Enzolytics Inc. (OTC:ENZC) Stock On Watchlist After Latest Update

It is likely that the Enzolytics Inc. (OTC:ENZC) stock is going to continue to be on the radar of investors today after the company made an announcement about its on-going spat with Nika Pharmaceuticals Inc.

What Happened?

The company noted that on July 26, 2024, Enzolytics had responded to the press release from Nika Pharmaceuticals, which allegedly contained misleading and false information.

However, on Monday the company announced that despite the response, Nika and Dimitar Savov, its CEO, continued to claim the right to products belonging to the Zanzibar Trust. In the latest news release, Enzolytics stated that along with Nika, IMMB BG emerged as a new party to the issue and made claims to products ultimately licensed to the company.

The Timeline

Enzolytics also revealed that the allegedly misleading statements first surfaced on August 1, 2022. At the time, Nika, its CEO and also the CEO of IMMB, inked a joint business agreement. As per the agreement, the entities were going to produce, distribute, and register products based on the IPF (Inactivated Pepsin Fraction) platform.

However, Enzolytics stated that Savov had effectively inked a contract with himself to produce a product to which he had no agency or right to produce. It remains to be seen if the latest press release from Enzolytics leads to any traction for the stock today or not.

Traders Notes

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