PaxMedica Comments on Common Stock Volatility
22 Junho 2023 - 9:30AM
via NewMediaWire -- PaxMedica, Inc. (Nasdaq: PXMD), a clinical
stage biopharmaceutical company focusing on the development of
novel anti-purinergic drug therapies (APT) for the treatment of
Autism Spectrum Disorder (ASD) and other serious conditions with
intractable neurologic symptoms, today announced that the
management and Board of Directors of PaxMedica are aware of the
recent market volatility in the company’s common stock.
PaxMedica is not aware of any news that might be relevant to the
recent share price fluctuations, however management takes its
fiduciary responsibility very seriously, and have engaged the
services of Shareholder Intelligence Services LLC (“ShareIntel”) to
better understand the investor base and the trading behavior around
the company’s securities.
About Shareholder Intelligence Services, LLC
("ShareIntel")
ShareIntel is a patented compliance-driven SAAS
company retained by public companies to track shareholder ownership
and monitor broker-dealer and shareholder movement through its
exclusive DRIL-Down™ program, potentially providing their clients
with actionable intelligence.
For more information, visit
www.shareintel.com
About PaxMedica
PaxMedica is a clinical stage biopharmaceutical
company focusing on the development of anti-purinergic drug
therapies (“APT”) for the treatment of disorders with intractable
neurologic symptoms, ranging from neurodevelopmental disorders,
including Autism Spectrum Disorder (“ASD”), to Myalgic
Encephalomyelitis/Chronic Fatigue Syndrome (“ME/CFS”), a
debilitating physical and cognitive disorder believed to be viral
in origin and now with rising incidence globally due to the long
term effects of SARS-CoV-2 (“COVID-19”). One of PaxMedica’s primary
points of focus is the development and testing of its lead program,
PAX-101, an intravenous formulation of suramin, in the treatment of
ASD and the advancement of the clinical understanding of using that
agent against other disorders such as ME/CFS and Long COVID-19
Syndrome, a clinical diagnosis in individuals who have been
previously infected with COVID-19.
For more information,
visit www.paxmedica.com.
Forward-Looking Statements
This press release contains “forward-looking
statements.” Forward-looking statements reflect our current view
about future events. Investors can identify these forward-looking
statements by words or phrases such as “may,” “will,” “could,”
“expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,”
“believe,” “is/are likely to,” “propose,” “potential,” “continue”
or similar expressions. These forward-looking statements include
our anticipated clinical program, the timing and success of our
anticipated data announcements, pre-clinical and clinical trials
and regulatory filings, statements about the strength of our
balance sheet. These forward-looking statements involve known and
unknown risks and uncertainties and are based on the Company’s
current expectations and projections about future events that the
Company believes may affect its financial condition, results of
operations, business strategy and financial needs. Such risks and
uncertainties include, but are not limited to, risks associated
with the Company’s development work, including any delays or
changes to the timing, cost and success of the Company’s product
development and clinical trials, risk of insufficient capital
resources, cash funding and cash burn and risks associated with
intellectual property and infringement claims. The Company
undertakes no obligation to update or revise publicly any
forward-looking statements to reflect subsequent occurring events
or circumstances, or changes in its expectations, except as may be
required by law. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that such expectations will turn
out to be correct, and the Company cautions investors that actual
results may differ materially from the anticipated results and
encourages investors to review other factors that may affect its
future results described in the Company’s “Risk Factors” section
and other sections in its Annual Report on Form 10-K, most recent
quarterly filings and other filings with the U.S. Securities and
Exchange Commission.
Contacts:
Stephanie Prince PCG Advisory sprince@pcgadvisory.com (646)
863-6341
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