APRICUS BIOSCIENCES BUILDING STRONG PIPELINE AND SOLID FINANCIALS, CEO, DR. BASSAM DAMAJ, TELLS CEO/CFO MAGAZINE
SAN DIEGO, April 19, 2011 (GLOBE NEWSWIRE) -- Apricus Biosciences, Inc. ("Apricus Bio") (Nasdaq:APRI) (http://www.apricusbio.com/index.html) is building a strong product pipeline backed by a sound financial position, Chairman, President and Chief Executive Officer, Dr. Bassam Damaj, told CEO/CFO Magazine in a recent interview. The complete interview is available here: http://ceocfointerviews.com/interviews/APRI-Apricus11.htm.
"In my opinion, this Company is undervalued," Damaj told CEO/CFO. "Our current cash reserves should take us to the second half of 2012. We also expect to be cash flow positive by the end of 2011." Further, he points out, the Company's first drug, Vitaros® for erectile dysfunction, is very close to market, with a 12 product-candidate pipeline behind it.
Vitaros® , like all of Apricus Bio's product and product candidates, is built on a delivery platform called NexACT® , a permeation enhancer. "It loosens the tight junctions between cells, facilitating drug absorption," said Damaj. This allows Apricus Bio to change the delivery method of a drug from, for example, oral to dermal, or from intravenous to oral. In the case of Vitaros® , a change in delivery to a topical allows the drug to take effect faster. Furthermore, it can safely be used by patients with cardiac problems, hypertension, or who have had a prostatectomy.
"We expect Vitaros® will be partnered in Canada in the second quarter of 2011, and that it may be on the market in that country during the second half of 2011," noted Damaj, in the interview. "Strategically, the Company will be pursuing partnerships for its drug products," says Damaj. "Our goal is to partner with large pharmaceutical firms, allowing our partners commercialize and market the product for us, providing Apricus Bio with milestone payments and, eventually, royalties."
On the subject of Apricus Bio and other near-market opportunities, Damaj discussed Femprox® and PrevOnco™. "The first is a treatment for female sexual arousal disorder – a virtually untapped market," he stated. "The second is a treatment for hepatocellular liver carcinoma, a disease with only limited treatment options at present."
"The drugs in our pipeline have the potential to become blockbusters," stated Damaj. "The erectile dysfunction market is about $2.6 billion outside the U.S, and the market for female sexual arousal disorder is estimated to be in the billions. We have a very strong pipeline."
About Apricus Biosciences, Inc.
Apricus Bio, a San Diego based revenue-generating pharmaceutical company, has leveraged the flexibility of its clinically-validated NexACT® drug delivery technology to enable multi-route administration of new and improved compounds across numerous therapeutic classes.
Revenues and growth are driven from out-licensing of this technology for the development and commercialization of such compounds to pharmaceutical and biotechnology companies worldwide. In addition, the Company is seeking to monetize its existing product pipeline, including its first product, Vitaros® , approved in Canada for the treatment of erectile dysfunction, which is currently expected to be available on the Canadian market in 2011, as well as compounds in development from pre-clinical through Phase III currently focused on Sexual Dysfunction, Oncology, Dermatology, Autoimmune, Pain, Anti-Infectives, Diabetes and Cosmeceuticals among others.
For further information on Apricus Bio, visit http://www.apricusbio.com, and for information on its subsidiaries please visit http://www.nexmedusa.com or http://www.bio-quant.com. You can also receive information at http://twitter.com/apricusbio and http://facebook.com/apricusbio.
Apricus Bio's Forward-Looking Statement Safe Harbor
Statements under the Private Securities Litigation Reform Act, as amended: with the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risks and uncertainties that may individually or mutually impact the matters herein described for a variety of reasons that are outside the control of the Company, including, but not limited to, its ability to further develop products and product candidates such as Vitaros® , Femprox® and PrevOnco™ among others, to successfully commercialize such products and product candidates and to achieve its other development, commercialization and financial goals. Readers are cautioned not to place undue reliance on these forward-looking statements as actual results could differ materially from the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company's most recent annual report on Form 10-K, subsequent quarterly reports filed on Form 10-Q and other filings made with the SEC. Copies of these reports are available from the SEC's website or without charge from the Company.
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