Inspyr Therapeutics Inc (OTCMKTS: NSPX) is making an explosive move up the charts on fast accelerating volume in recent trading. NSPX has a history of big moves skyrocketing in March of this year, a run we covered and so when NSPX heats up, investors pay attention.
NSPX is on the move after the Company announced in an 8k and press release it has reacquired its proprietary technology, RT-AR001 targeting delivery of adenosine receptor antagonists as treatments for cancer. Ridgeway also became owner of 54.14% of the Company’s issued and outstanding common stock.
Inspyr Therapeutics Inc (OTCMKTS: NSPX) operating out of WestLake Village, California is focused on the development of immune-oncology precision therapies that utilize its proprietary technology, RT-AR001 targeting delivery of adenosine receptor antagonists as treatments for cancer. Through its acquisition of Lewis and Clark Pharmaceuticals, Inc., Inspyr is also focusing on a pipeline of small molecule adenosine receptor modulators.
Inspyr has several products under development including RT-AR001 an intra-tumoral delivery technology has shown more effective drug delivery with an enhanced response rate by targeting the tumor microenvironment. Over the past few years Inspyr was focused on developing Mipsagargin, a prodrug targeting the tumor vasculature that has therapeutic potential in a wide range of malignancies as well as Adenosine, an extracellular signaling molecule that regulates multiple aspects of tissue function and specifically plays a role in immunity and inflammation.
Inspyr has developed a robust intellectual property portfolio covering proprietary A2A agonists (LNC-001, see below), A2B antagonists (LNC-002, see below), and dual A2A/A2B antagonists (LNC-003, see below). The Company also has a substantial catalog of synthesized compounds, specifically A2A agonists and A2B antagonists that require further characterization and testing for potential clinical candidates. Inspyr believes its proprietary dual A2A/A2B antagonists have great potential and should be further explored. Inspyr intellectual property (IP) was developed over 15 years at Johns Hopkins University and the University of Copenhagen with over $15 million in scientific grants from the National Cancer Institute, the U.S. Department of Defense, and the U.S. National Institutes of Health, among others. Inspyr has strategically expanded its portfolio to include 15 issued U.S. patents and more than 40 pending applications worldwide, focused on the U.S., Europe, and Asia Pacific.
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NSPX is up big after the Company announced it has acquired a novel immuno-oncology delivery technology targeting adenosine receptor antagonists for the treatment of cancer. The technology was previously acquired by Inspyr and then licensed to Ridgeway Therapeutics, Inc. In exchange for: (i) 65,000,000 shares of Common Stock and (ii) 8,000 shares of Series F Convertible Preferred Stock, Inspyr has reacquired all rights previously licenses, as well as improvements thereto made by Ridgeway, and will assume all further preclinical and clinical development relating to RT-AR001 and all other proprietary assets. RT-AR001 ‘s intra-tumoral delivery technology has shown more effective drug delivery with an enhanced response rate by targeting the tumor microenvironment.
The Company also filed an 8k which provided further details of the transaciton; Inspyr and Ridgeway Therapeutics have terminated the licensing agreement previously entered into on August 3, 2018 whereby the Company had previously licensed RT-AR001 to Ridgeway. Inspyr issued 65 million shares to Ridgeway giving it approximately 54.14% of the Company’s issued and outstanding common stock. As a result of the Termination Agreement, Inspyr reacquired full ownership and worldwide rights to all of the Licensed Assets as well as any improvements made thereto.
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Currently running up the charts NSPX is an exciting story in small caps; the Company just reacquired its proprietary technology, RT-AR001 targeting delivery of adenosine receptor antagonists as treatments for cancer. Ridgeway also became owner of 54.14% of the Company’s issued and outstanding common stock. Inspyr technology and long list of patents may leverage its value to secure partner deal with a top biotech company and others currently working on treatments and vaccines, or increasing the probability for an outright acquisition of Inspyr. The Company owns a patent portfolio which includes 15 issued U.S. patents and more than 40 pending applications worldwide, focused on the U.S., Europe, and Asia Pacific We will be updating on NSPX when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with NSPX.
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Disclosure: we hold no position in NSPX either long or short and we have not been compensated for this article.