OTC-QB listing becomes effective at opening of trading on December 19, 2017
HOUSTON, Dec. 18, 2017 (GLOBE NEWSWIRE) — Oncolix, Inc., (OTC PINK:ONCX) announced today that the Company has been given approval by the OTC Markets to be listed and traded on the OTC-QB effective at the opening of trading on December 19, 2017.
“Our listing on the OTC-QB marks the end of the Company’s transition from Advanced Environmental Petroleum Producers (AEPP) to Oncolix, which has included our merger into AEPP, stock ticker and name change, new additions to the Company’s Board of Directors and an extensive review process by the Financial Industry Regulatory Authority (FINRA),” said Michael T. Redman, chief executive officer of Oncolix. “Completion of these objectives will now allow us to shift our focus toward advancing our clinical-stage asset, Prolanta™ in development for ovarian cancer. The next phase in the Company’s development will also be, to continue strengthening our public company infrastructure including the creation of a Scientific/Clinical Advisory board. This will be crucial in providing guidance for the continued development of Prolanta™ through the clinical trial process as well as advancing future therapeutic candidates.”
Oncolix is a clinical-stage biotechnology company developing Prolanta™ for the treatment of ovarian, uterine, breast and other cancers. The Company has a US FDA-cleared IND to commence human testing of Prolanta™ in its first indication, the treatment of ovarian cancer. This Phase 1 clinical trial is currently in progress. Prolanta™ is a prolactin receptor antagonist (or blocker) that has demonstrated efficacy in xenograft models through a unique mechanism of action, autophagy. In addition to ovarian cancer, there is strong preclinical evidence Prolanta™ may be effective in breast, prostate and other cancers. In the current Phase 1 dose-escalation safety trial for the treatment of ovarian cancer, to date there have been no observed serious adverse events and no dose-limiting toxicities. The FDA has approved the designation of Prolanta™ as an Orphan Drug for the treatment of ovarian cancer, which may result in reduced filing fees (currently $2 million), federal tax credits and marketing exclusivity.
This press release above may contain forward‐looking statements about the business, financial condition and prospects of the Company. Forward looking statements can be identified by the use of forward-looking terminology such as “believes,” “projects,” “expects,” “may,” “goal,” “estimates,” “should,” “plans,” “targets,” “intends,” “could,” or “anticipates,” or the negative thereof, or other variations thereon, or comparable terminology, by discussions of strategy or objectives. Forward-looking statements relate to anticipated or expected events, activities, trends or results. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties.
Although the Company believes that the expectations reflected in forward-looking statements are reasonable, there can be no assurances that such expectations will prove to be accurate. Security holders are cautioned that such forward-looking statements involve risks and uncertainties. The forward-looking statements contained in the press release speak only as of the date of the press release, and the Company expressly disclaims any obligation or undertaking to report any updates or revisions to any such statement to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which any such statement is based. Certain factors may cause results to differ materially from those anticipated by some of the statements made in the press release. Investors are urged to consider closely the disclosures in our Forms 10-K, 10-Q, 8-K and other filings with the SEC, which can be electronically accessed from the SEC’s website at http://www.sec.gov/.
The Ruth Group
Robert Flamm, Ph.D.