Cynapsus Therapeutics Reports Third Quarter 2014 Financial Results and Recent Developments
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 11/11/14 -- Cynapsus Therapeutics Inc. (TSX VENTURE: CTH)(OTCQX: CYNAF), a specialty pharmaceutical company developing a convenient and easy to use sublingual thin film strip for the on-demand rescue of OFF motor symptoms of Parkinson''s disease, today announced financial results for the three and nine months ended September 30, 2014. Unless specified otherwise, all amounts are in Canadian dollars.
"Throughout the first nine months of 2014 we have made significant progress advancing our strategic plan in key areas, including the clinical development of APL-130277 and strengthening our corporate leadership. Importantly, we also raised gross proceeds of $25 million through an equity financing, which we expect will fund APL-130277 development through to NDA submission with the U.S. FDA," stated Anthony Giovinazzo, President and Chief Executive Officer of Cynapsus. "We look forward to reporting further progress by year end, including results from the CTH-105 Phase 2 study with APL-130277 later this month, and remain focused on the preparatory work required for the commencement of Phase 3 studies in early 2015."
Financial highlights of the third quarter and first nine months of 2014 include:
Clinical and operational highlights of the third quarter and first nine months of 2014 include:
About Cynapsus Therapeutics
Cynapsus is a specialty pharmaceutical company developing a convenient and easy to use sublingual (oral) thin film strip for the acute rescue of OFF motor symptoms of Parkinson''s disease. Cynapsus'' drug candidate, APL-130277, is an easy-to-administer, fast-acting reformulation of apomorphine, which is the only approved drug (in the United States, Europe, Japan and other countries) to rescue patients from OFF episodes. Cynapsus is focused on maximizing the value of APL-130277 by completing pivotal studies in advance of a New Drug Application ("NDA") expected to be submitted in 2016.
More than 1 million people in the U.S. and an estimated 4 to 6 million people globally suffer from Parkinson''s disease. Parkinson''s disease is a chronic and progressive neurodegenerative disease that impacts motor activity, and its prevalence is increasing with the aging of the population. Based on a recent study and the results of the Corporation''s Global 500 Neurologists Survey, it is estimated that between 25 percent and 50 percent of patients experience OFF episodes in which they have impaired movement or speaking capabilities. Current medications only control the disease''s symptoms, and most drugs become less effective over time as the disease progresses.
More information about Cynapsus (TSX VENTURE: CTH)(OTCQX: CYNAF) is available at and at the System for Electronic Document Analysis and Retrieval (SEDAR) at .
Forward Looking Statements
This announcement contains "forward-looking statements" within the meaning of applicable securities laws. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Cynapsus to be materially different from those expressed or implied by such forward-looking statements, including but not limited to those risks and uncertainties relating to Cynapsus'' business disclosed under the heading "Risk Factors" in its March 26, 2014, Annual Information Form and its other filings with the various Canadian securities regulators which are available online at . Although Cynapsus has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Cynapsus does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.
Neither the TSX Venture Exchange nor the OTCQX International has approved or disapproved of the contents of this press release.
Contacts:
Cynapsus Therapeutics
Anthony Giovinazzo
President and CEO
(416) 703-2449 x225
Cynapsus Therapeutics
Andrew Williams
COO & CFO
(416) 703-2449 x253
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Datum: 11.11.2014 - 15:30 Uhr
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