{"id":494126,"date":"2021-05-17T08:06:27","date_gmt":"2021-05-17T12:06:27","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/pds-biotech-receives-4-5m-after-selling-its-net-operating-loss-tax-benefits-through-the-new-jersey-economic-development-program\/"},"modified":"2021-05-17T08:06:27","modified_gmt":"2021-05-17T12:06:27","slug":"pds-biotech-receives-4-5m-after-selling-its-net-operating-loss-tax-benefits-through-the-new-jersey-economic-development-program","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/pds-biotech-receives-4-5m-after-selling-its-net-operating-loss-tax-benefits-through-the-new-jersey-economic-development-program\/","title":{"rendered":"PDS Biotech Receives $4.5M After Selling Its Net Operating Loss Tax Benefits Through The New Jersey Economic Development Program"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">FLORHAM PARK, N.J., May  17, 2021  (GLOBE NEWSWIRE) &#8212; PDS Biotechnology Corporation (Nasdaq: PDSB), a clinical-stage immunotherapy company developing novel cancer therapies and infectious disease vaccines based on the Company\u2019s proprietary Versamune\u00ae T-cell activating technology, today announced the receipt of $4.5 million from the net sale of tax benefits to an unrelated, profitable New Jersey corporation pursuant to the Company\u2019s participation in the New Jersey Technology Business Tax Certificate Transfer Net Operating Loss (NOL) program for State Fiscal Year 2020.<\/p>\n<p align=\"justify\">\u201cWe are pleased to receive an allocation from the New Jersey NOL program,\u201d said Frank Bedu-Addo, Chief Executive Officer of PDS Biotech. \u201cThe funding will be beneficial to us as we continue to efficiently utilize our resources to advance our immuno-oncology pipeline through development.\u201d<\/p>\n<p align=\"justify\">The NOL program enables qualified, unprofitable NJ-based technology or biotechnology companies with fewer than 225 U.S. employees (including parent company and all subsidiaries) to sell a percentage of net operating losses and research and development (R&amp;D) tax credits to unrelated profitable corporations. This allows qualifying technology and biotechnology companies with NOLs to turn their tax losses and credits into cash proceeds to fund growth and operations, including research and development or other allowable expenditures. PDS Biotech is one of 49 early-stage companies to share in approximately $54.5 million of tax credit transfers approved by NJEDA for the 2020 period.<\/p>\n<p align=\"justify\">\n        <strong>About PDS Biotechnology<\/strong>\n      <\/p>\n<p align=\"justify\">PDS Biotech is a clinical-stage immunotherapy company developing a growing pipeline of cancer immunotherapies and infectious disease vaccines based on the Company\u2019s proprietary Versamune\u00ae T-cell activating technology platform. Our Versamune\u00ae-based products overcome the limitations of current immunotherapy by inducing <em>in vivo<\/em>, large quantities of high-quality, highly potent polyfunctional tumor specific CD4+ helper and CD8+ killer T-cells. PDS Biotech has developed multiple therapies, based on combinations of Versamune\u00ae and disease-specific antigens, designed to train the immune system to better recognize diseased cells and effectively attack and destroy them. Our immuno-oncology product candidates are initially being studied in combination therapy to potentially enhance efficacy without compounding toxicity across a range of cancer types. The company\u2019s lead investigational cancer immunotherapy product PDS0101 is currently in Phase 2 clinical studies in HPV-associated cancers. To learn more, please visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=dLw_eWTiX_34GVYzb6tEtjPmdAF0wPOlYHQ9ot_j9D4m4fUW4i4qJNW7l0x8Owk1leqoREKtkLTYLbEBuM3CMhdYwkFZ9qc_rpGVFhQj7zM=\" rel=\"nofollow noopener\" target=\"_blank\">www.pdsbiotech.com<\/a> or follow us on Twitter at @PDSBiotech.<\/p>\n<p align=\"justify\">\n        <strong>Forward Looking Statements<\/strong>\n      <\/p>\n<p align=\"justify\">This communication contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended) concerning PDS Biotechnology Corporation (the \u201cCompany\u201d) and other matters. These statements may discuss goals, intentions and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs of the Company\u2019s management, as well as assumptions made by, and information currently available to, management. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as \u201cmay,\u201d \u201cwill,\u201d \u201cshould,\u201d \u201cwould,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cplan,\u201d \u201clikely,\u201d \u201cbelieve,\u201d \u201cestimate,\u201d \u201cproject,\u201d \u201cintend,\u201d \u201cforecast,\u201d \u201cguidance\u201d, \u201coutlook\u201d and other similar expressions among others. