Hollis-Eden Announces Name Change to Harbor BioSciences, Inc. and Ticker Symbol Change to 'HRBR'
February 17 2010 - 4:03PM
PR Newswire (US)
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
http://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.
DATASOURCE: Harbor BioSciences, Inc. CONTACT: Robert Weber, Chief
Financial Officer of Harbor BioSciences, Inc., +1-858-587-9333, Web
Site: http://www.harborbiosciences.com/
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