KENNEWICK, WA / ACCESSWIRE / May 23, 2017 / Advanced Medical Isotope Corporation (OTC PINK: ADMD).
This letter is to inform you of the progress on our veterinarian market activities (IsoPet).
I have been asked about the status of our first cat that was injected in November at Washington State University to treat feline sarcoma. That cat is alive and well after an objective response without any negative side effects. This first treatment, at a relatively low dose, tested our procedures and provided valuable clinical experience.
On May 12, we treated a second cat at Washington State University with a large sarcoma, escalating the therapy dose by about 50 percent. The cat has been returned to her owner and we will monitor the progress on response to therapy over the next several weeks. Results of these early clinical studies will help us to respond to questions posed by the FDA on therapeutic efficacy and safety. The detailed procedures that we are refining with these cat therapies are the same that we will be using to treat human skin cancer. Both are tumors at the surface of the skin.
We will initiate pre-clinical tests in surrogate tumor tissue at Colorado State University this month to complete their safety review and evaluation requirements for first clinical therapeutic use, anticipated in June. Likewise, the independent safety review at University of Missouri will be completed in a month, with first therapy to follow in June. We will next assess the University of California at Davis, which has the reputation of being a premier veterinary teaching center in the United States.
On the financial side, as discussed in our 10-Q, we successfully raised additional interim capital to retire some maturing debt and exchanged the remaining maturing debt that was outstanding for debentures that mature in May of 2018. This removes the near term uncertainty and now allows AMI to fully focus on execution of our plan for an uplisting later in the year.
We timely filed our 10-Q with the SEC and we anticipate holding an annual shareholder meeting in late June or early July. Since the 10-Q is now in the public domain, I have purchased another 100,000 shares of stock since, in my opinion, the stock is undervalued by a significant margin.
Advanced Medical Isotope Corporation
SOURCE: Advanced Medical Isotope Corporation