Apricus Biosciences CEO is Interviewed on CDTV.Net
Apricus Biosciences, Inc.
06.03.2012 16:01
---------------------------------------------------------------------------
Apricus Metamorphoses From a Clinical Stage Development Company to a Commercial
Stage Specialty Pharmaceuticals Company
SAN DIEGO, 2012-03-06 16:01 CET (GLOBE NEWSWIRE) --
Apricus Biosciences, Inc. (Nasdaq:APRI) (www.apricusbio.com) Chief Executive
Officer Dr. Bassam Damaj said in an interview on CDTV.net that his company has
acquired its own sales force, has nearly $25 million in cash, and is moving in
2012 into a potentially high-growth phase.
Dr. Damaj covered the importance of the recent partnership with Abbott for
Vitaros in Canada because not only does it put Apricus' lead product Vitaros in
the hands of a Global Pharma, but also raises the profile of the company
significantly for future partnerships. Additionally, the financial terms of the
deal were significant because the upfront revenue and expected royalties the
company is recording this year moves the company to be a diversified
pharmaceutical company.
Dr. Damaj also spoke about the importance of the partnership with Sandoz, a
division of Novartis (NVS) in Germany for Vitaros, stating that regaining
Novartis as a partner adds a great deal of credibility to the core technology
as well as being the best partner possible for the German market itself.
Covering the recent acquisition of Topotarget and pending acquisition of
PediatRx, Dr. Damaj spoke to the company's direct and clear focus on becoming a
commercially based company with a mix of products that include products that
would need large sales forces to effectively sell them and others products that
we feel that the company could commercialize directly. Topotarget and PediatRx
infrastructure and marketed drugs reflect that strategy and growth. Apricus
sees its oncology supportive care sales force and focus as a first step into
the growth of additional therapeutic areas.
Mr. Hana also asked Dr. Damaj what was the key goal behind the recent $20M
offering. The company's goals, he responded, were three-fold. The first was to
continue to advance the products towards commercialization by filing for
approval in several key territories this year. The second was to provide
capital for the re-launch of many of the recently acquired products and again
drive more revenue and value to the company. From a use-of-proceeds standpoint
raising money to raise the value of assets and revenue makes sense, he said.
The final reason was to expand the shareholder base to include institutions and
broaden our analyst coverage. The company felt it would never be able to make
the transition to the next level with no institutional ownership and limited
analyst coverage.
Finally, Mr. Hana asked about the outlook for 2012 and the future for the
company. In summary, Dr. Damaj reiterated that the company feels '2012 will be
its most important to this point. Going from a development company with
something always on the horizon to a commercial company with almost 5 products
on the market and selling by the end of the year is a monumental and permanent
shift. Each year after that will just advance the company further into direct
value as more and more of the partnered and self-sold products go onto the
market.'
Dr. Damaj also noted that Apricus Bio will ring the closing bell at Nasdaq on
Friday, March 9.
About Apricus Biosciences, Inc.
Apricus Bio is a San Diego-based revenue-generating specialty pharmaceutical
company, with commercial products and a broad pipeline across numerous
therapeutic classes.
Revenues and growth are driven from the sales of the Company's commercial
products through its Apricus Pharmaceuticals USA, Inc. and NexMed (USA), Inc.
subsidiaries and throughout-licensing in certain territories of its product
pipeline and NexACT(r) technology. Apricus Bio currently markets Totect(r)
(dexrazoxane HCl), the only drug approved in the US for the treatment of
anthracycline extravasation. Apricus Bio's current pipeline includes Vitaros(r),
approved in Canada for the treatment of erectile dysfunction, as well as
compounds in development from pre-clinical through pre-registration currently
focused on Sexual Dysfunction, Oncology, Dermatology, Autoimmune, Pain,
Anti-Infectives, Diabetes and Consumer Healthcare.
The Company also expects to develop and/or acquire and then bring to market
additional pharmaceutical products in areas of care that will benefit patient
needs worldwide.
For further information on Apricus Bio, visit http://www.apricusbio.com, and
for information on its subsidiary please visit http://www.nexmedusa.com. You
can also receive information at http://twitter.com/apricusbio.
Apricus Bio's Forward-Looking Statement Safe Harbor
Statements under the Private Securities Litigation Reform Act, as amended: with
the exception of the historical information contained in this release, the
matters described herein contain forward-looking statements that involve risks
and uncertainties that may individually or mutually impact the matters herein
described for a variety of reasons that are outside the control of the Company,
including, but not limited to, its ability to further develop its and their
products and product candidates, to have its products such as Vitaros(r),
Femprox(r) and MycoVa(tm) and product candidates approved by relevant regulatory
authorities, to successfully commercialize such NexACT(r) products and product
candidates, to achieve its development, commercialization and financial goals
such as the booking of $4 million for Vitaros(r) partnerships to date and the
further commercialization of Totect(r), Granisol(tm) and Aquoral(tm) and to achieve its
other regulatory, commercial and financial goals in the U.S. and in other
countries. Readers are cautioned not to place undue reliance on these
forward-looking statements as actual results could differ materially from the
forward-looking statements contained herein. Readers are urged to read the risk
factors set forth in the Company's most recent annual report on Form 10-K,
subsequent quarterly reports filed on Form 10-Q and other filings made with the
SEC. Copies of these reports are available from the SEC's website or without
charge from the Company.
CONTACT: Apricus Bio Investor Relations:
David Pitts
Argot Partners
212-600-1902
david@argotpartners.com
News Source: NASDAQ OMX
06.03.2012 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: Apricus Biosciences, Inc.
