Dallas, Texas (July 14 , 2011) – StockGuru shines its Spotlight on QuantRx® Biomedical Corporation (OTCBB: QTXB), an emerging leader in the development and commercialization of innovative diagnostic products based on its patented technology platforms for the worldwide healthcare industry. Today the Company announced that it has settled the lawsuit with NURX, its prior Joint Venture partner, with prejudice, and will be focusing its operations to expand its over-the-counter products and laboratory diagnostics to better serve its growing market demands. The settlement allows NURX to become QN Diagnostics, complete the development of the technology that was the basis of the QND Joint Venture, and provides QuantRx shareholders with 12 million shares of the new entity while voiding 4 million warrants in QuantRx. The Company closed at $0.08 trading on volume of 141,357 shares.
The operational changes will facilitate the transition by QuantRx from the Joint Venture-based developmental stage company to an enterprise focused on the marketing and manufacturing of innovative over-the-counter (OTC) healthcare products and expanding its genomic-based diagnostic technology targeting the monitoring of recurring cancers and serious fetal genomic disease and health conditions to the market. The company’s OTC pads for daily feminine hygiene and intergluteal pads for the temporary relief of hemorrhoids are being readied for market launch. Of special significance, the company is initiating a clinical study to confirm its innovative, and potentially practice changing, approach to fetal genomic diagnostics using its patented PadKit technology.
“Now that the settlement with our former joint venture partner has been successfully concluded, we will focus our efforts on bringing our products to the market as quickly as possible,” said Shalom Hirschman, MD, QuantRx Chairman and CEO. “As we now move to manufacturing and distribution of our unique products, and establish our brand names, we will need to focus our initial efforts on our market-ready products and validating our key research assumptions. We look to our OTC pads to provide our initial revenue base that will allow the company to pursue its creative diagnostic technologies.”
The imminent entry into clinical investigations to develop our novel approach to fetal genomic diagnostics is especially exciting,” stated Dr. William Fleming, QuantRx’s President & Chief Scientific Officer. “The refocusing of our efforts will enable us to rapidly enter the market and build shareholder value back into QuantRx with revenue and exciting new technology.”
About QuantRx Biomedical (www.quantrx.com)
QuantRx Biomedical Corporation (OTCBB: QTXB) is focused on the development and commercialization of innovative over-the-counter and genomic products for advanced diagnosis of serious disease and health conditions. With synergistic expertise in the discovery of diagnostic platforms leveraging a vast portfolio of intellectual property, QuantRx’s mission is to introduce products for use by its medical laboratory and consumers that deliver more accurate, reliable, and cost-effective diagnoses which result in improved patient care and a reduction in overall healthcare costs.
The QuantRx strategy targets significant market opportunities estimated to be in excess of $5 billion worldwide. The Company’s technology portfolio, with more than a dozen patents, patents pending and licensed patents, includes: PAD technology for over-the-counter applications, and the diagnosis and treatment of women’s health concerns and other medical needs, and significant investments in genome-based diagnostic chips for the laboratory and healthcare professional markets, addressing significant unmet medical needs by providing clinicians with important tools for early discovery and assessment.
This release may contain forward-looking statements within the meaning of the federal securities laws. Such forward-looking statements reflect, among other things, management’s current expectations, management’s current plans and strategies, and anticipated financial results, all of which are subject to known and unknown risks, uncertainties and factors that may cause our actual results to differ materially from those expressed or implied by these forward-looking statements. Many of these risks are beyond our ability to control or predict including; general economic conditions, the Company’s need for additional funds, the early state of the products the Company is developing, uncertainties relating to clinical trials and regulatory reviews, competition and dependence on collaborative partners, the Company’s ability to avoid infringement of the patent rights of others, and the Company’s ability to obtain adequate patent protection and to enforce these rights. Because of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. Furthermore, forward-looking statements speak only as of the date they are made. QuantRx does not undertake any obligation to update or review any such forward-looking information, whether as a result of new information, future events or otherwise.
Dr. William Fleming
President and CSO
QuantRx Biomedical Corporation
Executive Vice President, Marketing
To view the StockGuru Spotlight on OTCBB: QTXB, please visit: http://www.stockguru.com/category/latest-spotlights/
To get free alerts on this and other similar stocks, please register here:
What is the StockGuru Spotlight?
Many companies covered in The StockGuru Spotlight have positive increases in both volume and share price. While this is not true in all cases, StockGuru strives to cover companies in The StockGuru Spotlight that are worth of our readers’ attention.
StockGuru looks for potential break-out candidates in The StockGuru Spotlight. Many of these companies have had recent news and appear to be getting the attention of investors. StockGuru does not typically feature companies in The StockGuru Spotlight that are compensating StockGuru for this coverage. There are times when StockGuru covers a stock in The StockGuru Spotlight that had previously compensated Stockguru. Where that is the case, a proper disclosure is included below. StockGuru and its partners, employees and writers never hold shares, short positions, warrants or any other current position in a stock featured in The StockGuru Spotlight.
To feature a company in The StockGuru Spotlight please contact the Publisher at firstname.lastname@example.org. If our reader is a key person for a publicly traded company, StockGuru can consider that company for either a StockGuru Spotlight or a StockGuru Profile. Please contact the StockGuru Publisher John Pentony at this email address: email@example.com.
Stockguru.com (“SG”) provides its members with the latest news, press releases, and trade alerts for all the companies highlighted on the site StockGuru.com. SG utilizes information believed to be reliable herein prepared all material. The information contained herein is not guaranteed by SG to be accurate, and should not be considered to be all-inclusive. The owner, publisher, editor and their associates are not responsible for errors and omissions. SG encourages readers and investors to supplement the information in these reports with independent research and other professional advice. All information on featured companies is provided by the companies profiled, or is available from public sources and SG makes no representations, warranties or guarantees as to the accuracy or completeness of the disclosure by the profiled companies or the information contained herein. The companies that are discussed in this opinion have not approved the statements made in this opinion. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. SG is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed on http://www.Stockguru.com or mentioned herein.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected”, “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and SG undertakes no obligation to update such statements. StockGuru is occasionally compensated for coverage. When this is the case, SG clearly indicates this with a disclosure of all compensation received in the past and present. Additionally SG also discloses any anticipated compensation in the future. Compensation is typically in cash. Sometimes a company pays SG in restricted shares. Pentony Enterprise and its associated companies does not take free trading shares for any reason at anytime. StockGuru is not a registered investment adviser or a broker-dealer. StockGuru makes no recommendation that the purchase of securities of companies profiled in this web site is suitable or advisable for any person, or that an investment in such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market for their securities, investing in such securities is highly speculative and carries a high degree of risk.
John Pentony, Publisher, Stockguru.com
Tel: +1 469 252 3031