Concerned about your investment in Oncolix, Inc.?
Are you concerned about your investment losses in Oncolix, Inc.? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Dispute Resolution claim against the brokerage firm that sold you the investment.
Oncolix, Inc., a clinical-stage biopharmaceutical company located in Houston, TX, reportedly engages in the development of medical therapies for the treatment of various cancers including ovarian, breast, uterine, and prostate. The company reportedly filed a Reg D to raise capital from investors in 2017 for the offering Advanced Environmental Petroleum Producers Inc. The total offering amount sold to investors was purportedly $4,190,464.
On August 31, 2020, the U.S. Securities and Exchange Commission announced the temporary suspension of trading in the securities of Oncolix, Inc. reportedly due to a lack of current and accurate information about the company because it has not filed certain periodic reports with the Commission.
This comes after the Company received a final notice of default under its license agreement for CycloSam, its product candidate, on July 2, 2019, according to filings with the SEC. The default references milestones required under the license agreement.
Oncolix has been unable to finance its continuing operations and can no longer meet its continuing obligations, according to an 8-K filed last year. Substantially all of its remaining assets are pledged to the holders of its convertible notes.
Filing a Complaint against your Brokerage Firm
The White Law Group is investigating the liability that FINRA registered brokerage firms may have for improperly recommending high-risk investments to investors.
The problem with pharmaceutical investments such as Oncolix, Inc. is that they typically involve a high degree of risk. The research and development process for pharma companies often involves costly and lengthy testing trials that yield specific data. If the expected data or end points are not met, that could be bad news for investors.
Broker dealers are required to perform adequate due diligence on any investment they recommend and to ensure that all recommendations are suitable for the investor. Firms that fail to do so, may be held responsible for any losses in a FINRA arbitration claim.
If you have concerns regarding investment losses in Oncolix, Inc., please call the securities attorneys at The White Law Group for a free consultation at 888-637-5510.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Seattle, Washington.
For more information on The White Law Group and its representation of investors in FINRA arbitration claims, visit https://www.whitesecuritieslaw.com.
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