Hollis-Eden Announces Name Change to Harbor BioSciences, Inc. and Ticker Symbol Change to 'HRBR'
SAN DIEGO, Feb. 17 /PRNewswire-FirstCall/ -- Hollis-Eden Pharmaceuticals, Inc. (Nasdaq: HEPH), today announced that it has changed its name to Harbor BioSciences, Inc. and that its ticker symbol will change from 'HEPH' to 'HRBR' on Thursday, February 18, 2010. The company also received a new CUSIP number (41150V 103) for its common stock.
"We are pleased to begin 2010 with a targeted business strategy focused on attaining proof-of-concept data for Apoptone® in its initial indication of CRPC," stated James Frincke, Ph.D., President and Chief Executive Officer. "Our new name, Harbor BioSciences, reflects our presence in the San Diego area and acknowledges the significant contributions of our dedicated employees here."
Apoptone (HE3235) is a novel steroid analog of a dihydrotestosterone metabolite that has been found to stimulate cell death (apoptosis) in hormone-dependent prostate tumors. Preliminary results of the company's ongoing Phase I/IIa clinical trial with Apoptone (HE3235) for hormone-resistant prostate cancer (also called castrate-resistant prostate cancer or CRPC) were presented on November 16, 2009 at the Molecular Targets and Cancer Therapeutics Conference. These data will be updated later in Q1/2010.
About Harbor BioSciences, Inc.
Harbor BioSciences is a development-stage company with two product candidates in clinical trials: Apoptone (HE3235), in the cohort expansion portion of a Phase I/IIa trial of patients with late-stage prostate cancer, and Triolex®, in a Phase IIa trial in obese type 2 diabetes mellitus patients. The Triolex study will be completed in Q1/2010, with data expected in Q2/2010. Apoptone and Triolex represent the lead candidates from Harbor BioSciences small molecule platform based on metabolites or synthetic analogs of endogenous steroid hormones. For more information on Harbor BioSciences please visit www.harborbiosciences.com.
This press release contains forward-looking statements within the meaning of the federal securities laws concerning, among other things, our receiving a new ticker symbol; our focus on attaining proof-of-concept data for Apoptone in its initial indication of CRPC; the update of the data from our ongoing Phase I/IIa clinical trial with Apoptone (HE3235) for CRPC; the completion of our Triolex study in Q1/2010; and availability of data from our Triolex study in Q2/2010. Any statement included in this press release that are not a description of historical facts are forward-looking statements that involve risks, uncertainties, assumptions and other factors which, if they do not materialize or prove correct, could cause our actual results to differ materially from historical results or those expressed or implied by such forward-looking statements. Such statements are subject to certain risks and uncertainties inherent in our business, including, but not limited to: the receipt of our new ticker symbol and the timing thereof; the ability to complete preclinical and clinical trials successfully and within specified timelines, if at all; the availability of data within specified timelines; our capital needs; our ability to obtain additional funding; our ability to obtain regulatory approval for Apoptone (HE3235), Triolex (HE3286) or any other investigational drug candidate; and other risks detailed from time to time in our filings with the Securities and Exchange Commission. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by law, we undertake no obligation to update or revise the information contained in this press release as a result of new information, future events or circumstances arising after the date of this press release.
SOURCE Harbor BioSciences, Inc.