Oncotelic Therapeutics Inc Stock Price, News & Analysis

Oncotelic Therapeutics (OTCQB:OTLC) announced the beta launch of its proprietary SEC chatbot, powered by DAO technology and AI, allowing users to engage with the Company's SEC filings as of April 12, 2023. Access to the chatbot is exclusive to holders of the Pet2DAO token (PDAO). The initiative aims to enhance shareholder engagement and streamline access to corporate information. Oncotelic's leadership expressed enthusiasm for the chatbot's potential, indicating plans for further innovations in AI and DAO functionalities. This aligns with Oncotelic's focus on leveraging advanced technologies to improve corporate governance and operations, particularly in the animal health sector. Interested users can access the chatbot through their website and are encouraged to provide feedback to enhance its capabilities.

Oncotelic Therapeutics (OTCQB:OTLC) has announced a strategic partnership with Vectara to leverage natural language understanding (NLU) technologies to enhance drug discovery and development in cancer, infectious disease, and aging.

The collaboration aims to streamline the research process by creating validated data corpora, making it easier for scientists to extract valuable insights from extensive research literature. This initiative seeks to accelerate the pace of pharmaceutical advancements and improve therapeutic outcomes.

Vectara's LLM-powered search and its innovative 'Grounded Generation' technology will be utilized to provide precise, relevant information, thus revolutionizing the application of AI in pharma research. Both companies anticipate significant advancements through this partnership.

Oncotelic Therapeutics, Inc. (OTCQB: OTLC) reported a net income of approximately $4.7 million for the fiscal year 2022, a significant improvement from a loss of $10.5 million in 2021. Factors contributing to this reduction include a decrease in operating expenses, with R&D costs declining by $2.9 million to $0.76 million and G&A expenses down by $0.6 million to $4.9 million. The company also recorded a $4.1 million goodwill impairment and $3 million in interest expenses. Cash at year-end stood at $0.26 million, reflecting challenges with liquidity and an accumulated deficit of $25.9 million. Despite these challenges, Oncotelic aims to expand its drug development initiatives, including initiating new clinical trials in oncology.

Oncotelic Therapeutics, Inc. (OTCQB:OTLC) announced the release of Pet2DAO LLC tokens (PDAO) for its shareholders. Eligible shareholders can claim PDAO tokens at a rate of one token for every 2,000 shares owned by April 1, 2023, with a deadline to claim by July 31, 2023. The token distribution aims to enhance shareholder engagement in decision-making processes. Following verification, tokens will be issued within 10 business days. The tokens are primarily for proposal-making and voting within the subsidiary, Pet2DAO, and do not hold monetary value. Future plans may involve registering the tokens as securities with the SEC.