SAN DIEGO, March 11, 2013 /PRNewswire/ -- ADVENTRX
Pharmaceuticals, Inc. today completed its previously announced
corporate name change to "Mast Therapeutics, Inc." In
addition, effective at the opening of trading today, the Company's
new ticker symbol is "MSTX." The Company's common stock is
listed on the NYSE MKT.
The corporate website is available at
www.masttherapeutics.com.
The Company's lead product candidate will be referred to as
"MST-188" (formerly, ANX-188).
A new CUSIP number of 576314 108 has been assigned to the
Company's common stock and a new CUSIP number of 576314 116 has
been assigned to the common stock purchase warrants of the Company
that were issued in November
2011.
Outstanding stock certificates and warrants for shares of the
Company's common stock are not affected by the name change; they
will continue to be valid and need not be exchanged.
About Mast Therapeutics
Mast Therapeutics, Inc. is a
publicly traded biopharmaceutical company headquartered in
San Diego, CA. The Company
is leveraging the MAST (Molecular Adhesion and Sealant Technology)
platform, derived from over two decades of clinical, nonclinical
and manufacturing experience with purified and non-purified
poloxamers, to develop MST-188, its lead product candidate, for
serious or life-threatening diseases with significant unmet
needs. MST-188 is a cytoprotective, hemorheologic,
anti-inflammatory and anti-thrombotic agent that has potential
utility in diseases or conditions characterized by microcirculatory
insufficiency (endothelial dysfunction and/or impaired blood
flow).
The Company is recruiting subjects in EPIC, a pivotal phase 3
study of MST-188 in sickle cell disease. The Company plans to
initiate a phase 2 clinical study of MST-188 in acute limb
ischemia, a complication of peripheral arterial disease, in late
2013 or early 2014. More information can be found on the
Company's web site at www.masttherapeutics.com.
Forward Looking Statements
Mast Therapeutics cautions
you that statements included in this press release that are not a
description of historical facts are forward-looking statements that
are based on the Company's current expectations and assumptions.
Such forward-looking statements include, but are not limited to,
statements regarding the Company's development plans for MST-188,
including in sickle cell disease and acute limb ischemia, and the
timing of activities related to those plans. Among the
factors that could cause or contribute to material differences
between the Company's actual results and the expectations indicated
by the forward-looking statements are risks and uncertainties that
include, but are not limited to: the potential for delays in the
commencement or completion of clinical studies, including as a
result of difficulties in obtaining regulatory agency agreement on
clinical development plans or clinical study design, opening trial
sites, enrolling study subjects, manufacturing clinical trial
material, completing manufacturing process development activities,
and being subject to a "clinical hold"; the risk of suspension or
termination of a clinical study, including due to lack of adequate
funding or patient safety concerns; the potential for institutional
review boards or the FDA or other regulatory agencies to require
additional nonclinical or clinical studies prior to initiation of
planned phase 2 clinical studies of MST-188 in any particular
indication in which the Company determines to develop MST-188,
including acute limb ischemia, which likely would increase the
total time and cost of development in the indication; the risk that
clinical studies of MST-188 are not successfully executed and/or do
not successfully demonstrate its safety or efficacy; the risk that,
even if clinical studies are successful, the FDA determines they
are not sufficient to support a new drug application; the risk that
even if clinical studies of MST-188 in one indication are
successful, clinical studies in another indication may not be
successful; the Company's reliance on contract research
organizations (CROs), contract manufacturing organizations (CMOs),
and other third parties to assist in the conduct of important
aspects of development of MST-188, including clinical studies, and
regulatory activities for MST-188 and that such third parties may
fail to perform as expected; the Company's ability to obtain
additional funding on a timely basis or on acceptable terms, or at
all; the potential for the Company to delay, reduce or discontinue
current and/or planned development activities, including clinical
studies, partner MST-188 at inopportune times or pursue less
expensive but higher-risk development paths if it is unable to
raise sufficient additional capital as needed; the risk that
acceptable partnering opportunities for MST-188 may not be
available in particular jurisdictions or indications and,
consequently, the Company may not be able to pursue development of
MST-188 in certain jurisdictions and indications; the risk that the
FDA does not grant marketing approval of MST-188, on a timely
basis, or at all; the risk that the Company is not able to
adequately protect its intellectual property rights relating to the
MAST platform and MST‑188 and prevent competitors from duplicating
or developing equivalent versions of its product candidates,
including MST-188; and other risks and uncertainties more fully
described in the Company's press releases and periodic filings with
the Securities and Exchange Commission. The Company's public
filings with the Securities and Exchange Commission are available
at www.sec.gov.
You are cautioned not to place undue reliance on forward-looking
statements, which speak only as of the date when made. Mast
Therapeutics does not intend to revise or update any
forward-looking statement set forth in this press release to
reflect events or circumstances arising after the date hereof,
except as may be required by law.
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SOURCE ADVENTRX Pharmaceuticals