Quintis Ltd Operational Update

Operational Update: Quintis Ltd (ASX: QIN) stock also fell over 5% on May 01, 2017 despite some positive news. The company’s pharmaceutical subsidiary, Santalis Pharmaceuticals, has now held its end of Phase 2 meeting with the U.S. Food and Drug Administration. After the meeting and the written feedback from the FDA, Santalis now has a well-defined U.S. regulatory pathway to move into Phase 3 for the study of Quintis’ Sandalwood Album oil to treat HPV skin warts in a pediatric population. Further, Santalis expects to initiate Phase 3 trials for this program within twelve months. Moreover, the Australian Patent Office has issued Santalis Patent No. 2011223758 containing sixteen claims covering the use of sandalwood oil compositions to treat a variety of cancers including leukemia and solid tumors, such as bladder cancer. Additionally, regarding the progress on a new wood sales contract to China, the company has confirmed it has selected its preferred off-take counterparty and negotiations are well advanced, however no final sales agreement has yet been signed. On the other hand, the group granted a put option in 2014 to an institutional plantation owner for selling 400 hectares of plantations to them at a pre-determined price.The terms of this option were amended in July 2016 so that the put option was exercisable by 30 April 2017, but the group again extended this which might be exercised between 10 July 2017 and 14 July 2017 or between 11 December 2017 and 15 December 2017.   

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