LAS VEGAS, Aug. 21, 2020 /PRNewswire/ -- JanOne Inc.
(Nasdaq: JAN), a company focused on developing treatments for
conditions that cause severe pain and drugs with non-addictive,
pain-relieving properties, today announced that it intends to
provide a public business update via teleconference regarding the
advancements made through its lead drug candidate JAN101. The
company believes that JAN101 is a potential treatment for
peripheral artery disease (PAD) and may have applications for
COVID-19 vascular complications. The briefing will be held on
Tuesday, August 25, 2020 at
4:15 PM ET.
JanOne's management update will be represented by Tony Isaac, CEO, Tony
Giordano, PhD, Chief Scientific Officer, and Amol Soin, MD, Chief Medical Officer.
Conference Call Details:
Date: Tuesday,
August 25, 2020
Time: 4:15 PM Eastern Time (ET)
Dial in Number for U.S. Callers: 877-407-8293
Dial in Number for International
Callers: 201-689-8349
A replay will be available for two weeks starting on
August 25, 2020 at approximately
7:15 P.M. ET. To access the replay,
please dial 1-877-660-6853 in the U.S. and 1-201-612-7415 for
international callers. The conference ID# is 13708885.
JanOne's first drug candidate, JAN101, is a patented sodium
nitrite sustained release tablet formulated to treat PAD and other
vascular conditions. JAN101 (formerly referred to as
TV1001SR) has demonstrated positive results in Phase 1 and Phase 2a
trials for improving blood flow and vascular function. The
company has received authorization from the Food and Drug
Administration (FDA) for the investigational new drug (IND)
sponsorship transfer covering its sodium nitrite tablets and is
currently preparing an investigator-initiated IND package for FDA
submission, which it expects to submit in the coming weeks, as a
potential treatment for certain aspects of bodily damage created by
COVID-19. A pivotal phase 2b
study for PAD is planned for early 2021.
JAN101 is intended to address the 8.5 million Americans who
suffer from PAD. In 2017, the global market for PAD was estimated
at nearly $36.1 billion and is
expected to grow at a compound annual growth rate (CAGR) of 7.6% to
$52.0 billion by 2022, according to
BCC Research.1
About JanOne
JanOne (NASDAQ: JAN) is focused on
developing medications to treat diseases that cause severe pain. By
alleviating pain at the source, JanOne aims to reduce the need for
opioid prescriptions to treat disease associated pain that can lead
to opioid abuse. The company is also exploring solutions for
non-addictive pain medications. Its lead candidate JAN101 is for
treating peripheral artery disease (PAD), a condition that affects
over 8.5 million Americans. JAN101 demonstrated positive results in
a Phase 2a clinical trial, and Phase 2b trials are
expected to begin in early 2021. JanOne is dedicated to funding
resources toward innovation, technology, and education for PAD,
associated vascular conditions and neuropathic pain. JanOne
continues to operate its legacy businesses under their current
brand names, ARCA Recycling and GeoTraq, both of which are
undergoing review to determine appropriate strategic
alternatives. For more information, visit janone.com
Forward-Looking and Cautionary Statements
This press
release contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. In accordance
with the safe harbor provisions of this Act, statements contained
herein that look forward in time that include everything other than
historical information, including statements relating to (i)
JAN101's expectation of when it will enter
Phase 2b trials to treat PAD, (ii) whether JAN101 can
treat vascular complications in COVID-19 patients, and (iii) the
timing of the submission by the company of the IND package for the
FDA. These forward-looking statements can be identified by
terminology such as "will," "aims," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates" and similar
statements. JanOne may also make written or oral forward-looking
statements in its periodic reports to the U.S. Securities and
Exchange Commission (the "SEC") on Forms 10-K and 10-Q, Current
Reports on Form 8-K, in its annual report to stockholders, in press
releases, and other written materials and in oral statements made
by its officers, directors or employees to third parties. There can
be no assurance that such statements will prove to be accurate and
there are a number of important factors that could cause actual
results to differ materially from those expressed in any
forward-looking statements made by the company, including, but not
limited to, plans and objectives of management for future
operations or products, the market acceptance or future success of
our products, and our future financial performance. The company
cautions that these forward-looking statements are further
qualified by other factors including, but not limited to, those set
forth in the company's Annual Report on Form 10-K for the fiscal
year ended December 28, 2019 (available
at http://www.sec.gov). JanOne undertakes no obligation to
publicly update or revise any statements in this release, whether
as a result of new information, future events, or otherwise.
Investor Relations & Media Contact
IR@Janone.com
1 (800) 400-2247
1
https://www.bccresearch.com/market-research/healthcare/the-global-market-for-pain-management-drugs-and-devices.html
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SOURCE JanOne