumor types, which may include breast and lung tumors.
About Tapestry Pharmaceuticals, Inc.
Tapestry Pharmaceuticals, Inc. is a biopharmaceutical company focused on the development of proprietary therapies for the treatment of cancer. For more information about Tapestry and its technologies, visit Tapestry’s web site at www.tapestrypharma.com.
Forward-Looking Statements
Statements in this press release that are not historical facts are “forward-looking statements” that involve risks and uncertainties. Forward- looking statements can be identified by the use of words such as “opportunities,” “trends,” “potential,” “estimates,” “may,” “will,” “should,” “anticipates,” “expects,” “hopes” or comparable terminology or by discussions of strategy. Such forward-looking statements include the statements that the Company plans to initiate multiple Phase II trials for TPI 287 before the end of 2007. Such statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from the results, performance or achievements expressed or implied by such forward-looking statements. Such risks, uncertainties and other factors include risks that clinical trials for TPI 287 will be delayed due to institutional approvals, patient recruitment, formulation and manufacturing difficulties, delays in finalizing and receiving approval of Phase II protocols, negotiations with regulatory agencies, or other factors; that human clinical trials may show that TPI 287 is unsafe and/or ineffective in treating cancer in humans. General implementation risks associated with development of TPI 287 include those that we are blocked or limited in the development of TPI 287 because of the intellectual property rights of third parties; that we are limited in our ability to obtain, maintain and enforce our own intellectual property; that development of TPI 287 is delayed or terminated because the costs of further development exceed its value; and that the Company’s resources will be insufficient to continue development. Additional risks, uncertainties and other factors are identified under the captions “Risk Factors” and “Special Note Regarding Forward-Looking Statements” in the Company’s reports filed from time to time with the Securities and Exchange Commission (the “SEC”), including its Annual Report on Form 10-K, for the year ended December 27, 2006 filed with the SEC on March 7, 2007 as well as an amendment thereto on Form 10-K/A filed with the SEC on April 26, 2007. The Company disclaims any intention or obligation to update publicly or revise any forward-looking statements, whether as a result of new or additional information, future events or otherwise.
Contact: Tapestry Pharmaceuticals, Inc. Gordon Link Senior Vice President, Chief Financial Officer 303-516-8500 glink@tapestrypharma.com Media: Dana Conti Schwartz Communications, Inc. 781-684-0770 tapestry@schwartz-pr.com Investor Lilian Stern Stern Investor Relations, Inc. 212-362-1200 lilian@sternir.com
Tapestry Pharmaceuticals, Inc.
CONTACT: Gordon Link, Senior Vice President, Chief Financial Officer ofTapestry Pharmaceuticals, Inc., +1-303-516-8500, glink@tapestrypharma.com;or Investors, Lilian Stern of Stern Investor Relations, Inc.,+1-212-362-1200, lilian@sternir.com, for Tapestry Pharmaceuticals, Inc.; orMedia, Dana Conti of Schwartz Communications, Inc., +1-781-684-0770,tapestry@schwartz-pr.com, for Tapestry Pharmaceuticals, Inc.
