Acerus Pharmaceuticals Corporation (TSX:ASP) is pleased to announce the
full repayment of all amounts due under its senior secured term credit
facility provided by an affiliate of MidCap Financial, LLC as well as
the corresponding release of all collateral pledged as security.
“We are delighted to have completed the repayment of our financial
obligations under our agreement with MidCap. This transaction allows us
to significantly reduce our outstanding debt and will result in an
increase in free cash flow going forward” stated Tom Rossi, President
and Chief Executive Officer of Acerus.
Acerus Pharmaceuticals Corporation is a Canadian pharmaceutical company
focused on the development, manufacture, marketing and distribution of
innovative, branded products that improve the patient experience.
Acerus currently markets two products in Canada: ESTRACE®, a
product indicated for the symptomatic relief of menopausal symptoms; and
NATESTO™, the first and only testosterone nasal gel for testosterone
replacement therapy in adult males diagnosed with hypogonadism. Acerus’
pipeline includes two new innovative products: GYNOFLOR™, an ultra-low
dose vaginal estrogen combined with a probiotic, used in the treatment
of atrophic vaginitis, restoration of vaginal flora and treatment of
certain vaginal infections; and TEFINA™, a ‘use as required’ drug
development candidate, aimed at addressing a significant unmet need for
women with female sexual dysfunction.
For more information, visit www.aceruspharma.com
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Notice Regarding Forward-Looking Statements
Information in this press release that is not current or historical
factual information may constitute forward looking information within
the meaning of securities laws. Implicit in this information are
assumptions regarding our future operational results. These assumptions,
although considered reasonable by the company at the time of
preparation, may prove to be incorrect. Readers are cautioned that
actual performance of the company is subject to a number of risks and
uncertainties, and could differ materially from what is currently
expected as set out above. For more exhaustive information on these
risks and uncertainties you should refer to our annual information form
dated March 1, 2016 which is available at www.sedar.com.
Forward-looking information contained in this press release is based on
our current estimates, expectations and projections, which we believe
are reasonable as of the current date. You should not place undue
importance on forward-looking information and should not rely upon this
information as of any other date. While we may elect to, we are under no
obligation and do not undertake to update this information at any
particular time, whether as a result of new information, future events
or otherwise, except as required by applicable securities law.
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Source: Acerus Pharmaceuticals Corporation