OrthoLogic Updates Guidance for Release of Phase 3 Results for Chrysalin(R) in Fracture Repair
07 Marzo 2006 - 2:30PM
PR Newswire (US)
TEMPE, Ariz., March 7 /PRNewswire-FirstCall/ -- OrthoLogic Corp.
(NASDAQ:OLGC) today announced revised guidance for the expected
release of topline results from its Phase 3 clinical trial of
Chrysalin(R) (TP508) in fracture repair. Management now expects to
communicate topline results by March 31, 2006, which is revised
from previously provided guidance of April 30, 2006. About
OrthoLogic OrthoLogic is a biotechnology company focused on the
development and commercialization of the novel synthetic peptide
Chrysalin(R) (TP508) in two lead indications, both of which
represent areas of significant unmet medical need -- fracture
repair and diabetic foot ulcer healing. Based on the Company's
pioneering scientific research of the natural healing cascade,
OrthoLogic has become a leading company focused on tissue and bone
repair. The Company owns exclusive worldwide rights for Chrysalin.
OrthoLogic is committed to developing a pipeline of novel peptides
and other molecules aimed at helping patients with equally
under-served conditions. The Company has an exclusive worldwide
license to the novel pre-clinical 24-amino acid peptide AZX100, the
first of a new class of compounds in the field of smooth muscle
relaxation called Intracellular Actin Relaxing Molecules, or
ICARMs(TM). AZX100 is currently being investigated for medically
and commercially significant applications, such as the treatment of
vasospasm associated with subarachnoid hemorrhage, the prevention
of keloid scarring and the treatment of asthma. OrthoLogic's
corporate headquarters are in Tempe, Arizona. For more information,
please visit the Company's Web site: http://www.orthologic.com/.
Statements in this press release or otherwise attributable to
OrthoLogic regarding our business that are not historical facts are
made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements, which include the timing and acceptability of FDA
filings and the efficacy and marketability of potential products,
involve risks and uncertainties that could cause actual results to
differ materially from predicted results. These risks include:
delays in obtaining or inability to obtain FDA, institutional
review board or other regulatory approvals of preclinical or
clinical testing; unfavorable outcomes in our preclinical and
clinical testing; the development by others of competing
technologies and therapeutics that may have greater efficacy or
lower cost; delays in obtaining or inability to obtain FDA or other
necessary regulatory approval of our products; our inability to
successfully and cost effectively develop or outsource
manufacturing and marketing of any products we are able to bring to
market; changes in FDA or other regulations that affect our ability
to obtain regulatory approval of our products, increase our
manufacturing costs or limit our ability to market our products;
our possible need for additional capital in the future to fund the
continued development of our product candidates; and other factors
discussed in our Form 10-K for the fiscal year ended December 31,
2004 our Form 10-Q for the quarter ended September 30, 2005, and
other documents we file with the Securities and Exchange
Commission. DATASOURCE: OrthoLogic Corp. CONTACT: Media, Lauren
Tortorete of Biosector 2, +1-212-845-5609, , for OrthoLogic Corp.;
or Investors, Melanie Friedman of Stern Investor Relations,
+1-212-362-1200, , for OrthoLogic Corp. Web site:
http://www.orthologic.com/
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