Viral Genetics has issued this announcement in response to a series of press releases distributed by collegestock.com on August 25 and August 26, and an article published on Today’s Financial News entitled TFN Reader Grapevine: There’s Something About Viral Genetics, Inc. (VRAL), on August 25.
The press releases and article discuss a rumor of the imminent filing of an Investigatory New Drug application (IND) with the FDA by Viral Genetics, and attribute the recent price and volume increases of the company’s common stock to that rumor. The company has not filed an IND with the FDA, and does not expect to do so within the month.
The company has completed certain laboratory studies required for an IND filing, and is planning animal studies that are also required. But the actual completion and filing of the IND package itself are not expected until later this year at the earliest, pending funding of required studies and successful completion of them.