ACST Acasti Pharma Inc.

0.34
+0.02  (+6%)
Previous Close 0.32
Open 0.32
52 Week Low 0.171
52 Week High 3.08
Market Cap $32,943,463
Shares 96,892,537
Float 77,927,734
Enterprise Value $22,020,933
Volume 10,720,953
Av. Daily Volume 6,492,771
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Drug Pipeline

Drug Stage Notes
CaPre (TRILOGY 1 and 2)
Hypertriglyceridemia
Phase 3
Phase 3
Phase 3 TRILOGY 1 data did not meet primary endpoint - January 13, 2020. TRILOGY 2 data August 31, 2020 also did not meet primary endpoint.

Latest News

  1. LAVAL, Quebec, Nov. 16, 2020 (GLOBE NEWSWIRE) -- Acasti Pharma Inc. ("Acasti or the "Company") (NASDAQ:ACST, TSXV:ACST) today provided a business update and announced its operating and financial results for the second quarter of fiscal 2021 ended September 30, 2020.

    Recent Events:

    TRILOGY 1 & 2 Topline Results. The Company's two Phase 3 clinical trials, designated as TRILOGY 1 & 2, were designed to evaluate the efficacy, safety and tolerability of CaPre in patients with severe hypertriglyceridemia. The top-line results were announced on January 13, 2020 and August 31, 2020 respectively, and neither TRILOGY 1 nor TRILOGY 2 independently reached statistical significance, and therefore they did not meet their primary endpoint for lowering triglycerides…

    LAVAL, Quebec, Nov. 16, 2020 (GLOBE NEWSWIRE) -- Acasti Pharma Inc. ("Acasti or the "Company") (NASDAQ:ACST, TSXV:ACST) today provided a business update and announced its operating and financial results for the second quarter of fiscal 2021 ended September 30, 2020.

    Recent Events:

    TRILOGY 1 & 2 Topline Results. The Company's two Phase 3 clinical trials, designated as TRILOGY 1 & 2, were designed to evaluate the efficacy, safety and tolerability of CaPre in patients with severe hypertriglyceridemia. The top-line results were announced on January 13, 2020 and August 31, 2020 respectively, and neither TRILOGY 1 nor TRILOGY 2 independently reached statistical significance, and therefore they did not meet their primary endpoint for lowering triglycerides. Although the triglyceride reduction in the CaPre arm was one of the largest seen amongst previously conducted triglyceride reduction studies, the Company will not file a New Drug Application (NDA) with the U.S. Food and Drug Administration (FDA) for patients with severe hypertriglyceridemia and does not plan to conduct additional clinical trials for CaPre.

    Engaged Oppenheimer & Co. Inc. to Assist in Strategic Review. On September 29, 2020, the Company announced that it had engaged Oppenheimer & Co. Inc. as its financial advisor to assist in the strategic review process. Potential strategic alternatives that may be explored or evaluated as part of this review include, but are not limited to, a merger, business combination or other strategic transaction involving Acasti and/or CaPre. There is no defined timeline for completion of the review process.

    Reduction in Headcount and Discontinuation of Substantially all Commercial and R&D Activities. The Company initiated a plan in September 2020 to reduce personnel and expenses to preserve cash and further reduce its operations consistent with the decision to discontinue substantially all commercialization and research and development activities. The Company expects to devote significant time and resources to identifying and evaluating strategic alternatives, however, there can be no assurance that such activities will result in any agreements or transactions that will enhance shareholder value.

    Jan D'Alvise, Chief Executive Officer of Acasti, commented, "We remain committed to maximizing value for our shareholders, and as previously disclosed, we are actively exploring and evaluating a range of strategic options. We have also taken a number of proactive steps to preserve our cash by reducing staff, discontinuing all commercialization activities and putting R&D activities on hold. This has resulted in certain one-time and non-cash charges as reflected in our financial statements this quarter. While we continue to pursue strategic alternatives, we plan to complete the full data analyses for TRILOGY as contemplated in the Statistical Analysis Plan, including the pooling of the data from TRILOGY 1 and 2. As previously disclosed, we plan to provide an update on the final TRILOGY data when feasible."

    Second Quarter of Fiscal 2021 Financial Results (US dollars):

    The consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP").

