Resverlogix Announces Withdrawal of Public Offering of Units
June 08 2018 - 6:39PM
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Resverlogix Corp. ("Resverlogix" or the "Company") (TSX:RVX)
announced today that it has opted not to proceed with the public
offering of units of the Company announced on April 17, 2018, based
on the Company’s assessment that market conditions are not
currently conducive for a public offering on terms that would be in
the best interests of the Company and its shareholders.
Resverlogix intends instead to carry out
financing options that the Company has been pursuing that are more
favourable to the Company.
About Resverlogix
Resverlogix is developing apabetalone (RVX-208),
a first-in-class, small molecule that is a selective BET
(bromodomain and extra-terminal) inhibitor. BET bromodomain
inhibition is an epigenetic mechanism that can regulate
disease-causing genes. Apabetalone is a BET inhibitor selective for
the second bromodomain (BD2) within the BET proteins. This
selective inhibition of apabetalone on BD2 produces a specific set
of biological effects with potentially important benefits for
patients with high-risk cardiovascular disease (CVD), diabetes
mellitus (DM), chronic kidney disease, end-stage renal disease
treated with hemodialysis, neurodegenerative disease, Fabry
disease, peripheral artery disease and other orphan diseases, while
maintaining a well described safety profile. Apabetalone is
currently being studied in a Phase 3 trial, BETonMACE, in high-risk
CVD patients with type 2 DM and low high-density lipoprotein (HDL).
In BETonMACE approximately 11% of the participants have chronic
kidney disease.
Resverlogix common shares trade on the Toronto Stock Exchange
(TSX:RVX).
Follow us on Twitter: @Resverlogix_RVX
For further information please contact:
Investor Relations Email:ir@resverlogix.com Phone:
403-254-9252Or visit our website: www.resverlogix.com
This news release may contain certain
forward-looking information as defined under applicable Canadian
securities legislation, that are not based on historical fact,
including without limitation statements containing the words
"believes", "anticipates", "plans", "intends", "will", "should",
"expects", "continue", "estimate", "forecasts" and other similar
expressions. In particular, this news release includes forward
looking information relating to the Company’s intention to carry
out financings and the potential role of apabetalone in the
treatment of CVD, DM, chronic kidney disease, end-stage renal
disease treated with hemodialysis, neurodegenerative disease, Fabry
disease, peripheral artery disease and other orphan diseases. Our
actual results, events or developments could be materially
different from those expressed or implied by these forward-looking
statements. We can give no assurance that any of the events or
expectations will occur or be realized. By their nature,
forward-looking statements are subject to numerous assumptions and
risk factors including those discussed in our Annual Information
Form and most recent MD&A which are incorporated herein by
reference and are available through SEDAR at www.sedar.com. The
forward-looking statements contained in this news release are
expressly qualified by this cautionary statement and are made as of
the date hereof. The Company disclaims any intention and has no
obligation or responsibility, except as required by law, to update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
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