Published on August 27, 2009 at 6:39 AM
Viral Genetics (Pink Sheets: VRAL), a biotechnology company that develops drug compounds for HIV/AIDS, autoimmune diseases, and cancer, is issuing this announcement in response to a series of press releases distributed by collegestock.com on August 25 and August 26, and an article published on Today's Financial News entitled "TFN Reader Grapevine: There's Something About Viral Genetics, Inc. (VRAL)," on August 25.
The press releases and article discuss a rumor of the imminent filing of an Investigatory New Drug application ("IND") with the US FDA by Viral Genetics, and attribute the recent price and volume increases of the company's common stock to that rumor. The company has not filed an IND with the FDA, and does not expect to do so "within the month".
The company has completed certain laboratory studies required for an IND filing, and is planning animal studies that are also required, but the actual completion and filing of the IND package itself are not expected until later this year at the earliest, pending funding of required studies and successful completion of them.
Investors, the public, and media are cautioned to refer only to press releases and disclosures made by Viral Genetics, Inc. for information on the company, including information about the FDA, drug development, and clinical trials. The company now files its periodic disclosures and financial statements on the OTCIQ system, which are available free of charge at www.pinksheets.com under the company's ticker symbol, VRAL, and through regular press releases which are widely available and indicate "Viral Genetics" as the Source.
Source: http://www.viralgenetics.com