    • Loss from operations for the three months September 30, 2020 was $7.8 million, compared to a loss from operations of $6.3 million for the three months ended September 30, 2019. The increase was due mainly to impairment charges of $5.3 million, $3.7 million related to intangible assets and $1.6 million related to production and lab equipment, offset by a reduction in R&D, general and administrative expenses, and sales and marketing expenses.
    • Net loss for the three months ended September 30, 2020 was $6.1 million or $0.06 per share, compared to a net loss of $21.2 million or $0.25 per share for the three months ended September 30, 2019. The reduction in net loss, resulted primarily from net financial expenses decreasing to a gain of $1.9 million for the three months ended September 30, 2020, as compared to net financial expenses of $14.9 million for the three months ended September 30, 2019. This is due mostly to a decreased impact from the change in fair value of the derivative warrant liability as compared to the comparative fiscal quarter in 2019, caused by a proportionately higher decrease in the quarter over quarter closing share price partly offset by a reduction in the number of warrants outstanding due to exercises during the prior year.
    • R&D expenses before depreciation, amortization and stock-based compensation expenses were $0.8 million for the three months ended September 30, 2020, compared to $3.3 million for the three months ended September 30, 2019. The net decrease was mainly attributable to a reduction in salaries and research contracts with the reduction in R&D activities.
    • General and Administrative expenses before stock-based compensation expenses were $1.1 million for the three months ended September 30, 2020, compared to $1.1 million for the three months ended September 30, 2019. This reflects a $0.27 million increase related to legal fees related offset by a decrease of $0.23 million related to salaries, due to a reversal of bonus accruals.
    • Sales and Marketing expenses before stock-based compensation expenses were $0.02 million for the three months ended September 30, 2020, compared to $0.66 million for the three months ended September 30, 2019. The decrease was mostly due to a reduction in professional fees as a result of a reclassification of professional and other expenses to R&D.
    • Cash flows Cash and cash equivalents totaled $11.6 million as of September 30, 2020, compared to $14.2 million at March 31, 2020. Acasti believes that existing cash will fully fund the Company's operations through the second calendar quarter of 2021 or through to an eventual completion of the evaluation of strategic options, but there can be no assurance as to when or whether Acasti will complete any strategic transaction, collaboration or non-dilutive financings. If the Company cannot raise additional funds or find one or more strategic partners, it may not be able to realize its assets and discharge its liabilities in the normal course of business. As a result, there exists substantial doubt about the Company's ability to continue as a going concern, and therefore, realize its assets and discharge its liabilities in the normal course of business.

    NASDAQ Minimum Bid Price Rule

    On February 28, 2020, Acasti received written notification from the NASDAQ Listing Qualifications Department for failing to maintain a minimum bid price of $1.00 per share for the preceding 30 consecutive business days, as required by NASDAQ Listing Rule 5550(a)(2) – bid price (the "Minimum Bid Price Rule"). Under NASDAQ Listing Rule 5810(c)(3)(A) – compliance period, Acasti initially had 180 calendar days to regain compliance.

    On April 17, 2020, Acasti was informed that NASDAQ had granted temporary regulatory relief related to the Minimum Bid Price Rule due to the COVID-19 pandemic for all NASDAQ-listed companies and therefore extended the deadline for Acasti to regain compliance to November 9, 2020.

    On November 11, 2020, Acasti was further informed that NASDAQ had granted an additional 180 calendar days, or until May 10, 2021, for Acasti to regain compliance with the Minimum Bid Price Rule.

    Retention Agreements

    In connection with its strategic review process, the Company also announces that, upon the recommendation of the Governance and Human Resources Committee of the board of directors, it has entered into retention incentive agreements with Ms. Jan D'Alvise, the Company's President and Chief Executive Officer, and Mr. Pierre Lemieux, the Company's Chief Operating Officer and Chief Scientific Officer (the "Retention Agreements").

    The Retention Agreements provide that the Company will pay Ms. D'Alvise an employment retention incentive of US $100,000 provided that she remains employed with the Company until the earlier of April 30, 2021 or the closing of a merger or like transaction with a third party.

    In addition, the Retention Agreements also provide that the Company will pay each of Ms. D'Alvise and Mr. Lemieux an amount of up to US $125,000 in the event that certain milestones are met in relation to the monetization by the Company of its assets relating to the Company's drug candidate, CaPre.

    The Company also announces the upcoming departure of Mr. Brian Groch, its Chief Commercial Officer, from his position with the Company effective December 31, 2020, until which date he is continuing in his role with Acasti. The Company would like to thank Mr. Groch for his contributions to the Company and wishes him well in his future endeavors.

    About Acasti

    Acasti is a biopharmaceutical innovator that has historically focused on the research, development and commercialization of prescription drugs using OM3 fatty acids delivered both as free fatty acids and bound-to-phospholipid esters, derived from krill oil. OM3 fatty acids have extensive clinical evidence of safety and efficacy in lowering triglycerides in patients with hypertriglyceridemia, or HTG. CaPre, an OM3 phospholipid therapeutic, was being developed for patients with severe HTG.

    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 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. Forward-looking statements in this press release include, but are not limited to, information or statements about Acasti's strategy, future operations, prospects and the plans of management; the outcome of the strategic review process to explore and evaluate strategic alternatives to enhance shareholder value; and Acasti's ability to successfully consummate a strategic transaction.

