MARKHAM, ON, Jan. 9 /PRNewswire-FirstCall/ - AlphaRx (OTC BB:ALRX - News)stated on Tuesday that CEO Michael Lee purchased 720,000 shares of AlphaRx IncCommon Stock in the open market, bringing the total number of shares purchasedto 2,219,700 within the last 60 days, reflecting his continued confidence inthe Company's future.
Mr. Michael Lee reported buying a total of 720,000 AlphaRx shares for anaverage price of $0.24 each, increasing his holdings to about 15,609,814shares or 17.06% of the company, according to a filing with the Securities andExchange Commission.
About AlphaRx Inc.
AlphaRx is a specialty pharmaceutical company utilizing proprietarysite-specific nanoparticulate drug delivery systems to develop novelformulations of drugs that are insoluble or poorly soluble in water or haveyet to be administrable to the human body with an acceptable delivery method.The Company also discovers and develops novel, small-molecule drugs for thetreatment of inflammatory diseases and neurodegenerative diseases.
Forward Looking Statements:
This release contains forward-looking statements within the meaning andpursuant to the Safe Harbor provisions of the Securities Litigation Reform Actof 1995 and involve risks and uncertainties that may individually or mutuallyimpact the matters herein described, including but not limited to productdevelopment and acceptance, manufacturing, competition, regulatory and/orother factors, which are outside the control of the companies.
SOURCE AlphaRx Inc.