NEW YORK, Oct. 1, 2019 /PRNewswire/ -- Spherix Incorporated
(Nasdaq: SPEX) President and CEO, Anthony
Hayes, today released a letter to shareholders.
Dear Fellow Shareholders,
As previously stated, Spherix is moving forward diligently with
the dividend distribution. Spherix shareholders who are
owners of record on the record date to be set by the Spherix board
of directors, will be paid the dividend. That process is on
track and moving forward. We intend to announce a record date
shortly.
In addition, I wanted to provide some additional information
about the CBM assets that are part of the planned
acquisition. Like other AML drugs that treat certain
indications, KPC34 may qualify for Fast Track designation for the
treatment of certain types of AML, as well as priority review by
the FDA. Developed at Wake Forest School of Medicine, KPC34
is a proprietary next generation drug that combines a DNA damaging
agent with a targeted therapy designed to overcome multiple
resistance mechanisms observed with gemcitabine, the current
standard of care. KPC34 has also been shown to be more effective in
AML relapse cases, notably increasing the lifespan of mice treated
with the drug. The competitive benefits of KPC34 include oral
application for patients that cannot tolerate repeated cycles of
chemotherapy, doubling the mean survival time verse some of the
current standard of care treatments and studies further show high
activity levels against human AML cells.
Upon the closing of the CBM asset purchase, and following the
dividend distribution, we will further update the market on the CBM
assets and the status of our other strategic acquisitions. We
understand the desire by shareholders to receive the proposed
dividend and information about Company activities during a
tumultuous market. We hope this release provides additional
information and assure you we are working diligently to move
matters forward.
Thank you for being a shareholder of Spherix.
Sincerely,
Anthony Hayes
About Spherix
Spherix Incorporated was launched in
1967 as a scientific research company. Spherix is committed to
advancing innovation by active participation in the patent
market. Spherix draws on portfolios of pioneering technology
patents to partner with and support product innovation.
Forward-Looking Statements
Certain statements in this
press release constitute "forward-looking statements" within the
meaning of the federal securities laws. Words such as "may,"
"might," "will," "should," "believe," "expect," "anticipate,"
"estimate," "continue," "predict," "forecast," "project," "plan,"
"intend" or similar expressions, or statements regarding intent,
belief, or current expectations, are forward-looking statements.
While the Company believes these forward-looking statements are
reasonable, undue reliance should not be placed on any such
forward-looking statements, which are based on information
available to us on the date of this release. These forward looking
statements are based upon current estimates and assumptions and are
subject to various risks and uncertainties, including without
limitation those set forth in the Company's filings with the
Securities and Exchange Commission (the "SEC"), not limited to Risk
Factors relating to its patent business contained therein. Thus,
actual results could be materially different. The Company expressly
disclaims any obligation to update or alter statements whether as a
result of new information, future events or otherwise, except as
required by law.
Contact:
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Investor
Relations:
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Hayden IR
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Brett Mass, Managing
Partner
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Phone: (646)
536-7731
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Email:
brett@haydenir.com
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www.haydenir.com
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Spherix:
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Phone:
212-745-1373
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Email:
investorrelations@sherix.com
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www.spherix.com
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SOURCE Spherix Incorporated