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MANCHESTER, NH -- (Marketwired) -- 08/13/15 -- Boston Therapeutics, Inc. (OTCQB: BTHE), a leading developer of novel compounds based on complex carbohydrate chemistry for the treatment of diabetes and inflammatory disease, today reported its financial results for the second quarter and six months ended June 30, 2015 and provided a corporate update.
David Platt, Ph.D., Chief Executive Officer, Boston Therapeutics, said, "We are making progress in the development of our lead therapeutic candidate, BTI-320. We are in the process of initiating a clinical trial with Joslin Diabetes Clinic as the lead site of which timing will be dependent upon securing financing. Also our strategic partner, Advance Pharmaceutical Company, Ltd., (APC), based in Hong Kong, has initiated a clinical trial for BTI-320 with China University in Hong Kong as a precursor to seeking approval with the Chinese FDA. BTI-320 is designed as preventative medicine for people who are pre-diabetic and need to manage their blood sugar as well as for people with type 2 diabetes. We believe we are the only company to develop a safe, non-toxic compound to manage blood sugar non-systemically," said Dr. Platt.
Business and Clinical Highlights for the Second Quarter 2015 and Subsequent Developments:
Financial Results for the Second Quarter Ended June 30, 2015:
Boston Therapeutics believes its cash resources will be sufficient to fund planned operations into September 2015. The Company is seeking additional capital through private placements, public offerings, private debt or equity financings but there can be no assurance that the Company will be able to raise necessary funding. Without such additional capital, the Company may be required to curtail or cease operations.
About Boston Therapeutics, Inc.
Boston Therapeutics, Inc., headquartered in Manchester, NH, (OTCQB: BTHE) is an innovator in designing compounds using complex carbohydrate chemistry. The company's product pipeline is focused on developing and commercializing therapeutic molecules that address diabetes and inflammatory diseases, including: BTI-320, a non-systemic therapeutic compound designed to reduce post-meal glucose elevation, and IPOXYN, an injectable anti-necrosis drug specifically designed to treat lower limb ischemia associated with diabetes. More information is available at www.bostonti.com.
Cautionary Note Regarding Forward Looking
This press release contains, in addition to historical information, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or future financial performance, and use words such as "may," "estimate," "could," "expect" and others. They are based on our current expectations and are subject to factors and uncertainties which could cause actual results to differ materially from those described in the statements. Factors that could cause our actual performance to differ materially from those discussed in the forward-looking statements include, among others, that our plans, expectations and goals regarding the clinical trials are subject to factors beyond our control and provide no assurance of FDA approval of any of our future drug development plans. Our clinical trials may not produce positive results in a timely fashion, if at all, and any necessary changes during the course of the trial could prove time consuming and costly. We may have difficulty in enrolling candidates for testing, which would affect our estimates regarding timing, and we may not be able to achieve the desired results. Any significant delays or unanticipated costs in any subsequent drug trial could delay obtaining meaningful results from Phase II studies and/or preparing for Phase III studies with the current cash on hand.
Upon receipt of FDA approval, we may face competition with other drugs and treatments that are currently approved or those that are currently in development, which could have an adverse effect on our ability to achieve revenues from our approved products. Plans regarding development, approval and marketing of any of our compounds, including BTI-320, are subject to change at any time based on the changing needs of our company as determined by management and regulatory agencies. We have incurred operating losses since our inception, and our ability to successfully develop and market drugs may be affected by our ability to manage costs and finance our continuing operations. For a discussion of additional risk and other factors affecting our business, see our Annual Report on Form 10-K for the year ended December 31, 2014, and our subsequent filings with the SEC. You should not place undue reliance on forward-looking statements, and actual results may differ materially from the results anticipated in our forward-looking statements. Although subsequent events may cause our views to change, we disclaim any obligation to update forward-looking statements.Boston Therapeutics, Inc. Anthony Squeglia Chief Financial Officer Phone: 603-935-9799 Email: NEXT ARTICLE
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