Mateon Common Stock to Trade on OTCQX Beginning on December 8, 2016
December 07 2016 - 10:00AM
Mateon Therapeutics, Inc. (Nasdaq:MATN), a biopharmaceutical
company developing vascular disrupting agents (VDAs) for the
treatment of orphan oncology indications, today announced that
shares of its common stock will be eligible for trading on the
OTCQX Market, effective with the open of business on December 8,
2016. The Company expects that its shares will continue to trade
under the current ticker symbol “MATN” when its shares trade on the
OTCQX.
The OTCQX is the top tier of three markets organized by OTC
Markets Group. As the premium market for U.S. over-the-counter
securities, OTCQX offers transparent and efficient trading of
established, investor-focused U.S. and global companies. To qualify
for the OTCQX market, companies must meet specified financial
standards, follow various corporate governance requirements,
demonstrate compliance with U.S. securities laws and be current in
their disclosures.
About MateonMateon Therapeutics, Inc. is a biopharmaceutical
company seeking to realize the full potential of vascular targeted
therapy (VTT) in oncology. VTT includes vascular disrupting agents
(VDAs) such as the investigational drugs that Mateon is developing,
and anti-angiogenic agents (AAs), a number of which are
FDA-approved and widely used in cancer treatment. These two
approaches have distinct yet complementary mechanisms of
action.
At Mateon, we believe that we can significantly improve cancer
therapy by employing these two complementary approaches
simultaneously. When utilized this way, VDAs obstruct existing
blood vessels in the tumor leading to significant central tumor
cell death while AAs prevent the formation of new tumor blood
vessels.
Mateon is committed to leveraging our intellectual property and
the product development expertise of our highly skilled management
team to enable VTT to realize its true potential and to bring
much-needed new therapies to cancer patients worldwide.
Safe Harbor StatementThis news release contains "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Any or all of the forward-looking statements in
this press release, which include the timing of advancement,
outcomes, data and regulatory guidance relative to our clinical
programs and achievement of our business and financing objectives
may turn out to be wrong. Forward-looking statements can be
affected by inaccurate assumptions Mateon might make or by known or
unknown risks and uncertainties, including, but not limited to, the
inherent risks of drug development, manufacturing and regulatory
review, and the availability of additional financing to pursue and
continue development of our programs. Additional information
concerning factors that could cause actual results to materially
differ from those in the forward-looking statements is contained in
Mateon’s reports to the Securities and Exchange Commission,
including Mateon’s reports on Form 10-K, 10-Q and 8-K. However,
Mateon undertakes no obligation to publicly update forward-looking
statements, whether because of new information, future events or
otherwise. Please refer to our Annual Report on Form 10-K for the
fiscal year ended December 31, 2015.
CONTACTS
Investors:
ir@mateon.com
650-635-7000
Media:
JPA Health Communications
Nic DiBella
nic@jpa.com
617-945-5183