SOURCE: Panther Biotechnology, Inc.

September 08, 2014 11:56 ET

Panther Biotechnology, Inc. Announces a 6-1 Forward Stock Split to Increase Liquidity of Their Common Stock and Intent to List on the NYSE or NASDAQ

CHICAGO, IL--(Marketwired - Sep 8, 2014) - Panther Biotechnology, Inc. (OTC Pink: PBYA) (PINKSHEETS: PBYA) announced that a 6-1 forward stock split has been filed and has been approved by the Board of Directors of the Company and is subject to FINRA approval. The exact date of the split is still pending; however, the forward splitting of the common stock PBYA is being done to increase liquidity for current and future shareholders.

Irwin Zalcberg, Chairman of Panther, commented, "Liquidity of our stock is paramount for this organization with only 375,000 shares freely tradable in our float and the rest of the shares outstanding are locked-up for up to 36 months. We will utilize our ability to acquire top-notch developmental hematology products and move the pipeline forward to fast track our goals. One of our main goals as a company is to have a liquid market for investors and up-listing to the NASDAQ or NYSE in the near-term. We look forward to expanding our pipeline, and hitting the pavement to relay our story as the best young biotech on the market. As a non-Hodgkin's lymphoma survivor myself it's imperative that we get Numonafide on the market to alleviate the stress being put on patients using toxic chemo therapeutics and we will have advanced discussions with the FDA to accelerate development. We aim to have a shareholders first mentality which means picking the best drugs, keeping costs down, spending capital to share our story and spend on value driven events and corporate actions to maximize shareholder appreciation. Since we don't have any approved products, sales people or the ability to pay the traditional marketing spend of a mature biotechnology company yet, we will spend a modest percentage of our capital on making this the best marketed biotechnology stock. Our team believes we have a potential molecule with an unlimited potential and upside in Numonafide and potentially three more coming in over the next few months and we plan on being aggressive in our pursuits on all fronts."

About Panther Biotechnology, Inc.:
Panther Biotechnology is a newly formed entity focused on the acquisition and development of therapeutics for the treatment of leukemia, lymphoma, myeloma and other cancers. The Company will focus on identifying promising anti-cancer therapeutic candidate that are optimized derivatives of widely studied products or re-purposed existing marketed compounds. The first product candidate, Numonafide, will be evaluated for the treatment of patients with Acute Myeloid Leukemia (AML). The AML market is anticipated to grow to $1.67 billion dollars by 2020 in G8 countries and it is Panthers belief that there are insufficient treatment options available to treat patients.

Except for statements that are historical, the statements in this release are "forward-looking" statements that are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and as that term is defined in the Private Securities Litigation Reform Act of 1995. Panther cannot ensure that it will be able to obtain a license for Numonafide, or any other technologies, on a commercially acceptable or reasonable basis and may not be able to attract the necessary funding to advance the project in a timely manner. In addition, Panther cannot ensure that clinical results related to in-vivo and in-vitro studies of Numonafide will reproduce the positive results achieved to date. Panther cannot be sure that it will be able to obtain regulatory approval for the commercial marketing of its treatment for Patients with AML and there may be other treatments in development that are approved before Panthers. Finally, Panther does not currently meet listing requirements for either the NASDAQ or NYSE nor can it ensure that it will be able to achieve these listing requirements.

Contact Information

  • Contact:

    Richard P. Rainey
    Chief Executive Officer
    (570) 343-9867