ONCOTELIC THERAPEUTCS INC - OTLC STOCK NEWS

Oncotelic Therapeutics (OTCQB:OTLC) has announced a strategic partnership with Vectara to leverage natural language understanding (NLU) technologies to enhance drug discovery and development in cancer, infectious disease, and aging.

The collaboration aims to streamline the research process by creating validated data corpora, making it easier for scientists to extract valuable insights from extensive research literature. This initiative seeks to accelerate the pace of pharmaceutical advancements and improve therapeutic outcomes.

Vectara's LLM-powered search and its innovative 'Grounded Generation' technology will be utilized to provide precise, relevant information, thus revolutionizing the application of AI in pharma research. Both companies anticipate significant advancements through this partnership.

Oncotelic Therapeutics, Inc. (OTCQB: OTLC) reported a net income of approximately $4.7 million for the fiscal year 2022, a significant improvement from a loss of $10.5 million in 2021. Factors contributing to this reduction include a decrease in operating expenses, with R&D costs declining by $2.9 million to $0.76 million and G&A expenses down by $0.6 million to $4.9 million. The company also recorded a $4.1 million goodwill impairment and $3 million in interest expenses. Cash at year-end stood at $0.26 million, reflecting challenges with liquidity and an accumulated deficit of $25.9 million. Despite these challenges, Oncotelic aims to expand its drug development initiatives, including initiating new clinical trials in oncology.

Oncotelic Therapeutics, Inc. (OTCQB:OTLC) announced the release of Pet2DAO LLC tokens (PDAO) for its shareholders. Eligible shareholders can claim PDAO tokens at a rate of one token for every 2,000 shares owned by April 1, 2023, with a deadline to claim by July 31, 2023. The token distribution aims to enhance shareholder engagement in decision-making processes. Following verification, tokens will be issued within 10 business days. The tokens are primarily for proposal-making and voting within the subsidiary, Pet2DAO, and do not hold monetary value. Future plans may involve registering the tokens as securities with the SEC.

Oncotelic Therapeutics (OTLC) has launched its Pet2DAO website, facilitating the distribution of PDAO tokens to shareholders. Eligible shareholders, who must have owned at least 2,000 shares of OTLC by April 1, 2023, will receive one PDAO token per 2,000 shares owned. This initiative aims to enhance shareholder engagement and participation in the Pet2DAO ecosystem. The company focuses on oncology drug development, particularly for rare pediatric cancers and conditions like Parkinson's disease and erectile dysfunction. Oncotelic has various joint ventures and aims to address unmet medical needs.

Oncotelic Therapeutics (OTCQB:OTLC) has published research indicating that high levels of TGFβ2 in pediatric brainstem tumors predict poor treatment outcomes. This study emphasizes the need for innovative approaches targeting TGFβ2 for enhanced treatment efficacy in Diffuse Intrinsic Pontine Glioma (DIPG), a notoriously aggressive pediatric cancer. With median survival around 10 months, current treatment options yield unsatisfactory results. Notably, OT-101, a TGFβ2 inhibitor, is advancing in clinical trials. The study has been added to the National Institute for Health and Care Research portfolio, highlighting its significance in addressing pediatric cancer treatment challenges.

Oncotelic Therapeutics, Inc. (OTCQB:OTLC) announced the initiation of a second investigator-initiated study for non-small cell lung cancer, collaborating with the Fred Hutchinson Cancer Center and a major pharmaceutical company. This phase involves approximately 30 patients and utilizes the oligodeoxynucleotide OT-101 along with an FDA-approved anti-PD-L1 inhibitor. The company plans to start up to seven additional clinical studies in various oncology indications. OT-101 has shown promising results, receiving FDA orphan designation for rare diseases, including DIPG. Oncotelic is committed to addressing rare pediatric cancers and expanding its oncology portfolio.

Oncotelic Therapeutics (OTCQB:OTLC) announced the submission of a clinical study protocol to the FDA for a Phase 2b/3 trial (P201) of its TGF-β2 inhibitor, OT-101, targeting metastatic pancreatic cancer. This innovative therapy will be evaluated in combination with FOLFOX versus FOLFOX alone for patients who progressed after first-line treatment. OT-101 has shown promise in previous studies, achieving a 54% disease control rate among evaluable pancreatic cancer patients. The trial aims to address the increasing mortality rate associated with pancreatic cancer, which is projected to become the second leading cause of cancer-related deaths in the US by 2030.

Oncotelic Therapeutics (OTCQB:OTLC) has launched its new subsidiary, Pet2DAO, which aims to revolutionize governance through Decentralized Autonomous Organization (DAO) principles. Pet2DAO will focus on the animal health sector, leveraging a robust governance structure. Eligible Oncotelic shareholders with a minimum of 2000 shares as of April 1, 2023, will receive PDAO tokens, facilitating their participation in the DAO. The initiative aims to engage key opinion leaders and developers, while combining traditional corporate governance with blockchain innovations. This launch could significantly impact Oncotelic's market positioning as it seeks to embrace modern technological advances.

Oncotelic Therapeutics (OTLC) has made significant progress towards its IPO, enhancing its OT-101 immunotherapy program with plans for at least 10 investigator-initiated studies (IIS) in 2023. The company is actively developing its manufacturing capabilities and expanding into animal health through its subsidiary, Pet2DAO. Clinical trials for OT-101 in pancreatic and glioma cancers are advancing, showcasing promising results, such as a 55% long-term disease control rate in pancreatic cancer patients. Additionally, the company has successfully reduced R&D costs by over 95% while maintaining project expansion.