Baton Rouge, LA, Jan. 20, 2022 (GLOBE NEWSWIRE) -- Adhera Therapeutics, Inc. (OTCPK: ATRX) ("Adhera" or the "Company"), a clinical stage biopharmaceutical company, is pleased to announce its successful uplisting from the OTC Pink Sheets to the OTCQB® Venture Marketplace (the “OTCQB”). Adhera will commence trading on the OTCQB at the market open on January 20, 2022 under the ticker “ATRX.” The Company believes that the uplist will create greater visibility to retail and institutional investors, as well as further enhance trading liquidity.
The OTCQB is operated by OTC Markets Group Inc. and recognized by the U.S. Securities and Exchange Commission as a market providing public information for analysis and value of securities. The OTCQB is designed for developing U.S. and international companies, subject to ongoing listing requirements that include remaining current in financial reporting, undergoing an annual verification and management certification process, meeting a minimum bid price, and other specific financial conditions.
“Moving to the OTCQB is the result of our commitment to compliance, quality controls, and complete transparency to our current shareholders and those that will become shareholders of ATRX in the future,” commented Andrew Kucharchuk, Chief Executive Officer of Adhera Therapeutics. “It is a significant milestone and a logical progression for the Company as part of our goal to make 2022 a transformational year for Adhera. In that pursuit, we are actively engaged with companies, funds, and individuals that share our vision to advance our drug pipeline addressing unmet medical needs into Phase 2 clinical trials, and graduate Adhera to a listing on a national exchange. We look forward to providing our shareholders regular updates on our progress in the coming weeks and months.”
About Adhera Therapeutics
Adhera Therapeutics is a clinical stage biopharmaceutical company focused on identifying advanced drug candidates that may qualify for accelerated developmental pathways. The Company has licensed two drug candidates, MLR-1019 and MLR-1023, from the Melior Discovery family of companies. Adhera is developing MLR-1023 (tolimidone) as a new drug for Type I diabetes with a focus on C-peptide positive patients. Adhera also has exclusive rights to develop MLR-1023 for Non-Alcoholic Steatohepatitis (NASH) and pulmonary inflammation diseases and conditions. MLR-1023, a lyn kinase activator, has demonstrated exceptional clinical safety and tolerability in over 700 patients in Phase 2a and Phase 2b Type 2 diabetes studies. MLR-1019 (armesocarb) is a new class of drug for Parkinson’s Disease (PD) and is believed by the Company to represents the only drug to address both movement and non-movement symptoms of PD. Armesocarb is the active enantiomer in mesocarb, a drug marketed in Europe for 37 years for various psychiatric and central nervous system indications. In addition to advancing both drug candidates in Phase 2 clinical trials, the Company remains active in exploring other advanced drug development opportunities while maintaining its legacy assets, including CEQ508, an oral delivery of small interfering RNA (siRNA) against beta-catenin, to suppress polyps in the precancerous syndrome and orphan indication Familial Adenomatous Polyposis (FAP).
Forward Looking Statements
This press release contains forward-looking statements as defined by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 including the anticipated benefits of the Company’s compounds, the initiation of Phase 2 trials, execution of license agreements, completion of a financing and the amount of proceeds, if any, from the contemplated financing and future collaborative opportunities. Forward-looking statements involve risks, uncertainties and assumptions that could cause Adhera Therapeutics' actual results and experiences to differ materially from anticipated results and expectations expressed in these forward looking statements. Adhera Therapeutics has in some cases identified forward-looking statements by using words such as "anticipates," "believes," "hopes," "estimates," "looks," "expects," "plans," "intends," "goal," "potential," "may," "suggest," and similar expressions. Among other factors that could cause actual results to differ materially from those expressed in forward-looking statements are Adhera Therapeutics' need for, and the availability of, substantial capital in the future to fund its operations and research and development, the ability to agree upon the terms of the proposed financing with potential investors and existing noteholders and close on it, general risks in obtaining approval to initiate clinical trials, safety or efficacy issues arising during the trials, and the ultimate risks in reaching the commercialization stage. A more complete description of these risk factors is included in Adhera Therapeutics filings with the Securities and Exchange Commission. You should not place undue reliance on any forward-looking statements. Adhera Therapeutics undertakes no obligation to release publicly the results of any revisions to any such forward-looking statements that may be made to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as required by applicable law or regulation.
INVESTOR AND MEDIA CONTACT:
Adhera Therapeutics, Inc.
Andrew Kucharchuk
Chief Executive Officer
akucharchuk@adherathera.com
