Bio-Path Holdings Appoints Ernst & Young as New Auditor
March 11 2020 - 7:00AM
Bio-Path Holdings, Inc., (NASDAQ:BPTH), a biotechnology company
leveraging its proprietary DNAbilize® antisense RNAi nanoparticle
technology to develop a portfolio of targeted nucleic acid cancer
drugs, today announced that the Audit Committee of the Company’s
Board of Directors approved the appointment of Ernst & Young
LLP (“EY”) as the Company’s new independent registered public
accounting firm, replacing former auditor, BDO USA, LLP (“BDO”).
BDO’s reports on the Company’s financial statements for the
years ended December 31, 2019 and 2018 did not contain an adverse
opinion or a disclaimer of opinion and were not qualified or
modified as to uncertainty, audit scope or accounting
principles.
“We are pleased to be appointing a ‘Big Four’ accounting firm as
our new auditors. The size, scope and reputation of EY reflects the
significant growth Bio-Path has experienced over the past year and
will serve to be a strong financial resource as we continue to
build Bio-Path into a leading oncology company,” said Peter H.
Nielsen, President and Chief Executive Officer of Bio-Path. “We
thank BDO for its fine services over the past several years.”
About Bio-Path Holdings, Inc.
Bio-Path is a biotechnology company developing DNAbilize®, a
novel technology that has yielded a pipeline of RNAi nanoparticle
drugs that can be administered with a simple intravenous
transfusion. Bio-Path’s lead product candidate, prexigebersen
(BP1001, targeting the Grb2 protein), is in a Phase 2 study for the
treatment of blood cancers and has filed an IND for a Phase 1
clinical trial for solid tumors. The Company’s second pipeline
candidate is BP1002, which targets the Bcl-2 protein and is planned
to be evaluated for the treatment of lymphoma and chronic
lymphocytic leukemia. In addition, an IND application for BP1003, a
novel liposome-incorporated STAT3 antisense oligodeoxynucleotide
developed by Bio-Path as a specific inhibitor of STAT3, is expected
to be filed in 2020.
For more information, please visit the Company's website at
http://www.biopathholdings.com.
Forward-Looking Statements
This press release contains forward-looking statements that are
made pursuant to the safe harbor provisions of the federal
securities laws. These statements are based on management's current
expectations and accordingly are subject to uncertainty and changes
in circumstances. Any express or implied statements contained in
this press release that are not statements of historical fact may
be deemed to be forward-looking statements. Any statements that are
not historical facts contained in this release are forward-looking
statements that involve risks and uncertainties, including
Bio-Path’s ability to raise needed additional capital on a timely
basis in order for it to continue its operations, Bio-Path's
ability to have success in the clinical development of its
technologies, the timing of enrollment and release of data in such
clinical studies and the accuracy of such data, limited patient
populations of early stage clinical studies and the possibility
that results from later stage clinical trials with much larger
patient populations may not be consistent with earlier stage
clinical trials, the maintenance of intellectual property rights,
that patents relating to existing for future patent applications
will be issued or that any issued patents will provide meaningful
protection of our drug candidates, risks relating to maintaining
Bio-Path's listing on the Nasdaq Capital Market and such other
risks which are identified in Bio-Path's most recent Annual Report
on Form 10- K, in any subsequent quarterly reports on Form 10-Q and
in other reports that Bio-Path files with the Securities and
Exchange Commission from time to time. These documents are
available on request from Bio-Path Holdings or at www.sec.gov.
Bio-Path disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise.
Contact Information:
Investors
Will O’ConnorStern Investor Relations,
Inc.212-362-1200will@sternir.com
Doug Morris Investor Relations Bio-Path
Holdings, Inc. 832-742-1369
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