Tickers: PINX:PCFTF, XCNQ:PT
Tags: None
VANCOUVER, BC, Canada / TNW-ACCESSWIRE / January 6, 2015 / Pacific Therapeutics Ltd. (CSE: PT) (OTCBB: PCFTF) (Frankfurt: 1P3) (the "Company") has completed a phase 1 trial of its lead product for fibrosis, PTL-202, (a $4 billion market opportunity) with positive results and is advancing its sublingual formulation for erectile dysfunction (ED) to a pivotal bioequivalence trial.
The Company has announced that it has secured DTC eligibility by The Depository Trust Company (DTC) for its shares traded in the United States under the symbol PCFTF.
The DTC is a subsidiary of the Depository Trust & Clearing Corporation and manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through the DTC are considered "DTC eligible." This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors and brokers. Securities that are not DTC-eligible are often not accepted for trading at many brokerages due to the amount of paperwork and manpower required to execute and settle trades, thus making it more difficult for a significant percentage of investors to access the shares. Additionally companies that are approved for DTC electronic transfers often experience higher trading volumes in their stock given the additional accessibility and availability of shares for trading.
"DTC eligibility increases the efficiency and lowers the cost associated of trading PCFTF in the United States, while increasing security and lowering transaction risk for our investors," said Doug Unwin, president and CEO of Pacific Therapeutics Ltd. "Securing DTC eligibility reflects our ongoing efforts to support our growing investor base in the U.S."
ABOUT PACIFIC THERAPEUTICS LTD.
The Company's strategy includes reformulating approved drugs to increase efficacy and patient compliance, while reducing side effects, as well as completing the further clinical testing, manufacturing and other regulatory requirements sufficient to seek marketing authorizations. This strategy may reduce the risk, time and cost of developing therapies by avoiding the risks associated with basic research and using compounds with unknown safety and toxicity profiles.
Pacific Therapeutics Ltd. lead drug candidate for fibrosis (progressive scarring of the organ), PTL-202 is a combination of an FDA approved drug and an extremely potent and important antioxidant. The Company has confirmed the anti-fibrotic activity of its lead compound for fibrosis, PTL-202, in several experiments using a preclinical model of lung fibrosis and has completed a phase 1 clinical trial of the combination with positive results.
In Addition, the Company plans to build on the already significant development of it's sublingual treatment for Erectile Dysfunction with the initiation of a pivotal bioequivalence trial. With successful results from this trial the Company will begin the application for marketing approval.
For further information visit our website at www.pacifictherapeutics.com or email us at doug.unwin@pacifictherapeutics.com
Douglas H. Unwin, CEO & President
(604) 738-1049
doug.unwin@pacifictherapeutics.com
FORWARD LOOKING STATEMENTS
Certain statements included in this press release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors.
Readers should not place undue reliance on the Company's forward-looking statements, as the Company's actual results, performance or achievements may differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements if known or unknown risks, uncertainties or other factors affect the Company's business, or if the Company's estimates or assumptions prove inaccurate. Therefore, the Company cannot provide any assurance that such forward-looking statements will materialize. The Company does not undertake to update any forward-looking information, except as, and to the extent required by, applicable securities laws.
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