Otic Pharma Completes Merger with Tokai Pharmaceuticals
TOKAI PHARMACEUTICALS (TKAI)
US:NASDAQ Investor Relations:
investors.tokaipharma.com
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Source: PR Newswire
IRVINE, Calif., May 10, 2017 /PRNewswire/ -- Otic Pharma, Ltd., a pharmaceutical company focusing on the development of ear, nose, and throat (ENT) products, today announced the close of the previously announced combination with Tokai Pharmaceuticals, Inc. (NASDAQ: TKAI, through May 10, 2017). In connection with the previously announced transaction, Tokai changed its name to Novus Therapeutics, Inc. and effected a 1-for-9 reverse split of its common stock. The common stock is expected to commence trading on a post-reverse split basis upon the opening of trading on May 11, 2017 on the NASDAQ Capital Market under the symbol "NVUS." "The completion of this transaction and emergence of Novus as one of the few publicly-listed ENT companies marks a significant milestone," said Gregory J. Flesher, President and CEO of Novus Therapeutics, Inc. "Our pipeline provides a compelling opportunity for value creation as we move our product candidates through development. Wi
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