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ICo Therapeutics Announces Second Quarter 2013 Financial Results

Liquidity and Outstanding Share Capital As at June 30, 2013, we had cash and cash equivalents and short-term investments of $3,198,196 compared to $1,260,196 as at December 31, 2012.

As at August 26, 2013, we had an unlimited number of authorized common shares with 64,514,230 common shares issued and outstanding and 20,038,118 warrants outstanding with exercise prices ranging between $0.30 and $0.60 and expiry dates ranging from November 2, 2013 to May 17, 2018.

As at August 26, 2013, we had 2,925,000 options outstanding. Each option entitles the holder to purchase one additional common share at exercise prices ranging from $0.18 to $0.73 and expiry dates ranging from February 14, 2014 to January 21, 2018.

For complete financial results, please see our filings at www.sedar.com.

About iCo Therapeutics iCo Therapeutics in-licenses and redefines existing drug candidates or generics by employing reformulation and delivery technologies for new or expanded use indications. The company has exclusive worldwide rights to two drug candidates - iCo-007 for Diabetic Macular Edema (DME) and iCo-008 for other sight-threatening diseases. iCo-007 is in Phase 2 clinical studies for DME. With Phase 2 clinical history, iCo-008 is targeted for the treatment of keratoconjunctivitis and wet age-related macular degeneration. In addition, iCo holds worldwide rights to an oral drug delivery platform. The first platform candidate is the Oral Amp B Delivery system, utilizing a known anti-fungal drug to treat life-threatening infectious diseases.  iCo trades on the TSX Venture Exchange under the symbol "ICO".  For more information, visit the Company website at: www.icotherapeutics.com.

No regulatory authority has approved or disapproved the content of this release.  The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.   

Forward Looking Statements Certain statements included in this press release may be considered forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995.  Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will," and similar references to future periods. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on iCo's current beliefs as well as assumptions made by and information currently available to iCo and relate to, among other things, anticipated financial performance, business prospects, strategies, regulatory developments, market acceptance and future commitments. Readers are cautioned not to place undue reliance on these forward-looking statements, which are based only on information currently available to iCo and speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by iCo in its public securities filings and on its website, actual events may differ materially from current expectations. iCo disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE iCo Therapeutics Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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