SAN DIEGO, Nov. 21, 2016 /PRNewswire/ -- Mast
Therapeutics, Inc. (NYSE MKT: MSTX), a clinical-stage
biopharmaceutical company, today provided an update regarding its
recently announced campaign to evaluate strategic
opportunities.
- Preliminary Indications of Interest in Reverse Merger
Transactions. The Company has received several written
indications of interest from privately-held companies, including
companies with synergistic clinical-stage drug candidates, and is
actively evaluating these opportunities.
- Other Strategic Opportunities. Concurrently, the
Company will continue to explore ways to strategically monetize its
vepoloxamer assets, including through licensing transactions.
- Continued Clinical Development of AIR001. In
parallel with exploring strategic opportunities, the Company will
continue to support ongoing and planned investigator-sponsored
clinical studies of its lead asset, AIR001, for the treatment of
patients with heart failure with preserved ejection fraction
(HFpEF).
"Our recently-announced strategic process has generated a number
of opportunities that would be transformative for Mast," stated
Brian M. Culley, Chief Executive
Officer of Mast Therapeutics. "We are diligently and
expeditiously reviewing these strategic alternatives, which we
believe could maximize returns for our stockholders. We also remain
excited about the potential for AIR001 in HFpEF and look forward to
more data from investigator-sponsored studies in 2017," continued
Mr. Culley.
About Mast Therapeutics
Mast Therapeutics, Inc. is a publicly traded biopharmaceutical
company headquartered in San Diego,
California. The Company has two clinical-stage
investigational new drugs, AIR001 and vepoloxamer. AIR001, a
sodium nitrite solution for intermittent inhalation via
nebulization, is in Phase 2 clinical development for the treatment
of heart failure with preserved ejection fraction (HFpEF). More
information can be found on the Company's web site at
www.masttherapeutics.com. Mast Therapeutics™ and the corporate logo
are trademarks of Mast Therapeutics, Inc.
Forward Looking Statements
Mast Therapeutics cautions you that statements in this press
release that are not a description of historical fact are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words referencing future
events or circumstances such as "expect," "intend," "plan,"
"anticipate," "believe," and "will," among others. Examples
of forward-looking statements in this press release include
statements relating to potential strategic transactions for the
Company and/or its assets and the value such transactions may
provide the Company's stockholders. Forward-looking
statements should not be read as guarantees of future performance
or results because they involve the Company's beliefs and
assumptions based on currently available information and are
subject to significant known and unknown risks and uncertainties
that may cause actual performance and results to differ materially
from expectations indicated by the forward-looking statements. Some
of the factors that could cause actual performance or results to
differ include, without limitation: that Company's process for
identifying and evaluating potential transactions is ongoing and
may not result in consummation of a strategic transaction on a
timely basis or at all; the potential for companies that have
expressed interest in a strategic transaction with the Company to
determine not to pursue a transaction or offer terms that the
Company determines are acceptable; the risk that any strategic
transaction that the Company may consummate may offer limited value
for its product candidates and proprietary technology and may not
enhance stockholder value or provide expected benefits; the
Company's need for additional funding and risk that it may not be
able to obtain sufficient funding as needed; risks associated with
the Company's ability to manage operating expenses; uncertainty
related to the Company's ability to continue as a going concern;
risk of an event of default under the Company's debt facility that
could result in the Company being required to repay its outstanding
debt obligation and related fees on an accelerated basis and/or at
a time that could be detrimental to the Company's financial
condition, operations and/or business strategy; the impact of
significant reductions in the Company's operations on its ability
to develop its product candidates or maintain compliance with laws
and regulations relating to public companies; the Company's ability
to maintain compliance with NYSE MKT continued listing standards
and policies and to maintain the listing and trading of its common
stock on a national securities exchange; uncertainties inherent in
the conduct of clinical studies and the risk that the Company's
product candidates may not demonstrate adequate safety, efficacy or
tolerability in one or more clinical studies for approval by
regulatory authorities; the Company's lack of control over the
investigator-sponsored clinical studies of AIR001, including
whether the studies will commence or be completed on anticipated
timelines, or at all; the potential for significant delays,
reductions, or discontinuation of current and/or planned
development activities if the Company is unable to raise sufficient
additional capital as needed; the Company's dependence on third
parties to assist with important aspects of development of the
Company's product candidates, including the conduct of its clinical
studies, the manufacture and supply of clinical trial material,
including drug delivery devices, and the conduct of regulatory
activities, and the risk that such third parties may fail to
perform as expected leading to delays in product candidate
development and additional costs; the risk that the Company is not
able to obtain or maintain effective patent coverage or other
market exclusivity protections for its products, if approved, or
that the use or manufacture of the Company's products may infringe
the proprietary rights of others; and other risks and uncertainties
more fully described in the Company's press releases and its
reports filed with the Securities and Exchange Commission. The
Company's public filings with the Securities and Exchange
Commission are available at www.sec.gov.
You are cautioned not to place undue reliance on forward-looking
statements, which speak only as of the date when made. Mast
Therapeutics does not intend to revise or update any
forward-looking statement set forth in this press release to
reflect events or circumstances arising after the date hereof,
except as may be required by law.
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SOURCE Mast Therapeutics, Inc.