{"id":750256,"date":"2023-04-24T08:13:20","date_gmt":"2023-04-24T12:13:20","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/pds-biotech-receives-1-4-million-after-selling-its-net-operating-loss-tax-benefits-through-the-new-jersey-economic-development-program\/"},"modified":"2023-04-24T08:13:20","modified_gmt":"2023-04-24T12:13:20","slug":"pds-biotech-receives-1-4-million-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-1-4-million-after-selling-its-net-operating-loss-tax-benefits-through-the-new-jersey-economic-development-program\/","title":{"rendered":"PDS Biotech Receives $1.4 Million After Selling Its Net Operating Loss Tax Benefits Through The New Jersey Economic Development Program"},"content":{"rendered":"
\n

FLORHAM PARK, N.J., April 24, 2023 (GLOBE NEWSWIRE) — PDS Biotechnology Corporation<\/a> (Nasdaq: PDSB), a clinical-stage immunotherapy company developing a growing pipeline of targeted immunotherapies for cancer and infectious disease announced the Company received $1.4 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 2021.<\/p>\n

\u201cWe are pleased to receive funds from the New Jersey NOL program,\u201d said Matthew Hill, Chief Financial Officer of PDS Biotech. \u201cThe funding will be beneficial to us as we transition our lead asset, PDS0101, into a registrational trial for the treatment of HPV16-positive metastatic or recurrent head and neck cancer.\u201d<\/p>\n

The New Jersey Technology Business Tax Certificate Transfer program enables qualified, unprofitable NJ-based technology or biotechnology companies with fewer than 225 US employees (including parent company and all subsidiaries) to sell a percentage of their NOL and research and development tax credits to unrelated profitable corporations. This allows qualifying technology and biotechnology companies with NOLs to turn tax losses and credits into cash proceeds to fund their growth and operations, including research and development or other allowable expenditures.<\/p>\n

\n About PDS Biotechnology<\/strong>\u00a0<\/p>\n

PDS Biotech is a clinical-stage immunotherapy company developing a growing pipeline of targeted cancer and infectious disease immunotherapies based on our proprietary Versamune\u00ae, Versamune\u00ae plus PDS0301, and Infectimune\u2122 T cell-activating platforms. We believe our targeted immunotherapies have the potential to overcome the limitations of current immunotherapy approaches through the activation of the right type, quantity and potency of T cells. To date, our lead Versamune\u00ae clinical candidate, PDS0101, has demonstrated the ability to reduce tumors and stabilize disease in combination with approved and investigational therapeutics in patients with a broad range of HPV16-associated cancers in multiple Phase 2 clinical trials. and will be advancing into a Phase 3 clinical trial in combination with KEYTRUDA\u00ae for the treatment of recurrent\/metastatic HPV16-positive head and neck cancer in 2023.\u00a0\u00a0 Our Infectimune\u2122 based vaccines have also demonstrated the potential to induce not only robust and durable neutralizing antibody responses, but also powerful T cell responses, including long-lasting memory T cell responses in pre-clinical studies to date. To learn more, please visit www.pdsbiotech.com<\/a> or follow us on Twitter at @PDSBiotech.\u00a0<\/p>\n

\n Forward Looking Statements<\/strong>\u00a0<\/p>\n

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 and Infectimune\u2122 based product candidates; 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 and Infectimune\u2122 based product candidates 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 the Company\u2019s ability to fully fund its disclosed clinical trials, which assumes no material changes to the Company\u2019s currently projected expenses), futility analyses, presentations at conferences and data reported in an abstract, and receipt of interim or preliminary results (including, without limitation, any preclinical results or data), which are not necessarily indicative of the final results of the Company\u2019s ongoing clinical trials; any Company statements about its understanding of product candidates mechanisms of action and interpretation of preclinical and early clinical results from its clinical development programs and any collaboration studies; to aid in the development of the Versamune\u00ae platform;\u202f and other factors, including legislative, regulatory, political and economic developments not within the Company\u2019s control. 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, quarterly 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.\u202f\u202f\u00a0<\/p>\n

Versamune\u00ae is a registered trademark and Infectimune\u2122 is a trademark of PDS Biotechnology. KEYTRUDA\u00ae is a registered trademark of Merck Sharp and Dohme LLC, a subsidiary of Merck & Co., Inc., Rahway, N.J., USA.<\/p>\n

\n Investor Contacts:<\/strong>
\n
Deanne Randolph
PDS Biotech
Phone: +1 (908) 517-3613
Email: drandolph@pdsbiotech.com<\/a><\/p>\n

Rich Cockrell
CG Capital
Phone: +1 (404) 736-3838
Email: pdsb@cg.capital<\/a><\/p>\n

\n Media Contacts:\u00a0<\/strong>
\n
\n Tiberend Strategic Advisors, Inc.<\/a>
\n
Dave Schemelia\u00a0
Phone: +1 (609) 468-9325\u00a0
dschemelia@tiberend.com<\/a>\u00a0\u00a0
Bill Borden\u00a0
Phone: +1 (732) 910-1620\u00a0
bborden@tiberend.com<\/a><\/p>\n

\n
\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

FLORHAM PARK, N.J., April 24, 2023 (GLOBE NEWSWIRE) — PDS Biotechnology Corporation (Nasdaq: PDSB), a clinical-stage immunotherapy company developing a growing pipeline of targeted immunotherapies for cancer and infectious disease announced the Company received $1.4 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 2021. \u201cWe are pleased to receive funds from the New Jersey NOL program,\u201d said Matthew Hill, Chief Financial Officer of PDS Biotech. \u201cThe funding will be beneficial to us as we transition our lead asset, PDS0101, into a registrational trial for the treatment of HPV16-positive metastatic or … <\/p>\n

Continue reading “PDS Biotech Receives $1.4 Million After Selling Its Net Operating Loss Tax Benefits Through The New Jersey Economic Development Program”<\/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-750256","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nPDS Biotech Receives $1.4 Million After Selling Its Net Operating Loss Tax Benefits Through The New Jersey Economic Development Program - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/pds-biotech-receives-1-4-million-after-selling-its-net-operating-loss-tax-benefits-through-the-new-jersey-economic-development-program\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PDS Biotech Receives $1.4 Million After Selling Its Net Operating Loss Tax Benefits Through The New Jersey Economic Development Program - 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