SAN DIEGO, 2013-05-10 14:30 CEST (GLOBE NEWSWIRE) -- Apricus Biosciences, Inc. ('Apricus Bio' or the 'Company') (Nasdaq:APRI) (http://www.apricusbio.com), today provided an update regarding ongoing corporate activities and announced that it expects to file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2013 with the Securities and Exchange Commission on Friday, May 10, 2013. As previously announced, the Company will host its first quarter 2013 financial results conference call today, May 10, 2013 at 9:00 a.m. ET.
'Apricus Bio began 2013 with a newly focused corporate strategy aimed at the commercialization, through partnerships, of its lead product Vitaros(r) for erectile dysfunction ('ED') and the development of its lead product candidate Femprox(r) for female sexual arousal disorder ('FSAD'),' said Richard Pascoe, Chief Executive Officer of Apricus Bio. 'Since the beginning of the year, we have made important progress in support of that goal, including the successful divestiture of multiple non-core assets, streamlining of our operations to better align them with our objectives, and advancement of our regulatory and commercial strategy for Vitaros(r) and Femprox(r). We continue to believe that the greatest opportunity for shareholder value creation remains in the global development and commercialization, through strategic partnerships, of these lead assets.'
Recent Corporate Developments
-- European approval decision for Vitaros(r) in Europe via the Decentralized Procedure ('DCP'). We are currently awaiting a decision regarding the approval of Vitaros(r) in Europe via the DCP with The Netherlands serving as the Reference Member State ('RMS'). In April of 2013, Apricus Bio, in consultation with our European commercialization partners, submitted to the RMS our response to the Day 120 List of Questions ('LOQ'). This week, which marked Day 180 of the regulatory approval process, the RMS confirmed that the major nonclinical, clinical and clinical safety issues outlined in the Day 120 LOQ have been resolved. While the regulatory review process is ongoing, and we remain in active dialogue with the RMS on certain remaining matters included in the Day 180 response, we believe that the marketing approval process for Vitaros(r) in Europe remains on track for an approval decision on Day 210 of the process assuming there are no other interruptions in the review process. If Vitaros(r) is approved by the RMS, our commercialization partners will commence with the National Phase approvals in their respective territories. Once those approvals are secured on a country-by-country basis, marketing of Vitaros(r) can then be initiated in each country by our commercialization partners. In Europe, existing ED products generated over $1 billion in sales in 2012 and Apricus Bio believes that a significant portion of the market remains untreated or undertreated, which represents a significant commercial opportunity for Vitaros(r). -- Commercial Launch of Vitaros(r) in Canada. Vitaros(r) is approved in Canada, and Apricus Bio licensed Vitaros(r) to Abbott Canada for commercialization of the product in that territory. Abbott remains fully committed to a successful launch of the cold-chain version of Vitaros(r) in Canada in the shortest timeframe possible. Abbott is working with their contract manufacturer to optimize the product's shelf-life period, which is driven by specifications that are applicable only to the product that will be sold in Canada, prior to launching the product in that market. As a result of these ongoing developments, Abbott has confirmed that a Vitaros(r) launch in Canada in the first half of 2013 will not occur. -- Femprox(r) Development Program: Femprox(r) is our lead product candidate for the treatment of female sexual arousal disorder, or FSAD. To date, we have completed seven clinical studies with Femprox(r) including a 100 patient Phase 2 study in the U.S. and a 400 patient Phase 3 study in China. The data generated from these studies strongly suggests that Femprox(r) has the potential to effectively treat FSAD in a female patient population where there are currently no available FDA approved treatment options. Moreover, we believe that Femprox(r) could be the first and only on-demand treatment approved for FSAD, where estimates of the market size are on par with that found in the erectile dysfunction market. The Company continues to advance the Femprox(r) development program in close consultation with our clinical and regulatory advisors. Our near-term goal is to seek confirmatory regulatory guidance from the U.S. FDA in the form of an End-of-Phase 2 meeting. -- Divestiture of Non-Core Assets: The Company sold its product, Totect(r) (dexrazoxane HCl), a marketed, injectable treatment for anthracycline extravasation, to Biocodex USA ('Biocodex') in March 2013, in line with its recently updated corporate strategy. Under terms of the arrangement, Apricus Bio received an upfront payment at closing and is eligible to receive royalties on net sales of Totect(r) by Biocodex through 2016, in exchange for Apricus Bio's sale of its commercialization rights to Totect(r) in North America and South America.
Conference Call Information
The call can be accessed in the U.S. by dialing 877-407-9210 and outside of the U.S. by dialing 201-689-8049 and asking the conference operator for the Apricus Bio Conference Call. The conference call will also be webcast live at http://www.investorcalendar.com/IC/CEPage.asp?ID=17095. The teleconference replay will be available for one week by dialing in the U.S. 877-660-6853 and outside of the U.S. by dialing 201-612-7415. Replay Passcode 413843 is required for playback. The webcast replay will be available for three months.
