WASHINGTON, December 18, 2017 /PRNewswire/ --
GT Biopharma Inc. (GTBP) today announced that the Company has
filed an application to list its common stock on the NASDAQ Capital
Market. GT Biopharma is currently quoted as GTBP: OTCQB on the Over
the Counter Market.
"We believe that elevating the listing of our common stock to
the NASDAQ Capital Market is an important step forward in our
mission to enhancing shareholder value. The NASDAQ listing should
enable us to enhance trading liquidity of our stock, provide
greater access to capital markets, broaden our shareholder base,
and raise our profile in the investment community," said
Anthony Cataldo, Executive
Chairman.
The NASDAQ listing application is subject to review and approval
by NASDAQ's Listing Qualifications Department to ensure compliance
with all NASDAQ Capital Market standards. GT Biopharma anticipates
the NASDAQ review process to last up to two months before
completion. While the Company intends to satisfy all of NASDAQ's
requirements for initial listing, no assurance can be given that
its application will be approved.
About GT Biopharma, Inc.: GT Biopharma, Inc. is a biotechnology
company focused on innovative drugs for the treatment of cancer and
nervous system diseases (Neurology and Pain) along with other unmet
medical needs. GT's lead oncology drug candidate, OXS-1550 (DT2219)
is a novel bispecific scFv recombinant fusion protein-drug
conjugate composed of the variable regions of the heavy and light
chains of anti-CD19 and anti-CD22 antibodies and a modified form of
diphtheria toxin as its cytotoxic drug payload. OXS-1550 targets
cancer cells expressing the CD19 receptor or the CD22 receptor or
both receptors. When OXS-1550 binds to cancer cells, the cancer
cells internalize the drug and are killed due to the action of
cytotoxic payload. OXS-1550 has demonstrated success in early human
clinical trials in patients with relapsed/refractory B-cell
lymphoma or leukemia. In addition, GT's TriKE platform will address
a number of cancer types. GT's nervous system platform is focused
on acquiring or discovering and patenting late-stage, de-risked,
and close-to-market improved treatments for nervous system diseases
(Neurology and Pain) and shepherding them through the approval
process to the NDA. GT Biopharma's neurology products currently
include PainBrake, as well as treatments for the symptoms of
myasthenia gravis, and motion sickness.
Except for historical information contained herein, the
statements in this release are forward-looking and made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements are inherently
unreliable and actual results may differ materially. Examples of
forward-looking statements in this news release include statements
regarding the effectiveness of the Company's products, the
potential outcome of clinical studies, the future success of
development activities and the future growth and operating and
financial performance of the Company. Factors which could cause
actual results to differ materially from these forward-looking
statements include such factors as the Company's ability to
accomplish its business initiatives, obtain regulatory approval and
protect its intellectual property; significant fluctuations in
marketing expenses and ability to achieve or grow revenue, or
recognize net income, from the sale of its products and services,
as well as the introduction of competing products, or management's
ability to attract and maintain qualified personnel necessary for
the development and commercialization of its planned products, and
other information that may be detailed from time to time in the
Company's filings with the United States Securities and Exchange
Commission. The Company undertakes no obligation to publicly update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
http://www.GTBiopharma.com
+1(800) 304-9888
SOURCE GT Biopharma Inc