LOS
GATOS, Calif., Sept. 27,
2022 /PRNewswire/ -- Aridis Pharmaceuticals, Inc.
(Nasdaq: ARDS), a biopharmaceutical company focused on the
discovery and development of novel anti-infective therapies to
treat life-threatening infections, today announced that due to
adverse market conditions, it has withdrawn its proposed public
offering of shares of its common stock.
"Due to the current market environment and in the interest of
achieving the best value for our stockholders, we have decided to
withdraw our recently announced public offering of common stock and
focus on executing our clinical development plans," said
Vu Truong, CEO of Aridis.
About Aridis Pharmaceuticals, Inc.
Aridis Pharmaceuticals, Inc. discovers and develops novel
anti-infective therapies to treat life-threatening infections,
including anti-infectives to be used as add-on treatments to
standard-of-care antibiotics. The Company is utilizing its
proprietary ʎPEXTM and MabIgX® technology
platforms to rapidly identify rare, potent antibody-producing
B-cells from patients who have successfully overcome an infection,
and to rapidly manufacture monoclonal antibody (mAbs) for
therapeutic treatment of critical infections. These mAbs are
already of human origin and functionally optimized for high potency
by the donor's immune system; hence, they technically do not
require genetic engineering or further optimization to achieve full
functionality.
The Company is advancing multiple clinical stage mAbs targeting
bacteria that cause life-threatening infections such as ventilator
associated pneumonia (VAP) and hospital acquired
pneumonia (HAP), in addition to preclinical stage antiviral
mAbs. The use of mAbs as anti-infective treatments represents an
innovative therapeutic approach that harnesses the human immune
system to fight infections and is designed to overcome the
deficiencies associated with the current standard of care which is
broad spectrum antibiotics. Such deficiencies include, but are not
limited to, increasing drug resistance, short duration of efficacy,
disruption of the normal flora of the human microbiome and lack of
differentiation among current treatments. The mAb portfolio is
complemented by a non-antibiotic novel mechanism small molecule
anti-infective candidate being developed to treat lung infections
in cystic fibrosis patients. The Company's pipeline is highlighted
below:
Aridis' Pipeline
AR-301 (VAP). AR-301 is a fully human IgG1 mAb
targeting gram-positive Staphylococcus
aureus (S. aureus) alpha-toxin and is being
evaluated in a global Phase 3 clinical study as an adjunctive
treatment of S. aureus ventilator associated pneumonia
(VAP).
AR-320 (VAP). AR-320 is a fully human IgG1 mAb
targeting S. aureus alpha-toxin that is being evaluated
in a Phase 3 clinical study as a preventative treatment of S.
aureus colonized mechanically ventilated patients who do not
yet have VAP.
AR-501 (cystic fibrosis). AR-501 is an inhaled
formulation of gallium citrate with broad-spectrum anti-infective
activity being developed to treat chronic lung infections in cystic
fibrosis patients. This program is currently in Phase 2a
clinical development in CF patients.
AR-701 (COVID-19). AR-701 is a cocktail of fully
human mAbs discovered from convalescent COVID-19 patients that are
directed at multiple protein epitopes on the SARS-CoV-2 virus. It
is formulated for delivery via intramuscular injection or
inhalation using a nebulizer.
AR-401 (blood stream infections). AR-401 is a
fully human mAb preclinical program aimed at treating infections
caused by gram-negative Acinetobacter baumannii.
AR-101 (HAP). AR-101 is a fully human
immunoglobulin M, or IgM, mAb in Phase 2 clinical development
targeting Pseudomonas aeruginosa (P.
aeruginosa) liposaccharides serotype O11, which accounts
for approximately 22% of all P.
aeruginosa hospital acquired pneumonia cases
worldwide.
AR-201 (RSV infection). AR-201 is a fully human IgG1
mAb out-licensed preclinical program aimed at neutralizing diverse
clinical isolates of respiratory syncytial virus (RSV).
For additional information on Aridis Pharmaceuticals, please
visit https://aridispharma.com/.
Forward-Looking Statements
Certain statements in this press release are forward-looking
statements that involve a number of risks and uncertainties. These
statements may be identified by the use of words such as
"anticipate," "believe," "forecast," "estimated" and "intend" or
other similar terms or expressions that concern Aridis'
expectations, strategy, plans or intentions. These forward-looking
statements are based on Aridis' current expectations and actual
results could differ materially. There are a number of factors that
could cause actual events to differ materially from those indicated
by such forward-looking statements. These factors include, but are
not limited to, the need for additional financing, the timing of
regulatory submissions, Aridis' ability to obtain and maintain
regulatory approval of its existing product candidates and any
other product candidates it may develop, approvals for clinical
trials may be delayed or withheld by regulatory agencies, risks
relating to the timing and costs of clinical trials, risks
associated with obtaining funding from third parties, management
and employee operations and execution risks, loss of key personnel,
competition, risks related to market acceptance of products,
intellectual property risks, risks related to business
interruptions, including the outbreak of COVID-19 coronavirus,
which could seriously harm our financial condition and
increase our costs and expenses, risks associated with the
uncertainty of future financial results, Aridis' ability to attract
collaborators and partners and risks associated with Aridis'
reliance on third party organizations. While the list of
factors presented here is considered representative, no such list
should be considered to be a complete statement of all potential
risks and uncertainties. Unlisted factors may present significant
additional obstacles to the realization of forward-looking
statements. Actual results could differ materially from those
described or implied by such forward-looking statements as a result
of various important factors, including, without limitation, market
conditions and the factors described under the caption "Risk
Factors" in Aridis' 10-K for the year ended December 31, 2021 and Aridis' other filings made
with the Securities and Exchange Commission. Forward-looking
statements included herein are made as of the date hereof, and
Aridis does not undertake any obligation to update publicly such
statements to reflect subsequent events or circumstances.
Contact:
Media Communications:
Matt Sheldon
RedChip Companies Inc.
Matt@redchip.com
1-917-280-7329
Investor Relations
Dave Gentry
Redchip
Dave@redchip.com
1-800-733-2447
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SOURCE Aridis Pharmaceuticals, Inc.
