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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