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: the Company\u2019s ability to protect its intellectual property rights; the Company\u2019s anticipated capital requirements, including the Company\u2019s anticipated cash runway and the Company\u2019s current expectations regarding its plans for future equity financings; the Company\u2019s dependence on additional financing to fund its operations and complete the development and commercialization of its product candidates, and the risks that raising such additional capital may restrict the Company\u2019s operations or require the Company to relinquish rights to the Company\u2019s technologies or product candidates; the Company\u2019s limited operating history in the Company\u2019s current line of business, which makes it difficult to evaluate the Company\u2019s prospects, the Company\u2019s business plan or the likelihood of the Company\u2019s successful implementation of such business plan; the timing for the Company or its partners to initiate the planned clinical trials for PDS0101, PDS0203 and other Versamune\u00ae based products; the future success of such trials; the successful implementation of the Company\u2019s research and development programs and collaborations, including any collaboration studies concerning PDS0101, PDS0203 and other Versamune\u00ae based products and the Company\u2019s interpretation of the results and findings of such programs and collaborations and whether such results are sufficient to support the future success of the Company\u2019s product candidates; the success, timing and cost of the Company\u2019s ongoing clinical trials and anticipated clinical trials for the Company\u2019s current product candidates, including statements regarding the timing of initiation, pace of enrollment and completion of the trials (including our ability to fully fund our disclosed clinical trials, which assumes no material changes to our currently projected expenses), futility analyses, presentations at conferences and data reported in an abstract, and receipt of interim results, which are not necessarily indicative of the final results of the Company\u2019s ongoing clinical trials; the acceptance by the market of the Company\u2019s product candidates, if approved; the timing of and the Company\u2019s ability to obtain and maintain U.S. Food and Drug Administration or other regulatory authority approval of, or other action with respect to, the Company\u2019s product candidates; and other factors, including legislative, regulatory, political and economic developments not within the Company\u2019s control, including unforeseen circumstances or other disruptions to normal business operations arising from or related to COVID-19. The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction with statements that are included herein and elsewhere, including the risk factors included in the Company\u2019s annual and periodic reports filed with the SEC. The forward-looking statements are made only as of the date of this press release and, except as required by applicable law, the Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.<\/p>\n<p align=\"justify\">\n        <strong>Media &amp; Investor Relations Contact:<\/strong>\n      <\/p>\n<p align=\"justify\">Deanne Randolph<br \/>PDS Biotech<br \/>Phone: +1 (908) 517-3613<br \/>Email: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=MFEisIiAAG5rwr2tiBe6RTNfEfeKjFmlJizPy8rsio8cuyY0rzCyvIdFm7HggGRTZVOR2PFe1A5hF6-fbyMYU8FvhE_fC4rrAvP5f3N8VNc=\" rel=\"nofollow noopener\" target=\"_blank\">drandolph@pdsbiotech.com<\/a><\/p>\n<p align=\"justify\">Rich Cockrell<br \/>CG Capital<br \/>Phone: +1 (404) 736-3838 <br \/>Email: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=t1cZc8uepYxSit7xd-eDdUnkXBbOmUBy-ltjP3WphK9TwnM4Kw9y7xgoMgkSslbkClb7fJj7TLVxhzMPj9S2jQ==\" rel=\"nofollow noopener\" target=\"_blank\">rich@cg.capital<\/a><\/p>\n<p \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIzNzMyNCM0MTg2MTYyIzIwMTcxODg=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/290ea448-ca25-4bda-8ed0-ba87f760a8e4\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>FLORHAM PARK, N.J., May 17, 2021 (GLOBE NEWSWIRE) &#8212; PDS Biotechnology Corporation (Nasdaq: PDSB), a clinical-stage immunotherapy company developing novel cancer therapies and infectious disease vaccines based on the Company\u2019s proprietary Versamune\u00ae T-cell activating technology, today announced the receipt of $4.5 million from the net sale of tax benefits to an unrelated, profitable New Jersey corporation pursuant to the Company\u2019s participation in the New Jersey Technology Business Tax Certificate Transfer Net Operating Loss (NOL) program for State Fiscal Year 2020. \u201cWe are pleased to receive an allocation from the New Jersey NOL program,\u201d said Frank Bedu-Addo, Chief Executive Officer of PDS Biotech. \u201cThe funding will be beneficial to us as we continue to efficiently utilize our resources to advance our &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/pds-biotech-receives-4-5m-after-selling-its-net-operating-loss-tax-benefits-through-the-new-jersey-economic-development-program\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;PDS Biotech Receives $4.5M After Selling Its Net Operating Loss Tax Benefits Through The New Jersey Economic Development Program&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-494126","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - 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