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Oxygen Biotherapeutics is providing an update on the status of the Oxycyte(R) Phase IIb protocol that has been submitted to the FDA
COSTA MESA, CA, USA | July 9, 2008 | Oxygen Biotherapeutics, Inc. (OTCBB:OXBO) is providing an update on the status of the Oxycyte(R) Phase IIb protocol that has been submitted to the FDA. Oxycyte is the Company's perfluorocarbon (PFC) therapeutic oxygen carrier.
"We are in the process of submitting a final piece of information requested by the FDA. After that data has been submitted, we will wait to hear back from them. When there is material news, we will issue a public news release," said company chairman and CEO Chris J. Stern, DBA.
"We've had a lot of phone calls and emails the last two days asking about the trading in our stock. It's our policy not to comment on the day-to-day fluctuations in volume or price. However investors need to understand that stocks of early-stage biotech companies can be highly volatile. We've been told that certain sources may have been posting rumors about the company on internet message boards. If by chance anyone is selling our stock short while spreading rumors, legitimate investors can unwittingly aid this manipulation through their purchase and sale decisions. The company endeavors to keep the market up-to-date on developments as they occur through public news releases. So we do not believe there is any reason for investors to consider idle speculation on message boards," said Stern.
About Oxygen Biotherapeutics, Inc.
Oxygen Biotherapeutics, Inc. is dedicated to commercializing innovative pharmaceuticals and medical devices in the field of oxygen therapeutics and continuous substrate monitoring. The Company has under development a perfluorocarbon therapeutic oxygen carrier and liquid ventilation product and an implantable glucose sensor. These products are based upon core technologies that include biomedical applications for PFCs and medical and industrial applications for biosensors. Each of the product candidates is designed with advantages over currently marketed products in major markets including acute respiratory distress syndrome, stroke, myocardial infarction, surgery, trauma, malignant tumors and diabetes. For further information, visit www.oxybiomed.com.
SOURCE: Oxygen Biotherapeutics, Inc. |
