ORLANDO, Fla., Feb. 09, 2017 (GLOBE NEWSWIRE) -- Immune Therapeutics, Inc. (OTCQB:IMUN), a clinical-stage company developing novel therapies for the treatment of immuno-inflammatory diseases and cancer, today announced it has further strengthened its balance sheet through the refinancing of its largest remaining convertible debenture of $321,846 - in full.
By redeeming that debenture and refinancing it with debt at more favorable terms – by one institutional investor who is favorably inclined toward IMUN’s fundamentals – the Company is one step closer towards positive cash flow.
In its January 30, 2017 Letter to Shareholders, Immune Therapeutics stated its 2017 outlook which includes reaching positive cash flow by the end of the first half of 2017, and becoming profitable by year-end 2017 -- a projection it reiterates today.
Today’s news follows the Company’s November 15, 2016 news release in which it announced it had redeemed a $626,250 convertible debenture and was actively working to strengthen its balance sheet by restructuring its debt.
About the Company
Immune Therapeutics is a biotechnology company working to combat chronic, life-threatening diseases through the activation and modulation of the body's immune system using its patented immunotherapies with a focus of providing such therapies in emerging nations. Its products and immunotherapy technologies are designed to harness the power of the immune system to improve the treatment of cancer, infections such as HIV/AIDS, chronic inflammatory and autoimmune diseases.
The Company's proprietary technology, therapies and patents include the treatment of a wide range of cancers. Its most advanced clinical programs involve immunotherapy with met-enkephalin (MENK) (sometimes referred to as opioid growth factor) and its Low Dose Naltrexone product (LDN) or LodonalTM, which have been shown to stimulate the immune system even in patients with advanced cancer.
Forward Looking Statements
This release may contain forward-looking statements. Actual results may differ from those projected due to a number of risks and uncertainties, including, but not limited to, the possibility that some or all of the matters and transactions considered by the Company may not proceed as contemplated, and by all other matters specified in the Company's filings with the Securities and Exchange Commission. These statements are made based upon current expectations that are subject to risk and uncertainty. The Company does not undertake to update forward-looking statements in this news release to reflect actual results, changes in assumptions or changes in other factors affecting such forward-looking information. Assumptions and other information that could cause results to differ from those set forth in the forward-looking information can be found in the Company's filings with the Securities and Exchange Commission (www.sec.gov), including its recent periodic reports.