Hamilton, Ontario, July 19, 2019 (GLOBE NEWSWIRE) -- CTT Pharmaceutical Holdings, Inc., (“CTT”) (OTC:CTTH), an innovative life sciences company with a portfolio of IP in novel drug delivery systems, is pleased to provide the following corporate update.
CEO Cam Birge commented as follows: “CTT is currently in a quiet period that requires patience by shareholders. The Company is now fully compliant with OTC Markets filings, including the new requirements introduced by the OTC on March 15, 2019. Management believes the Company can now successfully undergo an audit should it be required in future. Management desires to complete a few more steps to maximize shareholder value before ending its quiet period.”
With respect to the legal action against Rapid Dose Therapeutics Ltd. (RDT), Birge offered the following: “Management continues to believe that if the Company’s claim is able to go to trial, CTT will be successful. We have appealed the court’s initial decision not to allow a trial and expect a decision before the end of the year.”
CTT continues to make progress with Health Canada, commercialization of products and international patent registrations.
About CTT Pharmaceutical
CTT’s patent portfolio currently contains five issued (three Canadian and two U.S.) patents with a number of international patent applications pending that encompass over fifty countries.
Aurora Cannabis (TSX: ACB) (NYSE: ACB) (Frankfurt: 21P; WKN: A1C4WM) currently has an approximate 8% equity ownership in CTT Pharma and holds a warrant enabling it to increase equity ownership up to 42.5% in CTT up until May 20, 2021.
CTT ‘s patent portfolio covers a nanonized orally administrable composition that can be applied to various delivery systems including a quick dissolving oral film forming agent that effectively delivers nanonized therapeutics to improve the bioavailability of therapeutic drugs that are difficult to deliver orally. The main aim of CTT’s technology is the delivery of large therapeutic molecules such as proteins or cannabinoids. This technology has been applied to cannabinoid delivery and has potential indications in pain management and opioid addiction management. For more information, please visit our website: www.cttpharmaceuticals.com.
CTT’s common shares trade on the OTC market in the United States under the symbol “CTTH”.
Forward looking statements
This news release includes statements containing certain "forward-looking information" within the meaning of applicable securities law (“forward-looking statements”). Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The company is under no obligation, and expressly disclaim any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.