CALGARY, Alberta, July 28, 2020 (GLOBE NEWSWIRE) -- Resverlogix Corp. ("Resverlogix" or the "Company") (TSX:RVX) announces that it intends to rely on blanket exemptions issued by provincial securities commissions due to the COVID-19 outbreak that permit the Company to extend the filing deadline of certain continuous disclosure documents for a period of up to 45 days.
The Company intends to rely on the exemptive relief to extend the date of filing of its annual financial statements for the year ended April 30, 2020 and related management's discussion and analysis pursuant to National Instrument 51-102 (collectively, the "Annual Filings").
Resverlogix expects to rely on the exemption to file the Annual Filings on or before September 11, 2020, and notes that management and other insiders are subject to a trading black-out policy that reflects the principles in section 9 of National Policy 11-207.
Resverlogix confirms there have been no undisclosed material business developments since the filing on March 13, 2020 of the Company’s condensed interim consolidated financial statements and associated management's discussion and analysis for the nine-month period ended January 31, 2020 that have not been otherwise disclosed by Resverlogix by way of news release.
Resverlogix is developing apabetalone (RVX-208), a first-in-class, small molecule that is a selective BET (bromodomain and extra-terminal) inhibitor. Apabetalone is the first therapy of its kind to have been granted US FDA Breakthrough Therapy Designation – for a major cardiovascular indication – to help facilitate a time-efficient drug development program including planned clinical trials and plans for expediting the manufacturing development strategy.
BET inhibition is an epigenetic mechanism that can regulate disease-causing genes. Apabetalone is a BET inhibitor selective for the second bromodomain (BD2) within the BET proteins. This selective inhibition of apabetalone on BD2 produces a specific set of biological effects with potentially important benefits for patients with high-risk cardiovascular disease, diabetes mellitus, chronic kidney disease, end-stage renal disease treated with hemodialysis, neurodegenerative disease, Fabry disease, peripheral artery disease and other orphan diseases, while maintaining a well described safety profile.
Resverlogix common shares trade on the Toronto Stock Exchange (TSX:RVX).
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This news release may contain certain forward-looking information as defined under applicable Canadian securities legislation, that are not based on historical fact, including without limitation statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. In particular, this news release includes forward looking information related to the Company’s intention to rely on provincial securities regulator blanket exemptions that permit the Company to extend the filing deadline of certain continuous disclosure documents for a period of up to 45 days, the Company’s intention to file its Annual Filings on or before September 11, 2020 and the potential role of apabetalone in the treatment of patients with high-risk cardiovascular disease, diabetes mellitus, chronic kidney disease, end-stage renal disease treated with hemodialysis, neurodegenerative disease, Fabry disease, peripheral artery disease and other orphan diseases. Our actual results, events or developments could be materially different from those expressed or implied by these forward-looking statements. We can give no assurance that any of the events or expectations will occur or be realized. By their nature, forward-looking statements are subject to numerous assumptions and risk factors including those discussed in our Annual Information Form and most recent MD&A which are incorporated herein by reference and are available through SEDAR at www.sedar.com. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.