TORONTO, Jan. 11, 2012 /CNW/ - Spectral Diagnostics Inc., (TSX: SDI) (OTCQX: DIAGF), a Phase III company developing the first theranostic treatment for
patients with septic shock, announced that its common shares have
commenced trading today on OTCQX International, the highest tier of the
OTC market in the United States, under the symbol "DIAGF". Spectral's
common shares will continue to trade on the TSX under the symbol "SDI".
Spectral expects to benefit from trading on OTCQX by gaining greater
exposure and liquidity in the United States, which represents the major
market for its theranostic treatment, and where most of its Phase III
EUPHRATES trial sites are located.
"We believe OTCQX will provide an expedient and transparent forum
for investors in the United States, the world's largest equity market,
to evaluate Spectral as a prospective investment and increase awareness
of the Company's ongoing developments and progress," said Anthony
Businskas, Executive Vice President and CFO of Spectral.
Brean Murray, Carret & Co. will act as the Company's Principal American
Liaison (PAL) on OTCQX, and provide guidance on OTCQX requirements.
The OTCQX marketplace is the premier tier of the U.S. over-the-counter
market. Investor-focused companies use the quality-controlled OTCQX
marketplace to offer investors transparent trading, superior
information and easy access through regulated U.S. broker-dealers.
About Spectral Diagnostics
Spectral is a Phase III company seeking U.S. FDA approval for its lead
theranostics product for the treatment for severe sepsis and septic
shock. Toraymyxin is a therapeutic hemoperfusion device that removes
endotoxin, which can cause sepsis, from the bloodstream. Directed by
the Company's Endotoxin Activity Assay (EAA™), the only FDA cleared
diagnostic for the risk of developing sepsis. Spectral's EUPHRATES
trial is the world's first theranostics trial in the area of sepsis.
Toraymyxin has been approved for therapeutic use in Japan and Europe,
and has been used safely and effectively in more than 80,000 patients
to date. In March 2009, Spectral obtained the exclusive development and
commercial rights in the U.S. for Toraymyxin, and in November 2010,
signed an exclusive distribution agreement for this product in Canada.
More than 250,000 patients are diagnosed with severe sepsis and septic
shock in North America each year, representing a greater than $1
billion market opportunity for Spectral. Spectral is listed on the
Toronto Stock Exchange under the symbol SDI. For further information
please visit www.spectraldx.com
Information in this news release that is not current or historical
factual information may constitute forward-looking information within
the meaning of securities laws. Implicit in this information,
particularly in respect of the future outlook of Spectral and
anticipated events or results, are assumptions based on beliefs of
Spectral's senior management as well as information currently available
to it. While these assumptions were considered reasonable by Spectral
at the time of preparation, they may prove to be incorrect. Readers are
cautioned that actual results are subject to a number of risks and
uncertainties, including the availability of funds and resources to
pursue R&D projects, the successful and timely completion of clinical
studies, the ability of Spectral to take advantage of business
opportunities in the biomedical industry, the granting of necessary
approvals by regulatory authorities as well as general economic, market
and business conditions, and could differ materially from what is
The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this statement.
SOURCE Spectral Diagnostics Inc.
For further information:
| Anthony Businskas |
Executive Vice President and CFO
416-626-3233 ext. 2200
| Adam Peeler |
Media and Investor Relations
416-815-0700 ext. 225