17,780 Shares Purchased on the Open Market and $1,000,000 Loan Converted to Stock
Los Angeles, CA, December 18, 2013 — 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.
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