Clarification on the news article by United Daily News E-Paper

Clarification on the news article by Economic Daily News
January 10, 2017
Clarification on the news article by Commercial Times
January 21, 2017
  1. Date of occurrence of the event: January 11, 2017
  2. Company name: OBI Pharma, Inc.
  3. Relationship to the Company (please enter ”head office” or ”affiliated company”): N/A
  4. Reciprocal shareholding ratios: N/A
  5. Name of mass media: United Daily News E-Paper
  6. Content reported: United Daily News Paper reported that “Chen Jian-Ren stated that ‘the 831 news release from two year ago indicates OBI’s intend to end the project’, Chen Jian-Ren said “[…] based on experts’ opinion, OBI is preparing to terminate the clinical trial.”
  7. Cause of occurrence: Clarification on the news article by United Daily News E-Paper
  8. Countermeasures:(1)The above information is inaccurate and against the facts. Such information was not confirmed by OBI.(2)Relevant legal process will be handled based on the circumstances after receiving the indictment.
  9. Any other matters that need to be specified: The results of a single clinical trial do not sufficiently reflect the outcome of a new drug entering into the market. Investors should make carful judgment and prudent investment. New drug development is a long journey associated with high cost. It is not a guaranteed success, which may increase the risk of investment. Investors shall make prudent judgments and investments.