MIRAMAR, Fla., June 24, 2019 (GLOBE NEWSWIRE) — Generex Biotechnology Corporation (www.generex.com) (OTCQB:GNBT) (https://www.otcmarkets.com/stock/GNBT/quote) today announced the audio recording of its investor conference call, is now available for listening on our website www.generex.com, and the full, written transcript will be available, on Tuesday, June 25th.
The call updated investors on the previously announced 1:1 dividend that will be paid to shareholders upon up-list to the NASDAQ national stock exchange. Joseph Moscato, Generex President & Chief Executive Officer, discussed the company’s accomplishments including the launch of Excellagen® wound conforming matrix by subsidiary Olaregen Therapeutix, the reorganization of NuGenerex Distribution Solutions’ MSO model, the potential merger of NuGenerex Immuno-Oncology with Kiromic, a multi-platform immunotherapeutic company, and the launch of our new businesses NuGenerex Chronic Care Solutions (NCCS) and NuGenerex Health, as well as the strategic focus of Generex for 2019 and beyond.
Mr. Moscato commented, “As we discussed on Friday’s call, Generex has made significant strides toward achieving our goal of bringing Generex back to a national exchange. We have restructured our MSO, which now provides a compliant and efficient proprietary market channel for surgical, orthopedic, and podiatric products and services, including Excellagen, which is being launched for the management of hard to heal wounds in the VA, hospitals, and podiatrists’ offices. The potential merger of NuGenerex Immuno-Oncology with Kiromic offers significant value for our shareholders with the addition of three immunotherapy and AI platforms that augment our Ii-Key immunotherapeutic peptide vaccine technology. We are extremely excited to launch our new healthcare services business, NCCS and NuGenerex Health to complete our vision of Generex as an end-to-end solutions provider for physicians and patients.”
Mr. Moscato continued, “We are proud of our accomplishments to date, but this is only the beginning for the future of Generex. This final dividend to our shareholders fulfils a commitment I made when taking over the company at the beginning of 2017 to reward investor loyalty, as demonstrated by retiring the remaining 20+ million Pool shares and significantly reducing the dilution associated with the dividend. Our company is poised for growth, and I remain committed to executing on our strategy to deliver value for our shareholders.”
About Generex Biotechnology Corp.
Generex Biotechnology is an integrated healthcare holding company with end-to-end solutions for patient centric care from rapid diagnosis through delivery of personalized therapies. Generex is building a new kind of healthcare company that extends beyond traditional models providing support to physicians in an MSO network, and ongoing relationships with patients to improve the patient experience and access to optimal care.
In addition to advancing a legacy portfolio of immune-oncology assets, medical devices, and diagnostics, the Company is focused on an acquisition strategy of strategic businesses that complement existing assets and provide immediate sources of revenue and working capital. Recent acquisitions include a management services organization, a network of pharmacies, clinical laboratory, and medical device companies with new and approved products.
Our newly formed, wholly-owned subsidiary, NuGenerex Distribution Solutions (NDS), integrates our MSO network with a pharmacy network, clinical diagnostic lab, durable medical equipment company (DME-IQ) and dedicated call center.
Cautionary Note Regarding Forward-Looking Statements
This release and oral statements made from time to time by Generex representatives in respect of the same subject matter may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by introductory words such as “expects,” “plan,” “believes,” “will,” “achieve,” “anticipate,” “would,” “should,” “subject to” or words of similar meaning, and by the fact that they do not relate strictly to historical or current facts. Forward-looking statements frequently are used in discussing potential product applications, potential collaborations, product development activities, clinical studies, regulatory submissions and approvals, and similar operating matters. Many factors may cause actual results to differ from forward-looking statements, including inaccurate assumptions and a broad variety of risks and uncertainties, some of which are known and others of which are not. Known risks and uncertainties include those identified from time to time in the reports filed by Generex with the Securities and Exchange Commission, which should be considered together with any forward-looking statement. No forward-looking statement is a guarantee of future results or events, and one should avoid placing undue reliance on such statements. Generex undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Generex claims the protection of the safe harbor for forward-looking statements that is contained in the Private Securities Litigation Reform Act.