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Acer Therapeutics Inc. (ACER) SEC Filing 10-K Annual report for the fiscal year ending Sunday, December 31, 2017

Acer Therapeutics Inc.

CIK: 1069308 Ticker: ACER

Exhibit 99.1

 

 

Acer Therapeutics Reports Fourth Quarter and Full-Year 2017 Financial Results and Provides Corporate Update

 

Acer continues progression from development to potential commercialization of EDSIVO™

 

NEWTON, MA March 7, 2018 – Acer Therapeutics Inc. (Nasdaq: ACER), a pharmaceutical company focused on the acquisition, development and commercialization of therapies for serious rare and ultra-rare diseases with critical unmet medical need, today reported financial results for the quarter and full-year ended December 31, 2017 and provided an update on the Company’s recent corporate developments.

 

“We accomplished a lot in 2017 that sets the stage nicely for us to deliver on multiple significant milestones anticipated in 2018. We believe that by going public, hiring several key executives and raising enough capital to fund our current operating requirements through the end of this year, we are now in a position to finalize the critical activities over the next few months required to submit a New Drug Application (NDA) for EDSIVO™ in vascular Ehlers-Danlos syndrome (vEDS),” said Chris Schelling, CEO and Founder of Acer. “We are also working very closely with the vEDS community to better understand their needs and to learn how we can best partner with them going forward. Collectively, we are exploring how Acer can begin supporting initiatives that help strengthen patient advocacy and establish centers of excellence, accelerate diagnosis and optimize patient care, and sponsor additional research collaborations with leading experts in vEDS.” Mr. Schelling continued, “Beyond vEDS, we look to advance and expand our pipeline with the goal of bringing multiple products to patients with serious ultra-orphan diseases over the next several years.”

 

2017 and Recent Highlights

 

Announced positive results from the pivotal clinical trial of EDSIVO™ (celiprolol) for the treatment of vEDS. Our retrospective source-verified analysis of the trial data, including the primary and secondary endpoints, confirmed the data from a previously published randomized controlled clinical study of celiprolol(1). We plan to discuss these key data during a pre-NDA meeting with the FDA in the second quarter of 2018.

 

Closed merger with Opexa Therapeutics, Inc. and common stock commenced trading on the Nasdaq Capital Market in the third quarter of 2017

 

Raised $28.3 million in 2017 through an underwritten public offering and the private placement of securities

 

Expanded management team and independent board directors

 

Ended 2017 with $15.6 million in cash and cash equivalents and no debt, which we believe is sufficient to fund our current operating and capital requirements through the end of 2018

 

1

 


The following information was filed by Acer Therapeutics Inc. (ACER) on Wednesday, March 7, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Redeemable Preferred Stock And Stockholders' Equity (deficit)
Consolidated Statements Of Changes In Redeemable Preferred Stock And Stockholders' Equity (deficit) (parenthetical)
Consolidated Statements Of Operations
Accrued Expenses
Accrued Expenses (tables)
Accrued Expenses - Schedule Of Accrued Expenses (details)
Commitments
Commitments - Additional Information (details)
Convertible Notes Payable
Convertible Notes Payable - Additional Information (details)
Income Taxes
Income Taxes (tables)
Income Taxes - Additional Information (details)
Income Taxes - Schedule Of Components Of Deferred Tax Assets And Liabilities (details)
Income Taxes - Schedule Of Reconciliation Of Effective Income Tax Rate (details)
Nature Of Operations And Basis Of Presentation
Nature Of Operations And Basis Of Presentation - Additional Information (details)
Net Loss Per Share
Net Loss Per Share (tables)
Net Loss Per Share - Common Stock Underlying Potentially Dilutive Securities (details)
Property And Equipment
Property And Equipment (tables)
Property And Equipment - Additional Information (details)
Property And Equipment - Schedule Of Property And Equipment (details)
Purchase Accounting
Purchase Accounting (tables)
Purchase Accounting - Additional Information (details)
Purchase Accounting - Fair Values Of Assets Acquired And Liabilities Assumed (details)
Purchase Accounting - Unaudited Pro Forma Operating Results (details)
Significant Accounting Polices
Significant Accounting Polices (policies)
Significant Accounting Polices (tables)
Significant Accounting Polices - Additional Information (details)
Significant Accounting Polices - Schedule Of Estimate Fair Value Of Stock Options Granted (details)
Stockholders' Equity
Stockholders' Equity (tables)
Stockholders' Equity - Additional Information (details)
Stockholders' Equity - Summary Of Option Activity Under 2010 Plan And 2013 Plan (details)
Stockholders' Equity - Summary Of Warrant Activity (details)
Ticker: ACER
CIK: 1069308
Form Type: 10-K Annual Report
Accession Number: 0001564590-18-004714
Submitted to the SEC: Wed Mar 07 2018 4:06:46 PM EST
Accepted by the SEC: Wed Mar 07 2018
Period: Sunday, December 31, 2017
Industry: Pharmaceutical Preparations

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