LEAWOOD, Kan., Dec. 15, 2017 /PRNewswire/ -- Aratana
Therapeutics, Inc. (NASDAQ: PETX) has received top-line pivotal
field effectiveness study results for AT-016, an investigational
adipose-derived allogeneic stem cell therapeutic candidate for the
control of clinical signs associated with osteoarthritis.
On December 14, 2017, Aratana's
license partner responsible for the development of AT-016 shared
the results of a pivotal study, which did not achieve
protocol-defined efficacy success criteria. As part of Aratana's
exclusive commercial license for dogs with osteoarthritis in
the United States, Aratana had
funded the clinical study and other work. Aratana anticipates that
after its license partner has further evaluated the study results,
the parties will determine if the collaboration to bring the
therapeutic to market will continue.
"Recently, the focus has been on the commercialization of our
three FDA-approved pet therapeutics ENTYCE, NOCITA, and
GALLIPRANT," explained Steven St.
Peter, M.D., President and Chief Executive Officer of
Aratana Therapeutics. "However, Aratana continues to invest in a
pipeline of development-stage therapeutic candidates. While we are
disappointed with this individual study result, we have had our
successes and will continue to execute on our pet therapeutics
business model."
About Aratana Therapeutics
Aratana Therapeutics is a
pet therapeutics company focused on licensing, developing and
commercializing innovative therapeutics for dogs and cats. Aratana
believes that it can leverage the investment in the human
biopharmaceutical industry to bring therapeutics to dogs and cats
in a capital and time efficient manner. The company's pipeline
includes therapeutic candidates for the potential treatment of
pain, inappetence, viral diseases, allergy, cancer and other
serious medical conditions. Aratana believes the development and
commercialization of these therapeutics will permit veterinarians
and pet owners to manage pets' medical needs safely and
effectively, resulting in longer and improved quality of life for
pets. For more information, please visit www.aratana.com.
Forward-Looking Statements Disclaimer
This press
release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. All
statements contained in this press release that do not relate to
matters of historical fact should be considered forward-looking
statements, including without limitation statements with respect to
the final results of the AT-016 pivotal study; the timing and
nature of our collaboration with our license partner related to
AT-016; and our ability to execute on our business model.
These forward-looking statements are based on management's
current expectations. These statements are neither promises nor
guarantees, but involve known and unknown risks, uncertainties and
other important factors that may cause our actual results,
performance or achievements to be materially different from any
future results, performance or achievements expressed or implied by
the forward-looking statements, including, but not limited to, the
following: our history of operating losses and our expectation that
we will continue to incur losses for the foreseeable future;
failure to obtain sufficient capital to fund our operations; risks
relating to the impairment of intangible assets; risks relating to
the discontinuation of BLONTRESS and TACTRESS; risks pertaining to
stockholder class action lawsuits; unstable market and economic
conditions; restrictions on our financial flexibility due to the
terms of our credit facility; our substantial dependence upon the
commercial success of our therapeutics; development of our biologic
therapeutic candidates is dependent upon relatively novel
technologies and uncertain regulatory pathways, and biologics may
not be commercially viable; denial or delay of regulatory approval
for our existing or future therapeutic candidates; failure of our
therapeutic candidates that receive regulatory approval to achieve
market acceptance or achieve commercial success; product liability
lawsuits that could cause us to incur substantial liabilities and
limit commercialization of current and future therapeutics; failure
to realize anticipated benefits of our acquisitions and
difficulties associated with integrating the acquired businesses;
development of pet therapeutics is a lengthy and expensive process
with an uncertain outcome; competition in the pet therapeutics
market, including from generic alternatives to our therapeutic
candidates, and failure to compete effectively; failure to
identify, license or acquire, develop and commercialize additional
therapeutic candidates; failure to attract and retain senior
management and key scientific personnel; our reliance on
third-party manufacturers, suppliers and partners; regulatory
restrictions on the marketing of our approved therapeutics and
therapeutic candidates; our small commercial sales organization,
and any failure to create a sales force or collaborate with
third-parties to commercialize our approved therapeutics and
therapeutic candidates; difficulties in managing the growth of our
company; significant costs of being a public company; risks related
to the restatement of our financial statements for the year ended
December 31, 2013, and the
identification of a material weakness in our internal control over
financial reporting; changes in distribution channels for pet
therapeutics; consolidation of our veterinarian customers;
limitations on our ability to use our net operating loss
carryforwards; impacts of generic products; safety or efficacy
concerns with respect to our therapeutic candidates; effects of
system failures or security breaches; delay or termination of the
development of grapiprant therapeutic candidates and
commercialization of grapiprant products that may arise from
termination of or failure to perform under the collaboration
agreement and/or the co-promotion agreement with Elanco; failure to
obtain ownership of issued patents covering our therapeutic
candidates or failure to prosecute or enforce licensed patents;
failure to comply with our obligations under our license
agreements; effects of patent or other intellectual property
lawsuits; failure to protect our intellectual property; changing
patent laws and regulations; non-compliance with any legal or
regulatory requirements; litigation resulting from the misuse of
our confidential information; the uncertainty of the regulatory
approval process and the costs associated with government
regulation of our therapeutic candidates; failure to obtain
regulatory approvals in foreign jurisdictions; effects of
legislative or regulatory reform with respect to pet therapeutics;
the volatility of the price of our common stock; our status as an
emerging growth company, which could make our common stock less
attractive to investors; dilution of our common stock as a result
of future financings; the influence of certain significant
stockholders over our business; and provisions in our charter
documents and under Delaware law
could delay or prevent a change in control. These and other
important factors discussed under the caption "Risk Factors" in the
Company's Annual Report on Form 10-K filed with the Securities and
Exchange Commission, or SEC, on March 14,
2017, along with our other reports filed with the SEC could
cause actual results to differ materially from those indicated by
the forward-looking statements made in this press release. Any such
forward-looking statements represent management's estimates as of
the date of this press release. While we may elect to update such
forward-looking statements at some point in the future, we disclaim
any obligation to do so, even if subsequent events cause our views
to change, except as required under applicable law. These
forward-looking statements should not be relied upon as
representing our views as of any date subsequent to the date of
this press release.
Contacts
For Aratana investor
inquires:
Craig
Tooman
ctooman@aratana.com
(913) 353-1026
For media inquiries:
Rachel Reiff
rreiff@aratana.com
(913) 353-1050
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SOURCE Aratana Therapeutics, Inc.