(PR NEWSWIRE) Viral Genetics Responds to Rumors of Imminent FDA Filing and Thir d Party Press Releases Viral Genetics Responds to Rumors of Imminent FDA Filing and Third Party Press R eleases
SAN MARINO, Calif., Aug. 26 /PRNewswire-FirstCall/ -- Viral Genetics (Pink Shee ts: VRAL), a biotechnology company that develops drug compounds for HIV/AIDS, au toimmune diseases, and cancer, is issuing this announcement in response to a ser ies of press releases distributed by collegestock.com on August 25 and August 26 , and an article published on Today's Financial News entitled "TFN Reader Grapev ine: There's Something About Viral Genetics, Inc. (VRAL)," on August 25.
The press releases and article discuss a rumor of the imminent filing of an Inv estigatory New Drug application ("IND") with the US FDA by Viral Genetics, and a ttribute the recent price and volume increases of the company's common stock to that rumor. The company has not filed an IND with the FDA, and does not expect t o do so "within the month".
The company has completed certain laboratory studies required for an IND filing , and is planning animal studies that are also required, but the actual completi on and filing of the IND package itself are not expected until later this year a t the earliest, pending funding of required studies and successful completion of them.
Investors, the public, and media are cautioned to refer only to press releases and disclosures made by Viral Genetics, Inc. for information on the company, inc luding information about the FDA, drug development, and clinical trials. The com pany now files its periodic disclosures and financial statements on the OTCIQ sy stem, which are available free of charge at www.pinksheets.com under the company 's ticker symbol, VRAL, and through regular press releases which are widely avai lable and indicate "Viral Genetics" as the Source.
ABOUT VIRAL GENETICS: Viral Genetics, Inc. is a biotechnology company that discovers and develops imm une-based therapies for HIV, AIDS and other autoimmune diseases using its thymus nuclear protein compound (TNP). The company recently entered into an Exclusive License Agreement with the University of Colorado and V-Clip Pharmaceuticals (a subsidiary of the Company) to license technology developed by M. Karen Newell, P hD, that appears to explain TNP and provide a means to optimize therapies based on TNP for future clinical trials. Viral Genetics believes that its investigatio nal HIV/AIDS drug based on TNP, called VGV-1, represents a unique approach to tr eating HIV due to the apparently novel mechanism, low toxicity profile, simple d osing regimen, and short-course of treatment. As a type of immune-based therapy, it focuses on boosting the immune system to allow the body to fight HIV more ef ficiently. VGV-1 has been studied in five human clinical trials for the treatmen t of HIV/AIDS. Online at www.viralgenetics.com
SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements that involve risks and un certainties associated with financial projections, budgets, milestone timelines, clinical development, regulatory approvals, and other risks described by Viral Genetics, Inc. from time to time in its periodic reports filed with the SEC. VGV -1 is not approved by the US Food and Drug Administration or by any comparable r egulatory agencies elsewhere in the world. While Viral Genetics believes that th e forward-looking statements and underlying assumptions contained therein are re asonable, any of the assumptions could be inaccurate, including, but not limited to, the ability of Viral Genetics to establish the efficacy of VGV-1 in the tre atment of any disease or health condition, the development of studies and strate gies leading to commercialization of VGV-1 in the United States, the obtaining o f funding required to carry out the development plan, the completion of studies and tests on time or at all, and the successful outcome of such studies or tests . Therefore, there can be no assurance that the forward-looking statements inclu ded in this release will prove to be accurate. In light of the significant uncer tainties inherent in the forward-looking statements included herein, the forward -looking statements should not be regarded as a representation by Viral Genetics or any other person that the objectives and plans of Viral Genetics will be ach ieved.
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