Targeted
Medical Pharma, Inc. (OTCQB:TRGM), today announced that senior
management has purchased 17,780 shares of the Company’s stock in the
open market during the fourth quarter of 2013. In addition, Company CEO
William Shell, M.D. also converted $1,000,000 in loans, which were made
to the company in 2011 to fund production growth, into TRGM common stock.
“The purchase of shares and conversion of loans by members of senior
management demonstrates our strong confidence in the company and
reflects our commitment to executing our business plan and delivering
shareholder value," said David Silver M.D., President and Chief
Operating Officer at Targeted Medical Pharma. “We have worked very hard
to improve revenue and manage operating costs and today’s announcement
reflects our growing confidence in Targeted Medical and the medical
foods sector.”
About Targeted Medical Pharma, Inc.
Targeted
Medical Pharma, Inc. is a Los Angeles-based biotechnology company
that develops medical
foods for the treatment of chronic disease, including pain
syndromes, peripheral neuropathy, hypertension, obesity, sleep and
cognitive disorders. The company also develops a line of dietary
supplements designed to support health and wellness. The company
manufactures 10 proprietary medical foods, and recently launched its
first dietary supplement, Clearwayz™.
The products are sold directly to physicians and pharmacies in the
U.S. The company also is developing nutrient-based systems for oral
stimulation of progenitor stem cells that differentiate into neurons,
red blood cells, pituitary hormones including IGF-I.
Forward Looking Statement
This press release may contain forward-looking statements related to
Targeted Medical Pharma’s business strategy, outlook, objectives, plans,
intentions or goals. The words "may," "will," "should," "plans,"
"explores," "expects," "anticipates," "continue," "estimate," "project,"
"intend," and similar expressions, identify forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of
1995, but their absence does not mean that the statement is not
forward-looking. These statements are not guarantees of future
performance and are subject to certain risks, uncertainties, and
assumptions that are difficult to predict. Actual results could differ
materially. Targeted Medical Pharma expressly disclaim any obligation or
undertaking to update or revise any forward-looking statement contained
herein to reflect any change in the company's expectations with regard
thereto or any change in events, conditions or circumstances upon which
any statement is based.
Copyright Business Wire 2013