Statement of Renovaro Inc

LOS ANGELES, Feb. 14, 2024 (GLOBE NEWSWIRE) -- The following is a statement by Renovaro (Nasdaq: RENB) in response to Hindenburg's recent opinion piece:

We felt compelled to comment on the shorter Hindenburg’s opinion piece.

The one thing Hindenburg got right is that the Board of the Company has remained steadfast in their confidence and support in the lifesaving potential of Renovaro. In fact, four exceptional leaders in the field of technology and business have recently joined the Board.

The rest of the diatribe is largely rehashed material they have been using in a transparent attempt to make money as an active shorter of the Company’s stock – a fact that is buried at the very end of the opinion piece: “You should assume that as of the publication date of any short-biased report or letter, Hindenburg Research (possibly along with or through our members, partners, affiliates, employees, and/or consultants) along with our clients and/or investors has a short position in all stocks (and/or options of the stock) covered herein, and therefore stands to realize significant gains in the event that the price of any stock covered herein declines.”

In addition to Hindenburg’s shorter attack, we became aware yesterday that our Company was listed without our knowledge on the Berlin stock exchange. We are taking immediate legal action to file a complaint with the proper authorities.

The commentary itself is riddled with falsehoods and misleading statements. Indeed, there is a heavy caveat – again, buried at the end - that what is stated is mere opinion without claims of accuracy: “information is presented “as is,” without warranty of any kind – whether express or implied. Hindenburg Research makes no representation, express or implied, as to the accuracy, timeliness, or completeness of any such information…. All expressions of opinion are subject to change without notice, and Hindenburg Research does not undertake to update or supplement this report.”

In an apparent desire to make profit at the expense of other Renovaro shareholders and, potentially, the lives of patients, there is a new false claim about the innovative and advanced AI capabilities of GEDiCube, now RenovaroCube.

“I have been in the technology business for nearly four decades, including leading multiple acquisitions,” said Avram Miller, Co-Founder of Intel Capital and Intel’s former Corporate Vice President for Business Development, “After spending many hours and days learning in depth about the power of the deep machine learning of RenovaroCube, I am convinced it is among the most advanced and creative technologies, and is led by a very talented team. While it is initially being applied to the accelerated development of next generation health care products, I believe the depth of the insights could very well expand to become the backbone for a number of large commercial markets. In addition, today’s announcement of a binding LOI with Cyclomics (link) positions the combination of cutting-edge technologies to be at the forefront of liquid biopsies (blood tests) for cancer and other diseases. I believe we are building a first-class company based in strong technology and science with an impressive commercially-based organization. I am very excited to be part of this journey.”