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UPDATED:  Parnell to Report Financial Results for Fiscal Year 2016 on March 21, 2017

OVERLAND PARK, Kan., Feb. 27, 2017 (GLOBE NEWSWIRE) -- Parnell Pharmaceuticals Holdings Ltd. (OTC:PARNF), a fully integrated pharmaceutical company focused on developing, manufacturing and commercializing innovative animal health solutions, announced today that it will report financial results for the full year ended December 31, 2016 on March 21, 2017 at 4:00 pm ET.

Management will host a conference call on March 21, 2017 at 5:00 pm ET to discuss financial results and answer questions. Investors and analysts can access the conference call by dialing (877) 244-6184 FREE (U.S./Canada) or (920) 663-6271 (International) and using conference ID# 78918738.

A telephone replay will be available for one week following the call by dialing (855) 859-2056 FREE (U.S./domestic) and (404) 537-3406 using the conference ID# 78918738.

Announcement of annual results for 2016 have been slightly delayed beyond previous year’s reporting dates to finalize the transition to the OTC Market, in conjunction with the delisting from the NASDAQ.

President and CEO, Robert Joseph commented, “As previously announced, with our move to the OTC Markets, we look forward to continuing to keep our investors well informed of our business performance and making press releases for major announcements. We are pleased with the progress we have made in making substantial cost savings as a direct result of moving from the NASDAQ to the OTC Markets. We are also pleased to see that there appears to be a liquid market for our securities with daily trading volumes continuing to be strong. Investors can track the share price and volumes at http://www.otcmarkets.com/stock/PARNF/quote using the new ticker symbol PARNF.”

The Company intends to file its 2016 fiscal year-end financial results on Form 20-F with the Securities and Exchange Commission as well as an accompanying press release on Form 6-K. Both filings will also be posted on Parnell's website prior to the call.

About Parnell

Parnell (OTC:PARNF) is a fully integrated pharmaceutical company focused on developing, manufacturing and commercializing innovative animal health solutions. Parnell currently markets five products for companion animals and production animals in 14 countries and augments its pharmaceutical products with proprietary software platforms - FETCH™ and mySYNCH®. These innovative technology solutions are designed to enhance the quality of life and/or performance of animals, while driving customers' operational efficiency and profitability. Parnell distinguishes itself in the industry by providing value-added solutions that position the Company as a true partner to its customers.

For more information on the company and its products, please visit www.parnell.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements and information within the meaning of the U.S. Private Securities Reform Act of 1995. Words such as "may," "anticipate," "estimate," "expects," "projects," "intends," "plans," "develops," "believes," and words and terms of similar substance used in connection with any discussion of future operating or financial performance identify forward-looking statements. Forward-looking statements represent management's present judgment regarding future events and are subject to a number of risk and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks include, but are not limited to, risks and uncertainties regarding Parnell's research and development activities, its ability to conduct clinical trials of product candidates and the results of such trials, as well as risks and uncertainties relating to litigation, government regulation, economic conditions, markets, products, competition, intellectual property, services and prices, key employees, future capital needs, dependence on third parties, and other factors, including those described in Parnell's Annual Report on Form 20-F filed with the Securities and Exchange Commission, or SEC, on March 4, 2016, along with its other reports filed with the SEC. In light of these assumptions, risks, and uncertainties, the results and events discussed in any forward-looking statements contained in this press release might not occur. Investors are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this press release. Parnell is under no obligation, and expressly disclaims any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events, or otherwise.

CONTACT: For more information, contact: Parnell Pharmaceuticals Holdings Robert Joseph, 913-274-2100 robert.joseph@parnell.com Brad McCarthy, 913-274-2100 brad.mccarthy@parnell.com

Source:Parnell Pharmaceuticals Holdings Ltd