Provectus Pharmaceuticals CEO Craig Dees, PhD Issues Executive Overview Letter
Wednesday January 9, 2008
Clinical Trials Progress and Corporate Milestones Highlighted
Management to Present to Institutions and Retail Brokers in Boston, Chicago, New York
KNOXVILLE, Tenn.--(BUSINESS WIRE)--Craig Dees, PhD, chief executive officer of Provectus Pharmaceuticals, Inc.
(OTCBB:
PVCT,
http://www.pvct.com),
has published his 2007 executive overview statement. The following letter from Dr. Dees was posted on the Company's website this morning. Additionally, management will present to institutions and retail brokers in Boston, Chicago, New York, and other cities throughout 2008 to increase investor awareness and visibility.
A LETTER TO OUR INVESTORS
As in years past, I am happy to report that 2007 represented another monumental period for Provectus, and 2008 holds even greater promise. We have never been in a stronger position, either financially or technically. For instance, we successfully increased our year-end cash position to its highest level ever, primarily through non-dilutive conversion of warrants issued in prior years; thus, affording us sufficient capital reserves for the next eighteen months. This estimation accounts for all current and planned clinical trials, as well as other key operational milestones.
On the technical side, PV-10, our lead oncology product, is proving to have multi-indication potential in oncology. It is currently in Phase 2 clinical testing for the treatment of metastatic melanoma; Phase 1 testing for recurrent breast cancer; and will soon undergo Phase 1/ 2 testing for liver cancer. We are extremely excited about the prospects of our oncology program, including:
-
Commencement of our Phase 2 metastatic melanoma trial at two sites in Australia with a location in the U.S. slated to start in early 2008. Several additional sites in the U.S. and Australia are expected to join the study by mid-year. We expect to assess interim results in the second half of 2008.
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Phase 1/2 liver cancer trial expected to commence during the first half of 2008.
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Phase 1 breast cancer trial recently expanded with completion expected in fourth quarter 2008.
Contemporaneously, PH-10, our topical product for dermatology, has shown promise with several major skin disorders. Some significant features of this program include:
-
Commencement of Phase 2 psoriasis trial at Mt. Sinai School of Medicine in New York with projected completion in the second half of 2008.
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Phase 2 eczema trial expected to commence in the second quarter of 2008.
We expect to accelerate our efforts in 2008, especially as our oncology and dermatology products progress through their respective clinical trials. Further details on these clinical trials can be found at the NIH registry,
www.clinicaltrials.gov.
Our intellectual property portfolio also benefited from our efforts in 2007. We were issued a number of important patents in the U.S., Europe, and Asia, highlighting our efforts to secure maximum shareholder value. This trend is expected to continue in 2008, as evidenced by recent allowances in these important jurisdictions.
Finally, in order to increase investor awareness and visibility of the Company, "key" members of top management will present to institutions and retail brokers in New York, Boston, Chicago, and other money centers across the U.S. throughout 2008. For further information regarding the meeting venues, please contact the Investor Relations Group via telephone at (212) 825-3210 or e-mail at
pvct.roadshow@investorrelationsgroup.com.
The Provectus team looks forward to continuing our efforts to increase shareholder value in 2008 while advancing products that should improve quality of life for patients with critical or chronic diseases.
About Provectus
Provectus specializes in developing oncology and dermatology therapies that are safer, more effective, less invasive and more economical than conventional therapies. Provectus is currently conducting clinical trials of their proprietary drugs PV-10 as a therapy for melanoma, breast, and liver cancer, and PH-10 as a topical treatment for severe psoriasis and eczema. The Company recently commenced Phase 2 clinical testing of PV-10 for melanoma and has received orphan drug designation from the FDA for melanoma. Initial Phase 1 clinical trial objectives for PV-10 for breast cancer were completed in April 2006, but the trial has been extended to more properly determine optimal dosing. Additionally, the Company has begun Phase 2 of clinical testing of its topical product PH-10 for psoriasis. Complementing their suite of proprietary drugs, Provectus has developed a number of intellectual properties and technologies in the areas of imaging, medical devices and biotechnology. For additional information about Provectus please visit the Company's website at
www.pvct.com or contact the Investor Relations Group via the information provided below.
FORWARD-LOOKING STATEMENTS:
The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date thereof.
Contact:
Provectus Pharmaceuticals, Inc.
Peter R. Culpepper, CFO, 866-594-5999 ext. 30
or
The Investor Relations Group
Investor Relations: Conrad Mir
or
Media: Hayden Lynch or Janet Vasquez
212-825-3210
Source: Provectus Pharmaceuticals, Inc.
