$ONPH Oncology Pharma Announces Extension of Letter of Intent with Kalos Therapeutics, Retained an Interim CEO and Approval of Reverse Stock Split
Press Release | 08/27/2020
San Francisco, CA, Aug. 27, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Oncology Pharma, Inc. (OTCPK: ONPH) is pleased to announce that it has extended its Letter of Intent with Kalos Therapeutics.
George Malasek was brought into the Company, as Interim CEO, to assist in moving the Company through its financing efforts. George is a finance professional with 25 plus years of experience in both public and private companies and has worked in capital markets on a global scale.
In addition, the Board of Directors has voted to approve a 1 for 100 reverse stock split. The company will release additional information as it becomes available.
ABOUT ONCOLOGY PHARMA, INC.
ONCOLOGY PHARMA, INC. (OTCPK: ONPH) (the "Company") is currently engaging in research and development of therapeutics for oncology and prides itself for having a world-class Advisory Board that keeps the Company in the forefront of developing technologies in cancer research, biotechnology, and healthcare.
FORWARD LOOKING STATEMENTS
Certain of the matters discussed in this announcement contain forward-looking statements that involve material risks to and uncertainties in the Company's business that may cause actual results to differ materially from those anticipated by the statements made herein. Such risks and uncertainties include risks related to licensing arrangements and joint ventures, including the need to negotiate the definitive agreements for the relationships; possible failure to realize anticipated benefits of business relationships; and, costs of providing funding to these business relationships. Other risks and uncertainties relating to the Company include, among other things, current negative operating cash flows and a need for additional funding to finance our operating plan; the terms of any further financing, which may be highly dilutive and may include onerous terms; unexpected costs and operating deficits, and lower than expected sales and revenues; uncertain willingness and ability of customers to adopt new technologies and other factors that may affect further market acceptance; adverse economic conditions; adverse results of any legal proceedings; the volatility of our operating results and financial condition; inability to attract or retain qualified senior management personnel, including sales and marketing personnel; our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the Company's ability to implement its long range business plan for various applications of its technology; the Company's ability to enter into agreements with any necessary marketing and/or distribution partners and with any strategic or joint venture partners; the impact of competition; the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company's technology; management of growth; and, other risks and uncertainties. This is not a solicitation to buy or sell securities and does not purport to be an analysis of the Company's financial position.
For additional information, please contact the Oncology Pharma at:
One Sansome Street, Suite 3500
San Francisco, CA 94104