GT Biopharma, Inc. Files Application for NASDAQ Capital Market Listing
December 18 2017 - 9:47AM
InvestorsHub NewsWire
GT Biopharma Inc. (GTBP)
today announced that the Company has filed an application to list
its common stock on the NASDAQ Capital Market. GT Biopharma is
currently quoted as GTBP: OTCQB on the Over the Counter
Market.
"We believe that elevating the listing of our common stock to the
NASDAQ Capital Market is an important step forward in our mission
to enhancing shareholder value. The NASDAQ listing should enable us
to enhance trading liquidity of our stock, provide greater access
to capital markets, broaden our shareholder base, and raise our
profile in the investment community," said Anthony Cataldo,
Executive Chairman.
The NASDAQ listing application is subject to review and approval by
NASDAQ's Listing Qualifications Department to ensure compliance
with all NASDAQ Capital Market standards. GT Biopharma anticipates
the NASDAQ review process to last up to two months before
completion. While the Company intends to satisfy all of NASDAQ's
requirements for initial listing, no assurance can be given that
its application will be approved.
About GT Biopharma, Inc.:
GT Biopharma, Inc. is a biotechnology company focused on innovative
drugs for the treatment of cancer and nervous system diseases
(Neurology and Pain) along with other unmet medical needs. GT’s
lead oncology drug candidate, OXS-1550 (DT2219) is a novel
bispecific scFv recombinant fusion protein-drug conjugate composed
of the variable regions of the heavy and light chains of anti-CD19
and anti-CD22 antibodies and a modified form of diphtheria toxin as
its cytotoxic drug payload. OXS-1550 targets cancer cells
expressing the CD19 receptor or the CD22 receptor or both
receptors. When OXS-1550 binds to cancer cells, the cancer cells
internalize the drug and are killed due to the action of cytotoxic
payload. OXS-1550 has demonstrated success in early human clinical
trials in patients with relapsed/refractory B-cell lymphoma or
leukemia. In addition, GT's TriKE platform will address a number of
cancer types. GT's nervous system platform is focused on acquiring
or discovering and patenting late-stage, de-risked, and
close-to-market improved treatments for nervous system diseases
(Neurology and Pain) and shepherding them through the approval
process to the NDA. GT Biopharma's neurology products currently
include PainBrake, as well as treatments for the symptoms of
myasthenia gravis, and motion sickness.
Except for historical information contained herein, the statements
in this release are forward-looking and made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements are inherently unreliable and
actual results may differ materially. Examples of forward-looking
statements in this news release include statements regarding the
effectiveness of the Company's products, the potential outcome of
clinical studies, the future success of development activities and
the future growth and operating and financial performance of the
Company. Factors which could cause actual results to differ
materially from these forward-looking statements include such
factors as the Company's ability to accomplish its business
initiatives, obtain regulatory approval and protect its
intellectual property; significant fluctuations in marketing
expenses and ability to achieve or grow revenue, or recognize net
income, from the sale of its products and services, as well as the
introduction of competing products, or management's ability to
attract and maintain qualified personnel necessary for the
development and commercialization of its planned products, and
other information that may be detailed from time to time in the
Company's filings with the United States Securities and Exchange
Commission. The Company undertakes no obligation to publicly update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
Company website: www.GTBiopharma.com
SOURCE: GT
Biopharma Inc.
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