Oncolix, Inc., Announces Submission of Application for Listing on OTC-QB
December 06 2017 - 7:30AM
Oncolix, Inc., (OTC PINK:ONCX) announced today that following the
appointment of the second independent member of the Board of
Directors the Company has fulfilled the requirements and has
submitted an application to be listed on the OTC-QB. The review is
anticipated to take approximately two to four weeks after which
Oncolix would be listed on the OTC-QB.
“We continue to make progress building out our
public biopharmaceutical company infrastructure and today, we are
finally able to realize an important step by submitting the
application for listing on the OTC-QB,” said Michael T. Redman,
chief executive officer of Oncolix. “We continue to meet our
announced milestones, most recently changing the company name and
stock ticker, appointing two independent members to our board of
directors, and finishing an extensive review process by the
Financial Industry Regulatory Authority (FINRA). All of these
actions are directed toward our ultimate objective of a NASDAQ
listing.”
About Oncolix
Oncolix is a clinical-stage biotechnology
company developing Prolanta™ for the treatment of ovarian, uterine,
breast and other cancers. The Company has a US FDA-cleared IND to
commence human testing of Prolanta™ in its first indication, the
treatment of ovarian cancer. This Phase 1 clinical trial is
currently in progress. Prolanta™ is a prolactin receptor antagonist
(or blocker) that has demonstrated efficacy in xenograft models
through a unique mechanism of action, autophagy. In addition to
ovarian cancer, there is strong preclinical evidence Prolanta™ may
be effective in breast, prostate and other cancers. In the current
Phase 1 dose-escalation safety trial for the treatment of ovarian
cancer, to date there have been no observed serious adverse events
and no dose-limiting toxicities. The FDA has approved the
designation of Prolanta™ as an Orphan Drug for the treatment of
ovarian cancer, which may result in reduced filing fees (currently
$2 million), federal tax credits and marketing exclusivity.
Forward-Looking Statements
This press release above may contain
forward‐looking statements about the business, financial condition
and prospects of the Company. Forward looking statements can be
identified by the use of forward-looking terminology such as
“believes,” “projects,” “expects,” “may,” “goal,” “estimates,”
“should,” “plans,” “targets,” “intends,” “could,” or “anticipates,”
or the negative thereof, or other variations thereon, or comparable
terminology, by discussions of strategy or objectives.
Forward-looking statements relate to anticipated or expected
events, activities, trends or results. Because
forward-looking statements relate to matters that have not yet
occurred, these statements are inherently subject to risks and
uncertainties.
Although the Company believes that the
expectations reflected in forward-looking statements are
reasonable, there can be no assurances that such expectations will
prove to be accurate. Security holders are cautioned that
such forward-looking statements involve risks and uncertainties.
The forward-looking statements contained in the press release speak
only as of the date of the press release, and the Company expressly
disclaims any obligation or undertaking to report any updates or
revisions to any such statement to reflect any change in the
Company’s expectations or any change in events, conditions or
circumstances on which any such statement is based. Certain factors
may cause results to differ materially from those anticipated by
some of the statements made in the press release. Investors are
urged to consider closely the disclosures in our Forms 10-K, 10-Q,
8-K and other filings with the SEC, which can be electronically
accessed from the SEC's website at http://www.sec.gov/.
Corporate contact:
Michael RedmanP: 281-402-3167E: mredman@oncolixbio.com
Investor contact:The Ruth GroupRobert Flamm, Ph.D.P:
646-536-7017E: rflamm@theruthgroup.com