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From DNAPrint.com: |
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LATEST PRESS RELEASE: | ||
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July 6, 2005
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DNAPrint genomics to Effect 1-for-20 Stock Consolidation on Tuesday, July 12 Shareholders at the Company's annual meeting on June 23 approved an
amendment to the Company's Articles of Incorporation authorizing a stock
combination of at least 1-for-10 but no more than 1-for-20 with the exact
ratio established by the Board of Directors. Following the stock consolidation, DNAPrint genomics will have
approximately 62,000,000 shares outstanding. "The stock consolidation will enable DNAPrint genomics to access up to
$40 million in capital from equity line draws for future growth and potential
acquisitions," stated President and Chief Executive Officer Richard Gabriel.
"The central focus of our strategic plan is to build up our pharmaceutical
division by placing new drugs into the pipeline. At the same time, we plan to
expand our forensics division based on the growing success of our product line
for law enforcement." About DNAPrint genomics, Inc. DNAPrint genomics, Inc. ( http://www.dnaprint.com ) is a developer of
genomics-based products and services focused on drug development,
pharmacogenomic diagnostic tests, forensics technology and consumer genetic
tests. The Company's first theranostic product (drug/test combination) is PT-
401, a "Super EPO" (erythropoietin) dimer protein drug for treatment of anemia
in renal dialysis patients (end stage renal disease). Currently in pre-
clinical development, PT-401 will be targeted to patients with a genetic
profile indicating their propensity to have the best clinical response. Forward-Looking Statements All statements in this press release that are not historical are forward-
looking statements. Such statements are subject to risks and uncertainties
that could cause actual results to differ materially from those projected,
including, but not limited to, uncertainties relating to technologies, product
development, manufacturing, market acceptance, cost and pricing of DNAPrint's
products, dependence on collaborations and partners, regulatory approvals,
competition, intellectual property of others, and patent protection and
litigation. DNAPrint genomics, Inc. expressly disclaims any obligation or
undertaking to release publicly any updates or revisions to any forward-
looking statements contained herein to reflect any change in DNAPrint's
expectations with regard thereto or any change in events, conditions, or
circumstances on which any such statements are based. |
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