VANCOUVER, British Columbia, Might 14, 2021 (GLOBE NEWSWIRE) — WPD Prescription drugs Inc. (the “Firm”) (CSE: WBIO) (FSE: 8SV1), offers this replace on the standing of the audit of its consolidated annual monetary statements for the yr ended December 31, 2020 (the “2020 Monetary Statements”), the administration dialogue and evaluation and the associated officer certifications. As beforehand introduced, the British Columbia Securities Fee issued a administration stop commerce order on Might 4, 2021 as a result of the Firm was unable to well timed file the 2020 Monetary Statements, and the Firm is submitting this standing replace in accordance with Nationwide Coverage 12-203, Administration Stop Commerce Orders, which requires bi-weekly updates by the use of information releases.
The Firm’s auditors have begun the audit however it should take some further time to finalize the audit, and the Firm now expects to file it on or earlier than Might 25, 2021. The Firm will present additional updates as required.
About WPD Prescription drugs
WPD is a biotechnology analysis and improvement firm with a give attention to oncology, specifically analysis and improvement of medicinal merchandise involving organic compounds and small molecules. WPD has licensed in sure nations 10 novel drug candidates with 4 which can be in scientific improvement stage. These drug candidates had been researched at medical establishments, and WPD at present has ongoing collaborations with Wake Forest College and main hospitals and educational facilities in Poland.
WPD has entered into license agreements with Wake Forest College Well being Sciences and sublicense agreements with Moleculin Biotech, Inc. and CNS Prescription drugs, Inc., respectively, every of which grant WPD an unique, royalty-bearing sublicense to sure applied sciences of the licensor. Such agreements present WPD with sure analysis, improvement, manufacturing and gross sales rights, amongst different issues. The sublicense territory from CNS Prescription drugs and Moleculin Biotech consists of for many compounds 31 nations in Europe and Asia, together with Russia.
On Behalf of the Board
CEO, WPD Prescription drugs
Electronic mail: [email protected]
Neither the Canadian Securities Alternate nor the Funding Trade Regulatory Group of Canada accepts accountability for the adequacy or accuracy of this launch.
This press launch accommodates forward-looking statements. Ahead-looking statements are statements that ponder actions, occasions or developments that the Firm can develop efficient medication towards most cancers and probably viruses. Components which can forestall the ahead trying assertion from being realized embrace that opponents or others might efficiently problem a granted patent and the patent might be rendered void; we could also be unable to lift ample funding for our analysis; we could also be unable to expend ample funds on analysis to maintain our sublicense rights; our grant functions might not be profitable or if profitable, we might not meet the necessities to obtain the grants awarded; that our medication don’t present optimistic therapy, or in the event that they do, the unintended effects are damaging; opponents might develop higher or cheaper medication; and we could also be unable to acquire regulatory approval for any medication we develop; the submitting of the 2020 Monetary Statements in addition to the monetary statements and associated paperwork for the primary fiscal quarter of 2020 and the projected timing. Readers ought to confer with the chance disclosure included from time-to-time within the paperwork the Firm information on SEDAR, out there at www.sedar.com. Though the Firm believes that the assumptions inherent in these forward-looking statements are affordable, they aren’t ensures of future efficiency and, accordingly, they shouldn’t be relied upon and there will be no assurance that any of them will show to be correct. Lastly, these forward-looking statements are made as of the date of this press launch and the Firm assumes no obligation to replace them besides as required by relevant legislation.