VANCOUVER, British Columbia, Feb. 13, 2018 (GLOBE NEWSWIRE) -- via NetworkWire - Pivot Pharmaceuticals Inc. (CSE:PVOT) (OTCQB:PVOTF) (“Pivot” or the “Company”), a biopharmaceutical company engaged in the development and commercialization of cannabinoid-based therapeutics using innovative drug formulation and delivery platform technologies, wishes to to address the recent decline in its share price.
There has been no material change to Pivot’s business plan that would justify the market decline. Pivot continues to successfully execute on its business strategy. Product development is advancing as planned and discussions are ongoing with potential acquisition or joint venture partners. We continue to aim for product sales commencing with the change in regulations anticipated to take effect in Canada in July 2018. Our recent press release clearly highlighted several key milestones achieved by Pivot and its world-class scientific collaborators.
About Pivot Pharmaceuticals Inc.
Pivot Pharmaceuticals Inc. is a biopharmaceutical company engaged in the development and commercialization of therapeutic pharmaceuticals and nutraceuticals using innovative drug delivery platform technologies. Pivot’s wholly-owned medical cannabis products division, Pivot Green Stream Health Solutions Inc. (“PGS” or “Pivot Green Stream”), conducts research, development and commercialization of cannabinoid-based nutraceuticals and pharmaceuticals. PGS has acquired worldwide rights to a Transdermal Drug Delivery platform technology (topical), Solmic Solubilisation technology (oral) and Thrudermic Transdermal Nanotechnology (transdermal) for the delivery and commercialization of cannabinoid, cannabidiol (CBD), and tetrahydrocannabinol (THC)-based products. PGS’ initial product development candidates will include topical treatments for women’s sexual dysfunction (PGS-N005), as well as psoriasis (PGS-N007), and an oral product (PGS-N001) for cancer supportive care. For more information please visit www.PivotPharma.com
Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as anticipate, believe, estimate, expect, intend, and similar expressions, as they relate to Pivot or Pivot Green Stream, or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. As a result of the foregoing, actual results could differ materially from those contemplated by the forward-looking statements as a result of the foregoing factors and certain other factors, such as the failure to meet the conditions imposed by the regulators, the level of business and consumer spending, the amount of sales of Pivot's products, the competitive environment within the industry, the ability of Pivot to continue to expand its operations, the level of costs incurred in connection with Pivot's expansion efforts, economic conditions in the industry, and the financial strength of Pivot's customers and suppliers. Pivot does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.
Pivot Pharmaceuticals Inc.
Patrick Frankham, PhD, MBA
Chief Executive Officer
Tel: (514) 943-1899
Corporate Communications Contact:
New York, New York
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