IDAHO FALLS, Idaho, Jan. 26, 2021 /PRNewswire/ -- International Isotopes Inc. (OTCQB: INIS) (the "Company") is pleased to announce the following developments.
International Isotopes recently signed a distribution agreement with a large American healthcare services company for its I-131 drug product for the treatment of disease of the thyroid and thyroid cancer. INIS expects to start distributing product to this company later in the first quarter and this should help to further expand sales of this important product in the U.S..
The Company was recently notified by the Department of Energy that it has been indemnified under the Price Anderson Act for a release of Cesium that occurred in May of 2019. The Company's field services unit, which has since been discontinued as the Company has focused on growing its healthcare related business segments, was removing an expended Cesium source from a blood irradiator unit, when the source was breached. Further, the Washington Department of Health and Nuclear Regulatory Commission investigations into the event have been closed.
Due to recent volatility in its share price, the Company's Board of Directors has approved a stock buyback plan, authorizing the Company to repurchase up to $500,000 of its common shares in the open market or in privately negotiated transactions over the next 12 months. Repurchases may also be made under a Rule 10b5-1 plan, which would permit shares to be repurchased when the Company might otherwise be precluded from doing so under insider trading laws. The timing, volume and nature of stock repurchases, if any, will be at the Company's sole discretion and will be dependent on market conditions, applicable securities laws, and other factors. The stock repurchase program may be suspended or discontinued at any time.
About International Isotopes Inc.
International Isotopes Inc. supplies sodium iodide I-131 as an FDA approved generic drug product and manufactures a full range of nuclear medicine calibration and reference standards. The Company also provides cobalt-60 products for medical and industrial applications.
International Isotopes Inc. Safe Harbor Statement
Certain statements in this press release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements with respect to the Company's future growth expectations for the various business segments. Information contained in such forward-looking statements is based on current expectations and is subject to change. These statements involve a number of risks, uncertainties and other factors that could cause actual results, performance or achievements of International Isotopes Inc. to be materially different from any future results, performance or achievements of the Company expressed or implied by these forward-looking statements. Other factors, which could materially affect such forward-looking statements, can be found in the Company's filings with the Securities and Exchange Commission at www.sec.gov, including its Annual Report on Form 10-K for the year ended December 31, 2019. Investors, potential investors, and other readers, are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are only made as of the date of this press release and International Isotopes, Inc. and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
FOR MORE INFORMATION, CONTACT:
SOURCE International Isotopes Inc.