Checkpoint Genetics Pharmaceuticals, Inc. Effects Reverse Split of Common Stock and Change of Ticker Symbol.Business Editors & Health/Medical Writers LOS ANGELES--(BW HealthWire)--June 13, 2001 Checkpoint Genetics Pharmaceuticals, Inc. (Pink Sheets: CKPT CKPT Checkpoint CKPT Cockpit ), a company that is engaged in the development of new drug candidates, primarily anti-oxidant prescription pharmaceuticals and nutritional supplements Nutritional Supplements Definition Nutritional supplements include vitamins, minerals, herbs, meal supplements, sports nutrition products, natural food supplements, and other related products used to boost the nutritional content of the diet. , through its subsidiary, Checkpoint Genetics, Inc., held a special meeting of the Board of Directors on June 10, 2001. At the meeting, the Board approved the proposal authorizing a reverse stock split at a ratio of ten to one, to be effective at opening of trading on June 30, 2001. The total number of shares held by each shareholder is automatically converted into an amount of whole shares of new common stock equal to the number of shares owned immediately prior to the reverse split divided by 10. The proportional voting power of each stockholder remains unchanged. Concurrent with the reverse split, the Company's ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors will be changed to a new symbol to be announced To be announced (TBA) A contract for the purchase or sale of an MBS to be delivered at an agreed-upon future date but does not include a specified pool number and number of pools or precise amount to be delivered. at a later date. The company believes that the reverse split will encourage greater interest by the investment community and open up more opportunities that may not have been previously available. Checkpoint Genetics Pharmaceuticals, Inc.'s technology, through its subsidiaries, is based upon a pending U.S. and worldwide patent portfolio filed on Feb. 9, 1999. The press release contains forward-looking statements made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Expression of future goals and similar expressions reflecting something other than historical fact involve risks and uncertainties. The actual results the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. |
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