About Vitaros(r)
Vitaros(r), Apricus Bio's lead product candidate for the treatment of ED, is a topically-applied cream formulation of alprostadil, a vasodilator, which directly increases blood flow to the penis, causing an erection. Alprostadil is a widely accepted alternative to the PDE5 inhibitors for difficult to treat patients, and Vitaros(r) is relatively safe and effective, and offers greater market opportunity due to its patient-friendly form versus both other alprostadil dosage forms and also relative to oral ED products. With a market affecting nearly 150 million men worldwide and representing approximately $2.6 billion in revenue - excluding the U.S. - Vitaros(r) represents a major market opportunity, particularly as a distinct product that addresses a significant underserved population.
About Femprox(r)
Femprox(r) is a product candidate for the treatment of female sexual arousal disorder (FSAD). Seven clinical studies have been successfully completed to date, including one, 98-subject Phase 2 study in the US and a nearly 400-subject Phase 3 study in China. To date, no product has been approved in the U.S. to treat FSAD, a persistent or recurring inability to attain or maintain adequate sexual excitement, causing personal distress. Estimates of the FSAD market size put it on par with erectile dysfunction in males, and possibly larger.
Continue reading here:
DGAP-News: Apricus Biosciences Provides First Quarter 2013 Corporate Update
- The truth about guys and sex: They fake it, too [Last Updated On: April 29th, 2013] [Originally Added On: April 29th, 2013]
- Rock-It Man male sexual performance drug recalled [Last Updated On: April 29th, 2013] [Originally Added On: April 29th, 2013]
- Judge approves class-action lawsuit over erectile dysfunction link to prostate, baldness drugs [Last Updated On: April 29th, 2013] [Originally Added On: April 29th, 2013]
- Apricus, Innovus tackle bedroom disorders [Last Updated On: April 29th, 2013] [Originally Added On: April 29th, 2013]
- Ask Dr. K: Precautions for male bicyclists [Last Updated On: April 29th, 2013] [Originally Added On: April 29th, 2013]
- Advanced Male Medical Center Announces Hiring of Erick Salazar [Last Updated On: April 29th, 2013] [Originally Added On: April 29th, 2013]
- Faking the big O [Last Updated On: April 29th, 2013] [Originally Added On: April 29th, 2013]
- Priapus Shot - Video [Last Updated On: April 29th, 2013] [Originally Added On: April 29th, 2013]
- Trimel Submits New Drug Application for CompleoTRT(TM) to FDA [Last Updated On: April 30th, 2013] [Originally Added On: April 30th, 2013]
- 4 Bio Stocks to Buy Today [Last Updated On: May 1st, 2013] [Originally Added On: May 1st, 2013]
- Class-Action Lawsuit on Propecia Erectile Dysfunction Approved: Now, AttorneyOne Can Provide Advice [Last Updated On: May 3rd, 2013] [Originally Added On: May 3rd, 2013]
- Trimel to Report First Quarter 2013 Results and Host Investor Call [Last Updated On: May 3rd, 2013] [Originally Added On: May 3rd, 2013]
- Acupuncture Presentation Part 2 - Video [Last Updated On: May 6th, 2013] [Originally Added On: May 6th, 2013]
- Sixty-One Per Cent of Women Say their Sex Lives are Suffering Due to a Condition of Menopause [Last Updated On: May 7th, 2013] [Originally Added On: May 7th, 2013]
- Apricus Biosciences Announces Poster Presentation of Vitaros(R) Data in Men Previously Unresponsive to PDE-5 ... [Last Updated On: May 8th, 2013] [Originally Added On: May 8th, 2013]
- Dietary Supplement Lightning Rod Capsules Recall [Last Updated On: May 8th, 2013] [Originally Added On: May 8th, 2013]
- Apricus Biosciences Announces First Quarter 2013 Financial Results Conference Call [Last Updated On: May 8th, 2013] [Originally Added On: May 8th, 2013]
- BioSante Pharmaceuticals and ANI Pharmaceuticals Announce Special Meetings of Stockholders to Consider Proposed Merger [Last Updated On: May 9th, 2013] [Originally Added On: May 9th, 2013]
- Why Wait? Enlast Personal Male Lubricant. Stop Premature Ejaculation In Its Tracks With Enlast.flv - Video [Last Updated On: May 9th, 2013] [Originally Added On: May 9th, 2013]
- Searching For Male Fountain of Youth? Go Exercise [Last Updated On: May 11th, 2013] [Originally Added On: May 11th, 2013]
- BioSante Pharmaceuticals, Inc. Reports First Quarter Financial Results [Last Updated On: May 11th, 2013] [Originally Added On: May 11th, 2013]
