Cordex Retains WBB Securities to Explore Strategic Options
LA JOLLA, Calif., Feb. 1 /PRNewswire-FirstCall/ -- Cordex Pharma, Inc. (OTC Bulletin Board: CDXP) announced today that it has retained WBB Securities LLC to help the company explore strategic alternatives to enhance shareholder value.
Cordex has developed a portfolio of diagnostic and therapeutic drug candidates, two of which are in late stages of clinical development: ATPaceTM has an approved SPA to enter a pivotal Phase 2b/3 clinical trial for the treatment of a common heart arrhythmia called paroxysmal supraventricular tachycardia. Cordex believes that ATPaceTM is a more reliable and superior product than existing therapies because of its unique ability to recruit the vagus nerve.
As a diagnostic test for syncope, ATPaceTM is ready for a Phase 3 clinical trial. Diagnosis of syncope is a major unmet medical need. Cordex believes this product may impact the syncope market much the same way adenosine-based pharmaceutical stress agents expanded the myocardial perfusion imaging market.
Another of Cordex's ATP-based product, ATPotentTM, targets male factor infertility. Pre-clinical data have demonstrated the ability of ATPotentTM to improve sperm motility and increase conception rates. ATPotentTM can be developed either as a therapeutic agent (in IUI or IVF procedures) or as a medical device (a sperm wash). Other ATP-based products target the P2 receptors in the lung and the eye for the treatment of COPD and chronic cough and glaucoma, respectively.
A Cordex program at the Phase 2 proof-of-concept clinical trial stage is a nitric oxide-based product for the treatment of heart failure.
"We believe that we can best serve the interests of all our shareholders by exploring every possible alternative to enhance shareholder value," stated Cordex's CEO Shepard Goldberg.
About Cordex Pharma, Inc.
Cordex is focused on hospital-based therapies based upon the emerging new pharmacological mechanisms of adenosine 5'-triphosphate (ATP) and nitric oxide (NO). These two molecules play critical roles in cellular metabolism and signal transduction, the manipulation of which constitute novel therapeutic modalities for the treatment of major cardiovascular disorders. For further information regarding Cordex, please visit the company's website at www.cordexpharma.com.
About WBB Securities LLC.
Headquartered in San Diego, WBB is an independent broker/dealer specializing in biotechnology, specialty pharma, and medical devices investment banking and research. For further information regarding WBB or to contact the firm, please visit www.wbbsec.com.
WBB Securities LLC
125 Elm Street
Westfield, NJ 07090
Contact: Mark Molowa
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended that involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements. The forward-looking statements are based on current expectations, estimates and projections made by management. Cordex intends for the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," or variations of such words are intended to identify such forward-looking statements. All statements in this release regarding the future outlook related to Cordex are forward-looking statements, including, but not limited to, the statements regarding the expected results of the use of ATPace(TM) and enhancing shareholder value. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements. Such risks include the risk that the data derived from the trials may not be sufficient to support marketing or approval of the products, the market may not be as anticipated and that our technology may not lead to expected results including the development or the successful commercialization of technologies relating to the use of ATP or nitric oxide. Additional uncertainties and risks are described in Cordex's most recently filed SEC documents, such as its most recent annual report on Form 10-K, all quarterly reports on Form 10-Q and any current reports on Form 8-K filed since the date of the last Form 10-KSB. Copies of these filings are available through the SEC website at http://www.sec.gov. All forward-looking statements are based upon information available to Cordex on the date hereof. Cordex undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by law.