Acasti Issues Shares in Settlement of Claims with Former Chief Executive Officer
May 23 2019 - 4:00PM
Acasti Pharma Inc. (“Acasti or the “Company”) (NASDAQ: ACST –
TSX-V: ACST) announced that it has completed the previously
disclosed issuance of 900,000 common shares from treasury to its
former chief executive officer (the “Former CEO”) pursuant to the
terms of a settlement agreement announced by the Company on May 10,
2019. The common shares issued to the Former CEO are subject to a
four-month and one day hold period, in accordance with applicable
securities laws, which will expire on September 23, 2019.
About Acasti Pharma
Acasti Pharma is a biopharmaceutical innovator
advancing a potentially best-in-class cardiovascular drug, CaPre®
(omega-3 phospholipid), for the treatment of hypertriglyceridemia,
a chronic condition affecting an estimated one third of the U.S.
population. Since its founding in 2008, Acasti Pharma has focused
on addressing a critical market need for an effective, safe and
well-absorbing omega-3 therapeutic that can make a positive impact
on the major blood lipids associated with cardiovascular disease
risk. Acasti Pharma is developing CaPre in a Phase 3 clinical
program in patients with severe hypertriglyceridemia, a market that
includes 3 to 4 million patients in the U.S. The addressable market
may expand significantly if omega-3s demonstrate long-term
cardiovascular benefits in on-going third-party outcomes studies.
Acasti Pharma may need to conduct at least one additional clinical
trial to support FDA approval of a supplemental New Drug
Application to expand CaPre’s indications to this segment. Acasti
Pharma’s strategy is to commercialize CaPre in the U.S. and Acasti
Pharma is pursuing development and distribution partnerships to
market CaPre in major countries around the world. For more
information, visit www.acastipharma.com.
Forward Looking Statements
Statements in this press release that are not
statements of historical or current fact constitute
“forward-looking information” within the meaning of Canadian
securities laws and “forward-looking statements” within the meaning
of U.S. federal securities laws (collectively, “forward-looking
statements”). Such forward-looking statements involve known and
unknown risks, uncertainties, and other unknown factors that could
cause the actual results of Acasti Pharma to be materially
different from historical results or from any future results
expressed or implied by such forward-looking statements. In
addition to statements which explicitly describe such risks and
uncertainties, readers are urged to consider statements labeled
with the terms “believes,” “belief,” “expects,” “intends,”
“anticipates,” “potential,” “should,” “may,” “will,” “plans,”
“continue”, “targeted” or other similar expressions to be uncertain
and forward-looking. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date of this press release.
The forward-looking statements contained in this
press release are expressly qualified in their entirety by this
cautionary statement, the “Cautionary Note Regarding
Forward-Looking Information” section contained in Acasti Pharma’s
latest annual report on Form 20-F and most recent management’s
discussion and analysis (MD&A), which are available on SEDAR at
www.sedar.com, on EDGAR at www.sec.gov/edgar/shtml, and on the
investor section of Acasti Pharma’s website at
www.acastipharma.com. All forward-looking statements in this press
release are made as of the date of this press release. Acasti
Pharma does not undertake to update any such forward-looking
statements whether as a result of new information, future events or
otherwise, except as required by law. The forward-looking
statements contained herein are also subject generally to
assumptions and risks and uncertainties that are described from
time to time in Acasti Pharma’s public securities filings with the
Securities and Exchange Commission and the Canadian securities
commissions, including Acasti Pharma’s latest annual report on Form
20-F and most recent MD&A.
Neither NASDAQ, the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Acasti Contact:Jan D’Alvise,
President and Chief Executive Officer Tel: 450-686-4555 Email:
info@acastipharma.com www.acastipharma.com
Investor Contact:Crescendo
Communications, LLCTel: 212-671-1020Email:
ACST@crescendo-ir.com
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