WINNIPEG, March 11, 2019 /CNW/ - Waverley Pharma Inc.
("Waverley Pharma" or the "Company") (TSXV:WAVE), an emerging
Canadian pharmaceutical company, today reported unaudited
preliminary net revenue for the fourth quarter and full 2018 fiscal
year. All amounts referenced herein are in Canadian dollars.
Estimated net revenue is $200,000 for
the quarter ended December 31, 2018,
and the year ended December 31, 2018.
The estimated revenue is from sales of two generic oncology
products, temozolomide and capecitabine, in the United
Kingdom.
Year Ended December 31, 2018 Highlights:
- Filed Marketing Authorization Applications in the United States and select European
countries in the first half of fiscal 2018 for two anti-cancer
injectable generic products;
- Appointed new CEO, Dr. Theron (Ted)
Odlaug, in July 2018;
- Acquired two generic oncology products, temozolomide and
capecitabine, and initiated sales in the United Kingdom in the fourth quarter of fiscal
2018;
- Preliminary net revenue estimate for the quarter and year ended
December 31, 2018 is $200,000.
About Waverley Pharma
Waverley Pharma is an emerging pharmaceutical company focused on
the development and commercialization of effective and affordable
cancer therapeutics in the EU and North American market. The
Company has two generic oncology products at the regulatory filing
stage, and is currently marketing two additional generic oncology
products, temozolomide and capecitabine, in the United Kingdom. Waverley Pharma is committed
to providing patients with affordable prescription medicines that
lower healthcare costs and provide a better quality of life. For
more information on Waverley Pharma please visit
www.waverleypharma.com.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Forward Looking Information: Statements
contained in this press release that are not statements of
historical fact, including, without limitation, statements
containing the words "believes", "may", "plans", "will",
"estimates", "continues", "anticipates", "intends", "expects" and
similar expressions, may constitute "forward-looking information"
within the meaning of applicable Canadian and U.S. federal
securities laws (such forward-looking information and
forward-looking statements are hereinafter collectively referred to
as "forward-looking statements"). Forward-looking statements,
include the receipt of binding contracts with the UK National
Health Service, the eventual launch of WAV-101 and 102 in
the United States and European
Union, preliminary net revenue and loss amounts and other
regulatory filings, estimates, analysis and opinions of management
of the Company made in light of its experience and its perception
of trends, current conditions and expected developments, as well as
other factors which the Company believes to be relevant and
reasonable in the circumstances. Inherent in forward-looking
statements are known and unknown risks, uncertainties and other
factors beyond the Company's ability to predict or control that may
cause the actual results, events or developments to be materially
different from any future results, events or developments expressed
or implied by such forward-looking statements, and as such, readers
are cautioned not to place undue reliance on forward-looking
statements. Such risk factors include, among others, the Company's
potential product revenues, stage of development, additional
capital requirements, risks associated with the completion and
timing of clinical trials and obtaining regulatory approval to
market the Company's products, the ability to protect its
intellectual property, dependence upon collaborative partners,
changes in government regulation or regulatory approval processes,
and rapid technological change in the industry. Such statements are
based on a number of assumptions which may prove to be incorrect,
including, but not limited to, assumptions about: general business
and economic conditions; the impact of changes in Canadian-US
dollar and other foreign exchange rates on the Company's revenues,
costs and results; the timing of the receipt of regulatory and
governmental approvals for the Company's research and development
projects; the availability of financing for the Company's
commercial operations and/or research and development projects, or
the availability of financing on reasonable terms; the
uncertainties associated with the acceptance and demand for new
products and market competition. The foregoing list of important
factors and assumptions is not exhaustive. The Company undertakes
no obligation to update publicly or otherwise revise any
forward-looking statements or the foregoing list of factors, other
than as may be required by applicable legislation. Additional
discussion regarding the risks and uncertainties relating to the
Company and its business can be found in the Company's other
filings with the applicable Canadian securities regulatory
authorities.
SOURCE Waverley Pharma Inc.