Immune Pharmaceuticals Appoints Liquidity Provider to Facilitate Trading on NASDAQ OMX Stockholm Exchange
TARRYTOWN, N.Y. and HERZLIYA-PITUACH, Israel, Nov. 1, 2013 /PRNewswire/ -- Immune Pharmaceuticals Inc. (OTCQX and NASDAQ OMX Stockholm Exchange: IMNP) announced today that it has appointed Erik Penser Bankaktiebolag as a liquidity provider for the Company's common shares currently listed on NASDAQ OMX Stockholm Exchange under the trading symbol IMNP. The firm will continue to be the Company's liquidity provider after its planned transfer of its stock listing from NASDAQ OMX Stockholm Exchange to NASDAQ OMX First North Premier.
A liquidity provider facilitates the buying and selling of shares in order to narrow the difference between the bid and ask prices of a traded security. The liquidity provider's goal is to reduce market risk, enabling shareholders to more efficiently trade in the Company's common stock. The agreement between Erik Penser Bankaktiebolag and the Company is consistent with the terms established by NASDAQ OMX in Stockholm for liquidity providers pertaining to both the NASDAQ OMX Stockholm Exchange and NASDAQ OMX First North Premier. The agreement is effective as of November 1, 2013.
About Erik Penser Bankaktiebolag
Erik Penser Bankaktiebolag is a privately owned and independent bank that offers a broad range of financial services to private and institutional investors and focuses on creating value for its clients. Erik Penser Bankaktiebolag has approximately 90 employees and has its office at Biblioteksgatan 9 in Stockholm, Sweden. Erik Penser Bankaktiebolag operates under the supervision of the Swedish Financial Supervisory Authority and is a member of the leading Nordic exchanges, SwedSec and the Swedish Securities Dealers Association
About Immune Pharmaceuticals Inc.
Immune Pharmaceuticals Inc. (OTCQX and NASDAQ OMX Stockholm Exchange: IMNP) applies a personalized approach to treatment, developing novel, highly targeted antibody therapeutics to improve the lives of patients with inflammatory diseases and cancer. The Company's lead product candidate, bertilimumab, is entering Phase II clinical studies for moderate to severe ulcerative colitis and bullous pemphigoid, with additional studies planned for Crohn's disease and severe asthma. The Company is evaluating the use of its NanomAb® platform, a second generation antibody drug conjugate technology, with chemotherapeutics in order to enhance their safety and efficacy profiles by delivering the medicines directly to cancer cells. The Company's growing oncology pipeline also includes proprietary antibodies and, clinical-stage small molecules that have been shown activity in a variety of solid tumors.
Immune is headquartered in Tarrytown, New York, with its primary research and development facilities in Herzliya-Pituach, Israel.
For more information, visit Immune's website at www.immunepharmaceuticals.com, the content of which is not a part of this press release.
This news release and any oral statements made with respect to the information contained in this news release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You are urged to consider statements that include the words "may," "will," "would," "could," "should," "believes," "estimates," "projects," "potential," "expects," "plans," "anticipates," "intends," "continues," "forecast," "designed," "goal" or the negative of those words or other comparable words to be uncertain and forward-looking. Such forward-looking statements include statements that express plans, anticipation, intent, contingency, goals, targets, future development and are otherwise not statements of historical fact. These statements are based on our current expectations and are subject to risks and uncertainties that could cause actual results or developments to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. Factors that may cause actual results or developments to differ materially include: the risks associated with the adequacy of our existing cash resources and our ability to continue as a going concern; the risks associated with our ability to continue to meet our obligations under our existing debt agreements; the risk that clinical trials for bertilimumab, crolibulin or AmiKet™ will not be successful; the risk that bertilimumab, crolibulin, AmiKet™ or compounds arising from our NanomAb® program will not receive regulatory approval or achieve significant commercial success; the risk that we will not be able to find a partner to help conduct the Phase III trials for AmiKet™ on attractive terms, a timely basis or at all; the risk that our other product candidates that appeared promising in early research and clinical trials do not demonstrate safety and/or efficacy in larger-scale or later-stage clinical trials; the risk that we will not obtain approval to market any of our product candidates; the risks associated with dependence upon key personnel; the risks associated with reliance on collaborative partners and others for further clinical trials, development, manufacturing and commercialization of our product candidates; the cost, delays and uncertainties associated with our scientific research, product development, clinical trials and regulatory approval process; our history of operating losses since our inception; the highly competitive nature of our business; risks associated with litigation; and risks associated with our ability to protect our intellectual property. These factors and other material risks are more fully discussed in our periodic reports, including our reports on Forms 8-K, 10-Q and 10-K and other filings with the U.S. Securities and Exchange Commission. You are urged to carefully review and consider the disclosures found in our filings which are available at www.sec.gov or at www.immunepharmaceuticals.com. You are cautioned not to place undue reliance on any forward-looking statements, any of which could turn out to be wrong due to inaccurate assumptions, unknown risks or uncertainties or other risk factors.
SOURCE Immune Pharmaceuticals Inc.