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US9901429525
WKN:
End of Announcement DGAP News-Service
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Apricus Biosciences, Inc.
06.03.2012 16:01
---------------------------------------------------------------------------
Apricus Metamorphoses From a Clinical Stage Development Company to a Commercial
Stage Specialty Pharmaceuticals Company
SAN DIEGO, 2012-03-06 16:01 CET (GLOBE NEWSWIRE) --
Apricus Biosciences, Inc. (Nasdaq:APRI) (www.apricusbio.com) Chief Executive
Officer Dr. Bassam Damaj said in an interview on CDTV.net that his company has
acquired its own sales force, has nearly $25 million in cash, and is moving in
2012 into a potentially high-growth phase.
Dr. Damaj covered the importance of the recent partnership with Abbott for
Vitaros in Canada because not only does it put Apricus' lead product Vitaros in
the hands of a Global Pharma, but also raises the profile of the company
significantly for future partnerships. Additionally, the financial terms of the
deal were significant because the upfront revenue and expected royalties the
company is recording this year moves the company to be a diversified
pharmaceutical company.
Dr. Damaj also spoke about the importance of the partnership with Sandoz, a
division of Novartis (NVS) in Germany for Vitaros, stating that regaining
Novartis as a partner adds a great deal of credibility to the core technology
as well as being the best partner possible for the German market itself.
Covering the recent acquisition of Topotarget and pending acquisition of
PediatRx, Dr. Damaj spoke to the company's direct and clear focus on becoming a
commercially based company with a mix of products that include products that
would need large sales forces to effectively sell them and others products that
we feel that the company could commercialize directly. Topotarget and PediatRx
infrastructure and marketed drugs reflect that strategy and growth. Apricus
sees its oncology supportive care sales force and focus as a first step into
the growth of additional therapeutic areas.
Mr. Hana also asked Dr. Damaj what was the key goal behind the recent $20M
offering. The company's goals, he responded, were three-fold. The first was to
continue to advance the products towards commercialization by filing for
approval in several key territories this year. The second was to provide
capital for the re-launch of many of the recently acquired products and again
drive more revenue and value to the company. From a use-of-proceeds standpoint
raising money to raise the value of assets and revenue makes sense, he said.
The final reason was to expand the shareholder base to include institutions and
broaden our analyst coverage. The company felt it would never be able to make
the transition to the next level with no institutional ownership and limited
analyst coverage.
Finally, Mr. Hana asked about the outlook for 2012 and the future for the
company. In summary, Dr. Damaj reiterated that the company feels '2012 will be
its most important to this point. Going from a development company with
something always on the horizon to a commercial company with almost 5 products
on the market and selling by the end of the year is a monumental and permanent
shift. Each year after that will just advance the company further into direct
value as more and more of the partnered and self-sold products go onto the
market.'
Dr. Damaj also noted that Apricus Bio will ring the closing bell at Nasdaq on
Friday, March 9.
About Apricus Biosciences, Inc.
Apricus Bio is a San Diego-based revenue-generating specialty pharmaceutical
company, with commercial products and a broad pipeline across numerous
therapeutic classes.
Revenues and growth are driven from the sales of the Company's commercial
products through its Apricus Pharmaceuticals USA, Inc. and NexMed (USA), Inc.
subsidiaries and throughout-licensing in certain territories of its product
pipeline and NexACT(r) technology. Apricus Bio currently markets Totect(r)
(dexrazoxane HCl), the only drug approved in the US for the treatment of
anthracycline extravasation. Apricus Bio's current pipeline includes Vitaros(r),
approved in Canada for the treatment of erectile dysfunction, as well as
compounds in development from pre-clinical through pre-registration currently
focused on Sexual Dysfunction, Oncology, Dermatology, Autoimmune, Pain,
Anti-Infectives, Diabetes and Consumer Healthcare.
The Company also expects to develop and/or acquire and then bring to market
additional pharmaceutical products in areas of care that will benefit patient
needs worldwide.
For further information on Apricus Bio, visit http://www.apricusbio.com, and
for information on its subsidiary please visit http://www.nexmedusa.com. You
can also receive information at http://twitter.com/apricusbio.
Apricus Bio's Forward-Looking Statement Safe Harbor
Statements under the Private Securities Litigation Reform Act, as amended: with
the exception of the historical information contained in this release, the
matters described herein contain forward-looking statements that involve risks
and uncertainties that may individually or mutually impact the matters herein
described for a variety of reasons that are outside the control of the Company,
including, but not limited to, its ability to further develop its and their
products and product candidates, to have its products such as Vitaros(r),
Femprox(r) and MycoVa(tm) and product candidates approved by relevant regulatory
authorities, to successfully commercialize such NexACT(r) products and product
candidates, to achieve its development, commercialization and financial goals
such as the booking of $4 million for Vitaros(r) partnerships to date and the
further commercialization of Totect(r), Granisol(tm) and Aquoral(tm) and to achieve its
other regulatory, commercial and financial goals in the U.S. and in other
countries. Readers are cautioned not to place undue reliance on these
forward-looking statements as actual results could differ materially from the
forward-looking statements contained herein. Readers are urged to read the risk
factors set forth in the Company's most recent annual report on Form 10-K,
subsequent quarterly reports filed on Form 10-Q and other filings made with the
SEC. Copies of these reports are available from the SEC's website or without
charge from the Company.
CONTACT: Apricus Bio Investor Relations:
David Pitts
Argot Partners
212-600-1902
david@argotpartners.com
News Source: NASDAQ OMX
06.03.2012 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: Apricus Biosciences, Inc.
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US9901429525
WKN:
End of Announcement DGAP News-Service
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