SAN JOSE, Calif., Dec. 12, 2017 /PRNewswire/ -- ITUS Corporation
(NASDAQ: ITUS), announced today that it has terminated its
at-the-market equity program ("ATM Offering") with B. Riley FBR,
Inc. The Company had not sold any shares, and will no longer
offer any shares, under this program.
"With over a year's worth of cash based on our current business
plan and many exciting opportunities ahead of us, we no longer feel
that the ATM Offering is necessary," stated Dr. Amit Kumar, President and Chief Executive
Officer of ITUS. "While the continued development of Cchek™
and commencement of our ovarian cancer CAR-T therapeutic program
will require additional resources, we believe that we are in a
position to support both programs in the near term and that our
longer-term needs will be better addressed through strategic
partnerships and other corporate transactions," added Dr.
Kumar.
ITUS Corporation
ITUS, a cancer-focused biotechnology
company, is harnessing the body's immune system in the fight
against cancer. Its wholly owned subsidiary, Anixa
Diagnostics Corporation, is developing the CchekTM
platform, a series of non-invasive blood tests for the early
detection of solid tumor based cancers, which is based on the
body's immunological response to the presence of a
malignancy. Its majority owned subsidiary, Certainty
Therapeutics, Inc., is developing CAR-T based immuno-therapy drugs
which genetically engineer a patient's own immune cells to fight
cancer. ITUS also continually examines emerging technologies
in complementary or related fields for further development and
commercialization. Additional information is available at
www.ITUScorp.com.
Forward-Looking Statements: Statements that are
not historical fact may be considered forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements are not statements of
historical facts, but rather reflect ITUS Corporation's current
expectations concerning future events and results. We generally use
the words "believes," "expects," "intends," "plans," "anticipates,"
"likely," "will" and similar expressions to identify
forward-looking statements. Such forward-looking statements,
including those concerning our expectations, involve risks,
uncertainties and other factors, some of which are beyond our
control, which may cause our actual results, performance or
achievements, or industry results, to be materially different from
any future results, performance, or achievements expressed or
implied by such forward-looking statements. These risks,
uncertainties and factors include, but are not limited to, those
factors set forth in "Item 1A - Risk Factors" and other sections of
our most recent Annual Report on Form 10-K as well as in our
Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. We
undertake no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law. You are
cautioned not to unduly rely on such forward-looking statements
when evaluating the information presented in this press
release.
ITUS Corporation: FOCUSED ON INNOVATION™
View original content with
multimedia:http://www.prnewswire.com/news-releases/itus-corporation-terminates-at-the-market-offering-300569857.html
SOURCE ITUS Corporation