In addition, recent results from pre-clinical pharmacokinetic testing have been very encouraging and the data supports advancing the program. Uttroside B shows tremendous value in the Liver Cancer Market and has received Orphan Drug designation from the FDA.
In addition to successfully prosecuting its IP portfolio the company is engaged in finding strategic opportunities to best preserve and create value for our shareholders.
The company has an approved non-opioid cancer pain palliation asset that is an effective therapeutic, it's a non-opiate and can save hospitals millions of dollars in economic outcome improvements. In addition, it has a very promising liver cancer chemotherapeutic that has been granted US orphan drug status and several international patents, and recently was also granted a patent in USA. The plan is to advance this asset into the clinic in a non-US country where the government is offering 43% cash rebate and combined with US dollar strength would allow us to complete that clinical phase for 50% of the typical cost and potentially in a shorter timeframe. It previously reported the remarkable potency of Uttroside-B against liver cancer cells and believes it could be a very valuable drug candidate in the liver cancer market which has few therapeutics for a growing patient population.
QBioMed has an equity stake in
We believe these assets are far more valuable than the current market cap of the company and we are determined to find a way to recognize that value for our shareholders and those that made these assets into promising therapeutics that could help many people around the world.
While we believe these corporate activities are building value, we are of course aware of the dismal stock performance. Unfortunately, our cap and debt structure coupled with the general macro-market uncertainty and specifically the biotech market capitulation, has resulted in a valuation for QBIO that we maintain, is not reflective of the inherent asset value within our portfolio. The current microcap and biotech funding climate is making raising capital very challenging and keeping up with the considerable expense of public company operations and professional fees has resulted in us not being able to timely file or annual report. We are working on remedying that as soon as possible.
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Forward-Looking Statements
This press release may contain 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to our growth strategy and product development programs and any other statements that are not historical facts. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated are: risks related to our growth strategy; risks relating to the results of research and development activities; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; uncertainties relating to preclinical and clinical testing; our dependence on third-party suppliers; our ability to attract, integrate, and retain key personnel; the early stage of products under development; our need for substantial additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks described in our
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