A.P. Pharma, Inc. (OTCBB: APPA.OB), a specialty pharmaceutical company, announced today that it has filed an application to list the Company’s common stock on the NASDAQ Capital Market. In addition, the Company’s Board of Directors has, subject to stockholder approval, approved proposals to rename the Company "Heron Therapeutics, Inc." and to implement a reverse split of its common stock. The reverse stock split will be implemented in support of the Company’s NASDAQ listing application at a specific ratio within the range of 1:10 to 1:20, as fixed by the board following stockholder approval.
“As a component of our recent corporate restructuring, we feel it is important to rebrand the organization’s identity,” said Barry Quart, Pharm D., A.P. Pharma’s Chief Executive Officer. “In addition, our planned reverse split will be an important component to further strengthen the organization and allow us to seek relisting on the NASDAQ. Together, we believe these activities will help better position the Company in advance of the resubmission of our New Drug Application for APF530, our lead product candidate for the prevention of chemotherapy-induced nausea and vomiting, and its potential commercialization.”
The Company will be filing a proxy statement for stockholder consideration of these proposals and expects to hold a stockholder meeting on these proposals in mid-September. If these proposals are approved, the Company expects that it will commence trading on the NASDAQ Capital Market in early October, subject to satisfaction of NASDAQ listing standards.
About A.P. PharmaA.P. Pharma is a specialty pharmaceutical company developing products using its proprietary Biochronomer™ polymer-based drug delivery platform. This drug delivery platform is designed to improve the therapeutic profile of injectable pharmaceuticals by converting them from products that must be injected once or twice per day to products that need to be injected only once every one or two weeks. The Company’s lead product candidate, APF530, is being developed for the prevention of both acute- and delayed-onset chemotherapy-induced nausea and vomiting. For further information, please visit the Company's web site at www.appharma.com. Forward-looking Statements This news release contains "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties, including uncertainties associated with the potential approval of APF530 and the potential timing for such approval, if approved at all, the projected timing for the commercial launch of APF530, if approved, as well as risks relating to qualifying for listing on the NASDAQ Capital Market, capital resources and liquidity, satisfactory completion of clinical studies, progress in research and development programs, successful launch and acceptance of new products and other risks and uncertainties identified in the Company's filings with the Securities and Exchange Commission. We caution investors that forward-looking statements reflect our analysis only on their stated date. We do not intend to update them except as required by law.