- Apricus Biosciences Provides First Quarter 2013 Corporate Update [Last Updated On: May 11th, 2013] [Originally Added On: May 11th, 2013]
- Sex and the elderly male [Last Updated On: May 12th, 2013] [Originally Added On: May 12th, 2013]
- Couple sues state over toddler's sexual-reassignment surgery [Last Updated On: May 15th, 2013] [Originally Added On: May 15th, 2013]
- Columbia couple sues state over toddler’s sexual-reassignment surgery [Last Updated On: May 15th, 2013] [Originally Added On: May 15th, 2013]
- If Sexual Dysfunction Were a Virus, "It'd Be Pandemic": Expert [Last Updated On: May 16th, 2013] [Originally Added On: May 16th, 2013]
- Couple files groundbreaking lawsuit over child’s sexual-reassignment surgery [Last Updated On: May 16th, 2013] [Originally Added On: May 16th, 2013]
- The Dangers Lurking in Male Sexual Supplements [Last Updated On: May 17th, 2013] [Originally Added On: May 17th, 2013]
- West Jordan man pleads guilty to falsely advertising, selling Viagra-like drug [Last Updated On: May 17th, 2013] [Originally Added On: May 17th, 2013]
- Manning up to the church [Last Updated On: May 20th, 2013] [Originally Added On: May 20th, 2013]
- Boy who manned up to the church [Last Updated On: May 20th, 2013] [Originally Added On: May 20th, 2013]
- The low-down on erectile problems [Last Updated On: May 21st, 2013] [Originally Added On: May 21st, 2013]
- Study: Genital Warts May Lead to Sexual Dysfunction; polyDNA Recommends Gene-Eden-VIR Against the Genital Warts Virus [Last Updated On: May 22nd, 2013] [Originally Added On: May 22nd, 2013]
- Quit smoking for a better sex life - study [Last Updated On: May 22nd, 2013] [Originally Added On: May 22nd, 2013]
- If It Doesn’t Make Us Nymphos, Female Viagra Will Save Monogamy [Last Updated On: May 23rd, 2013] [Originally Added On: May 23rd, 2013]
- Erectile dysfunction drugs sold as herbal medicine [Last Updated On: May 24th, 2013] [Originally Added On: May 24th, 2013]
- Heart failure ups risk of male menopause 4 fold [Last Updated On: May 25th, 2013] [Originally Added On: May 25th, 2013]
- Heart failure accelerates male 'menopause' [Last Updated On: May 25th, 2013] [Originally Added On: May 25th, 2013]
- New Asia-Pacific Sexual Satisfaction Study Pulls Back the Covers on Relationship Tension Facing Couples [Last Updated On: May 28th, 2013] [Originally Added On: May 28th, 2013]
- Heart Disease Accelerates Male Menopause [Last Updated On: May 29th, 2013] [Originally Added On: May 29th, 2013]
- Igniting woman's sexual desire is more than popping pill [Last Updated On: May 30th, 2013] [Originally Added On: May 30th, 2013]
- Warning: 'Natural' sex supplements may not be [Last Updated On: May 31st, 2013] [Originally Added On: May 31st, 2013]
- Dangers of sex supplements [Last Updated On: May 31st, 2013] [Originally Added On: May 31st, 2013]
- Warning: Men's natural sex supplements may not be [Last Updated On: May 31st, 2013] [Originally Added On: May 31st, 2013]
- Sex is doctor's life's work [Last Updated On: June 1st, 2013] [Originally Added On: June 1st, 2013]
- Sex is life's work for doctor [Last Updated On: June 3rd, 2013] [Originally Added On: June 3rd, 2013]
- Sexual stress common in men [Last Updated On: June 6th, 2013] [Originally Added On: June 6th, 2013]
- Sexual performance anxiety [Last Updated On: June 6th, 2013] [Originally Added On: June 6th, 2013]
- Affirm XL, Inc. Re-launches U.S. Made Sexual Enhancement Dietary Supplement [Last Updated On: June 6th, 2013] [Originally Added On: June 6th, 2013]
- Apricus Biosciences Receives European Approval for Vitaros(R) for the Treatment of Erectile Dysfunction [Last Updated On: June 11th, 2013] [Originally Added On: June 11th, 2013]
- DGAP-News: Apricus Biosciences Receives European Approval for Vitaros(R) for the Treatment of Erectile Dysfunction [Last Updated On: June 11th, 2013] [Originally Added On: June 11th, 2013]
- BPA linked to obesity risk in puberty-age girls [Last Updated On: June 13th, 2013] [Originally Added On: June 13th, 2013]
- Baldness drug curbs interest in alcohol, study says- Fla. mom dies after butt enhancing injections [Last Updated On: June 14th, 2013] [Originally Added On: June 14th, 2013]
- Anti-baldness drug can cause men to lose interest in alcohol [Last Updated On: June 14th, 2013] [Originally Added On: June 14th, 2013]