OXIS International, Inc. (OTCMKTS:OXIS) recently made an explosive move up to highs near $0.07 before giving back most of its gains.
There is huge buzz on this stock; Tony Cataldo the founder of LBIO that trades over $9 a share on the NASDAQ with a $240 million market valuation is CEO of this one.
OXIS International, Inc. (OTCMKTS:OXIS) is a biotech company that develops and commercializes innovative drugs of therapeutic molecules including cannabinoids, which are focused on several cancer indications. Oxis address the clinical shortcomings of existing commercial products in related fields. OXIS has formed relationships with some of the world’s leading cannabinoid researchers and institutions to advance its technologies.
Back in February CEO Tony Cataldo issued a letter to shareholders that said ”Oxis had a dynamic and exciting 2014 making a significant change in direction. We completed all of the Company’s SEC filings bringing them current, and up listed the company from the “Pink Sheets” to the OTCQB.
We laid the groundwork for Oxis Biotech, Inc with the inclusion of strategically chosen indications for cancer drug development. The first of which was our announcement of our new worldwide exclusive Patent Licensing of “P62 Chemical Agents and Multiple Myeloma Therapeutics” with Dr. Xiang-Qun (Sean) Xie. We are now building our Scientific Advisory Board with the addition of Dr. Sean Xie, Dr. James Mule Dr. Lisa A. Haile.
As the founder of Lion Biotechnologies, Inc. (LBIO $240 Million market capitalization) I found the same dynamics when creating the nucleus for markets in cell therapies, which brought significant market cap appreciation in exploding biotech sectors. They are now present in the Cannabinoid/Medical Marijuana sector for Oxis Biotech, Inc. to take advantage of.
Dr. Xie , MD, PhD, EMBA is one of the world’s foremost cannabinoid research scientists. With the inclusion of our new P62 Multiple Myeloma Therapeutics platform, we are posed to be a significant player in the large and expanding market for Myeloma Therapeutic drug therapies. Multiple myeloma remains an incurable malignancy with systematic morbidity and a median survival of 3-5 years.
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Dr. Xie has performed laboratory pre-clinical studies and confirmed anti-multiple myeloma therapeutic potential of the discovered p62ZZ chemical agents. Our P62 drug therapy data exhibits notable p62 antagonistic effects and significantly reduced survival of human MM cells, and also inhibited osteoclastogenesis thus causing bone density to increase as well. We look forward to advancing it towards FDA approval.
On March 12 OXIS annoujnced the execution of a definitive licensing and development agreement with MultiCell Immunotherapeutics, Inc. (MCIT) concerning the development of certain antibody-drug conjugates (ADCs). These ADCs are thought to be useful for the treatment of triple-negative breast cancer, and multiple myeloma and associated osteolytic lesions which are significant unmet medical needs.
Under the terms of the agreement, MCIT will develop three ADC product candidates which contain OXIS’ lead drug candidates OXS-2175 and OXS-4235. OXIS paid MCIT a license fee of $500,000 and will reimburse MCIT up to $1.125 million for its development costs to make the three ADCs exclusively licensed to OXIS. Assuming all clinical development milestones are achieved and manufacturing rights to the three ADCs purchased, OXIS will pay MCIT an additional sum of $22.75 million and pay a royalty of 3% of net yearly worldwide sales upon marketing approval of the ADCs.
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Currently trading at a $23 million market valuation OXIS has $644,000 in the treasury, mounting short term debt and minimal revenues to date. Since pink and $.0032 last year OXIS has come a long way with Tony Cataldo taking over as CEO and the Company up listing to the OTCBB. Mr. Cataldo has employed the same strategy that he used as founder of LBIO and speculators seem to love the news with OXIS quickly gaining a loyal shareholder base that swears this one goes way higher. We will be updating on OXIS when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with OXIS.
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Disclosure: we hold no position in OXIS either long or short and we have not been compensated for this article.