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Lightlake Therapeutics Inc. Comments on Unusual Trading Activity
February 1, 2012 - LONDON -- Lightlake Therapeutics
Inc. (OTCBB:
LLTP - News)
(the “Company” or “Lightlake”), an early stage biopharmaceutical company
developing modern addiction treatments based on its expertise using
opioid antagonists, announced today that there have been no material
changes to its operations or its business affairs, and the Company is
not aware of any undisclosed developments that would account for the
recent unusual trading activity of its shares.
Dr. Roger Crystal, Chief Executive Officer of Lightlake, stated:
“Ordinarily we do not comment on atypical market activity or market
rumors, however due to the recent unusual trading activity of Lightlake
stock, I would like to take this opportunity to convey to the investment
community that our operations are progressing as expected. We are
completing the Phase II trials of an opioid antagonist nasal spray
treatment for Binge Eating Disorder, which we have fully funded, and we
are planning to begin Phase II testing of an opioid antagonist nasal
spray treatment for Bulimia Nervosa later this year at King’s College
London. Moreover, we have made arrangements with Europe's largest center
for research and post-graduate education in psychiatry, the Institute of
Psychiatry at Maudsley Hospital, to develop a new treatment for opiate
overdose and are planning to apply our patented technology to create
treatments for opioid, cocaine and amphetamine addictions, and will
also launch a study to investigate Premenstrual Overeating Syndrome. One
of our top priorities is maximizing shareholder value and I am confident
that as we head into the future, we will be better able to reward
Lightlake investors who stay the course.”
About Lightlake Therapeutics Inc.
Lightlake Therapeutics Inc. is a developing biopharmaceutical company
aiming to build a platform of biopharmaceutical solutions to common
addictions and related disorders. Currently, the Company is focused on
providing a safe, effective and simple treatment for patients who are
obese or overweight as a result of Binge Eating Disorder in addition to
those patients suffering from Bulimia Nervosa. Lightlake recently
acquired patents that will allow it to widen its product pipeline to
address patients with addictions to opioid painkillers, methadone,
cocaine and amphetamine. The Company anticipates launching a development
program for each of these purposes in the future.
Safe Harbor
This press release contains forward-looking statements. These statements
relate to future events or our future financial performance and involve
known and unknown risks, uncertainties and other factors that may cause
our or our industry's actual results, levels of activity, performance or
achievements to be materially different from any future results, levels
of activity, performance or achievements expressed, implied or inferred
by these forward-looking statements. In some cases, you can identify
forward-looking statements by terminology such as "may," "will,"
"should," "could," "would," "expects," "plans," "intends,"
"anticipates," "believes," estimates," "predicts," "projects,"
"potential" or "continue" or the negative of such terms and other
comparable terminology. These statements are only predictions based on
our current expectations and projections about future events. You should
not place undue reliance on these statements. Actual events or results
may differ materially. In evaluating these statements, you should
specifically consider various factors. These and other factors may cause
our actual results to differ materially from any forward- looking
statement. We undertake no obligation to update any of the
forward-looking statements after the date of this presentation to
conform those statements to reflect the occurrence of unanticipated
events, except as required by applicable law.
Investor Contact:
Mr. Kevin Fickle, President
NUWA Group LLC
Tel: +1-925-330-8315 Email:
kevin@nuwagroup.com
Company Contact:
Dr. Roger Crystal
Lightlake Therapeutics Inc. |