Acerus Reports Third Quarter 2018 Financial Results

Acerus Pharmaceuticals (TSX:ASP) reported its financial results for the three and nine months ended September 30, 2018. Unless otherwise noted, all amounts are in U.S. dollars.

As quoted in the press release:

“The third quarter was highlighted by further progress against our core strategic priorities, including continued year over year growth in NATESTO^® sales as total prescriptions increased in both Canada and the U.S.,” said Ed Gudaitis, President and CEO of Acerus Pharmaceuticals. “We also continue to make progress against key clinical milestones as data from a Phase IV study looking at NATESTO^®’s impact on reproductive hormones and semen parameters was published, and we recently initiated a Phase I trial to assess the potential of our proprietary nasal delivery technology with cannabinoids.”

“Improving our financial flexibility has remained a strategic priority and subsequent to quarter-end we announced that we had entered into a secured term loan credit facility with SWK Funding LLC,” said Bob Motz, Chief Financial Officer of Acerus Pharmaceuticals. “The new arrangement with a sophisticated partner provides us improved access to capital, with longer term and at a lower rate than our previous lender. This has allowed us to extinguish some near-term obligations, freeing us up to focus on operating and growing the business over the longer term.”

Click here to read the full press release.