AVANT Announces Temporary Postponement of Conference Call
17 Maggio 2008 - 12:16AM
Business Wire
AVANT Immunotherapeutic (NASDAQ: AVAN) today announced that it has
postponed its first-quarter 2008 financial results call due to a
delay in filing its Form 10-Q for the period ended March 31, 2008.
The delay is necessary for management to finalize certain technical
accounting matters related to the recently completed AVANT-Celldex
merger. The Company will finalize its filings and reschedule the
call as soon as is practicable. About AVANT Immunotherapeutics,
Inc. AVANT Immunotherapeutics, Inc. is a NASDAQ-listed company
discovering and developing innovative vaccines and targeted
immunotherapeutics for the treatment of cancer, infectious and
inflammatory diseases. AVANT focuses on the use of tumor-specific
targets and human monoclonal antibodies (mAbs) to precisely deliver
therapeutic agents through its novel �targeted immunization�
approach. AVANT also possesses innovative bacterial vector delivery
technologies with unique manufacturing and preservation processes
that offer the potential for a new generation of infectious disease
vaccines. AVANT�s deep product pipeline consists of products in
varying stages of development, with its lead candidate, CDX-110,
partnered with Pfizer, Inc. (subject to Hart-Scott-Rodino
approval), currently undergoing evaluation in a Phase 2/3 clinical
trial in newly diagnosed glioblastoma multiforme, one of the most
aggressive forms of brain cancer. AVANT also has five product
candidates in its development pipeline including: CDX-1307, a
product based on its proprietary APC Targeting Technology�, which
is in two Phase 1 clinical trials for patients with advanced
pancreatic, bladder, breast and colon cancer; TP10, a complement
inhibitor, in development for transplantation and other
indications; and Three candidates based on its oral,
rapidly-protecting, single-dose and temperature-stable vaccine
technology, including combination vaccines for travelers, the
military and global health needs. AVANT has three commercialized
products, including Rotarix� for the prevention of rotavirus
infection and two human food safety vaccines for reducing
salmonella infection in chickens and eggs. Additional information
on AVANT Immunotherapeutics, Inc. can be obtained through its site
on the World Wide Web: http://www.avantimmune.com. Safe Harbor
Statement Under the Private Securities Litigation Reform Act of
1995: This release includes forward-looking statements that are
subject to a variety of risks and uncertainties and reflect AVANT�s
current views with respect to future events and financial
performance. There are a number of important factors that could
cause the actual results to differ materially from those expressed
in any forward-looking statement made by AVANT. These factors
include, but are not limited to: (1) the successful integration of
the businesses, multiple technologies and programs of AVANT and
Celldex; (2) the ability to adopt AVANT�s APC Targeting
TechnologyTM to develop new, safe and effective vaccines against
oncology and infectious disease indications; (3) the ability to
adapt AVANT�s vectoring systems to develop new, safe and effective
orally administered vaccines against disease causing agents; (4)
the ability to successfully complete product research and further
development, including animal, pre-clinical and clinical studies,
and commercialization of CDX-110, CDX-1307, CholeraGarde�
(Peru-15), Ty800, ETEC E. coli vaccine, and other products and
AVANT�s expectations regarding market growth; (5) the cost, timing,
scope and results of ongoing safety and efficacy trials of CDX-110,
CDX-1307, CholeraGarde� (Peru-15), Ty800, ETEC E. coli vaccine and
other preclinical and clinical testing; (6) the ability to
negotiate strategic partnerships or other disposition transactions
for AVANT�s cardiovascular programs, including TP10 and CETi; (7)
the ability of AVANT to manage multiple clinical trials for a
variety of product candidates; (8)�the volume and profitability of
product sales of Megan�Vac 1, Megan�Egg and other future products;
(9)�the process of obtaining regulatory approval for the sale of
Rotarix� in major commercial markets, as well as the timing and
success of worldwide commercialization of Rotarix� by our partner,
GlaxoSmithKline or Glaxo; (10)�Glaxo�s strategy and business plans
to launch and supply Rotarix� worldwide, including in the U.S. and
other major markets and its payment of royalties to AVANT; (11)
Pfizer�s and our strategy and business plans concerning the
continued development and commercialization of CDX-110; (12)
AVANT�s expectations regarding its technological capabilities and
expanding its focus to broader markets for vaccines; (13) changes
in existing and potential relationships with corporate
collaborators; (14) the availability, cost, delivery and quality of
clinical and commercial grade materials produced at AVANT�s own
manufacturing facility or supplied by contract manufacturers and
partners; (15) the timing, cost and uncertainty of obtaining
regulatory approvals, including Hart-Scott-Rodino approval of our
license and development agreement with Pfizer; (16) AVANT�s ability
to develop and commercialize products before competitors that are
superior to the alternatives developed by such competitors; (17)
AVANT�s ability to retain certain members of management;(18)
AVANT�s expectations regarding research and development expenses
and general and administrative expenses; (19) AVANT�s expectations
regarding cash balances, capital requirements, anticipated royalty
payments (including those from Paul Royalty Fund), revenues and
expenses, including infrastructure expenses; (20)�the ability to
obtain substantial additional funding; (21) AVANT�s belief
regarding the validity of our patents and potential litigation; and
(22) certain other factors that might cause AVANT�s actual results
to differ materially from those in the forward-looking statements
including those set forth under the headings �Business,� �Risk
Factors� and Management�s Discussion and Analysis of Financial
Condition and Results of Operations� in each of AVANT�s Annual
Report on Form 10-K, its current Reports on Form 8-K, as well as
those described in AVANT�s other press releases and filings with
the Securities and Exchange Commission, from time to time. You
should carefully review all of these factors, and you should be
aware that there may be other factors that could cause these
differences. These forward-looking statements were based on
information, plans and estimates at the date of this press release,
and AVANT does not promise to update any forward-looking statements
to reflect changes in underlying assumptions or factors, new
information, future events or other changes.
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