In Europe, the Company is currently pursuing agreements with top distributors in what AspenBio believes will be major sales territories, including Germany, UK, France, Italy and Benelux. The Company expects to file for and obtain CE Mark for its diagnostic test before the end of the year and hopes to be positioned to commence sales and distribution efforts as soon as possible thereafter.
September 30, 2012
, the Company had
in cash, cash equivalents and short-term investments. AspenBio believes it has sufficient cash to complete the planned pivotal trial, as well as launch the product in Europe.
Mr. Lundy concluded, "This is a critical time in the Company's history, with many exciting regulatory, development and commercial initiatives ongoing. We remain deeply focused on execution of these important milestones, and we look forward to providing additional near-term updates as we advance toward commercialization of our first diagnostic product."
Conference Call Information
The Company has scheduled its quarterly conference call and webcast for today,
November 13, 2012
4:30 p.m. ET
. Interested participants and investors may access the conference call by dialing 1-800-860-2442 (U.S.), 1-866-605-3852 (
) or 1-412-858-4600 (international). A live audio webcast will be accessible via the Investor Relations section of the AspenBio web site,
A telephonic replay of the call will be available for two weeks beginning at
8:00 p.m. ET
, 2012. Access numbers for this replay are 1-877-344-7529 (U.S./
) and 1-412-317-0088 (international); conference ID: 10020579. The webcast replay will remain available in the Investors Relations section of the AspenBio web site for 30 days.
About AspenBio Pharma
AspenBio Pharma, Inc. is an
diagnostic company focused on the clinical development and commercialization of its blood-based appendicitis test. The unique appendicitis test has projected high sensitivity and negative predictive value and is designed to aid in the identification of patients at low risk for acute appendicitis, allowing for more conservative patient management. The test is being developed initially for pediatric, adolescent and young adult patients with abdominal pain, as this population is at the highest risk for appendicitis and has the highest risk of long-term health effects associated with CT imaging. For more information, visit
This press release includes "forward-looking statements" of AspenBio Pharma, Inc. ("AspenBio") as defined by the Securities and Exchange Commission ("SEC"). All statements, other than statements of historical fact, included in this press release that address activities, events or developments that AspenBio believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made based on experience, expected future developments and other factors AspenBio believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of AspenBio. Investors are cautioned that any such statements are not guarantees of future performance. Actual results or developments may differ materially from those projected in the forward-looking statements as a result of many factors, including our ability to successfully complete required product development and modifications in a timely and cost effective manner, complete clinical trial activities for
required for FDA submission, obtain FDA clearance or approval, complete and obtain CE Mark, cost effectively manufacture and generate revenues from
, execute agreements required to successfully advance the company's objectives, retain the management team to advance the products, overcome adverse changes in market conditions and the regulatory environment, obtain and enforce intellectual property rights, and realize value of intangible assets. Furthermore, AspenBio does not intend (and is not obligated) to update publicly any forward-looking statements. The contents of this press release should be considered in conjunction with the risk factors contained in AspenBio's recent filings with the SEC, including its Form 10-Q for the period ended
September 30, 2012
November 7, 2012
For Investors & Media:
, PhD /
Tiberend Strategic Advisors, Inc.(212) 827-0020
SOURCE AspenBio Pharma, Inc.