    The forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement, the "Special Note Regarding Forward-Looking Statements" section contained in Acasti's latest annual report on Form 10-K and quarterly report on Form 10-Q, which are available on EDGAR at www.sec.gov/edgar/shtml, on SEDAR at www.sedar.com and on the investor section of Acasti'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 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's public securities filings with the Securities and Exchange Commission and the Canadian securities commissions, including Acasti's latest annual report on Form 10-K and quarterly report on Form 10-Q under the caption "Risk Factors".

    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

    Chief Executive Officer

    Tel: 450-686-4555

    Email: inacastipharma.com

    www.acastipharma.com

    Investor Contact:

    Crescendo Communications, LLC

    Tel: 212-671-1020

    Email:



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  2. MONTREAL, Nov. 5, 2020 /CNW Telbec/ - Cannara Biotech Inc. ("Cannara" or the "Company") (CSE:LOVE) (OTCQB:LOVFF) (FRA: 8CB) today announced the appointment of Donald Olds as a Director on the Company's board of directors.

    "Don is well recognized within the Montreal business community as a leader both within the life science sector and beyond. We are delighted that he is bringing his experience and integrity to Cannara," said Zohar Krivorot, President and Chief Executive Officer of Cannara. "Don's knowledge regarding how board's create impact beyond governance, and his insights on collaborating with growth companies make him an ideal contributor to Cannara."

    Donald Olds is an experienced life sciences executive, entrepreneur and director with significant experience raising capital for private and public technology companies. Most recently, he was President and Chief Executive Officer of Montreal-based NEOMED Institute, a position he held until the successful closing of a merger with Vancouver-based CDRD. He has held multiple executive positions as Chief Executive Officer, Chief Operations Officer and Chief Financial Officer of private and public life science and technology companies and began his business career as a commercial, corporate and investment banker working across a variety of industry verticals. Mr. Olds has significant corporate governance experience as a board member and chair of both for profit and not for profit organizations. He is currently lead director at Goodfood Markets (TSX:FOOD), director of Acasti Pharma (NASDAQ:ACST), Chair of Aifred Health, past Chair of Oxfam Quebec and director of private Presagia Corp. He holds a master's in business administration and a master's in sciences from McGill University.

    "We would also like to take this opportunity to announce that Lennie Ryer is departing from the Company and we wish him good fortune in his future endeavors," added Mr. Krivorot. "Lennie will continue to provide transition services to the company for a period of 12 months."

    Nicholas Sosiak, Cannara's Senior Vice-President of Finance and Operations, who has been with the Company since April 2019, has been appointed as Interim Chief Financial Officer. Nicholas is a Chartered Professional Accountant and started his career at KPMG in the audit practice, mostly focused on the public sector. Following his tenure as an auditor, he joined Dundee 360 Real Estate Corporation, a subsidiary of Dundee Corporation and a publicly traded company listed on the TSX, as Vice-President of Finance and Accounting where he was responsible for overseeing the company's finance and governance function in addition to managing finances of large-scale real estate development projects like the Queen Elizabeth Hotel and Four Seasons Private Residences. Nicholas has true passion and understanding of the Cannabis industry.

    About Cannara Biotech Inc.

    Cannara Biotech Inc. (CSE:LOVE) (OTCQB:LOVFF) (FRA: 8CB) has built one of the largest indoor cannabis cultivation facilities (625,000 square feet) in Canada and the largest in Quebec. Leveraging Quebec's low electricity costs, Cannara Biotech Inc.'s facility will produce premium-grade indoor cannabis and cannabis-derivative products for the Quebec and Canadian markets.

    The CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

    Cautionary Statement Regarding "Forward-Looking" Information

    This information release contains certain forward-looking information. Such information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by statements herein, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on the Company's current beliefs as well as assumptions made by and information currently available to it as well as other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by the Company in its public securities filings, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

    SOURCE Cannara Biotech Inc.

    Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2020/05/c7245.html

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  3. LAVAL, Québec, Oct. 01, 2020 (GLOBE NEWSWIRE) -- Acasti Pharma Inc. ("Acasti" or the "Corporation") (NASDAQ:ACST, TSXV:ACST), announces the voting results for the matters listed in its management information circular and proxy statement dated August 31, 2020 (the "Circular") held at its Annual and Special Meeting of Shareholders on September 30, 2020 (the "AGM").

    For further information on the voting results of the resolution passed during the AGM, please refer to the Report of Voting Results available on SEDAR at www.sedar.com.

    Election of Directors

    At the AGM, the following individuals were elected as directors of the Corporation for the ensuing year: Roderick N. Carter, Jean-Marie (John) Canan, Jan D'Alvise and Donald Olds.

    Appointment

    LAVAL, Québec, Oct. 01, 2020 (GLOBE NEWSWIRE) -- Acasti Pharma Inc. ("Acasti" or the "Corporation") (NASDAQ:ACST, TSXV:ACST), announces the voting results for the matters listed in its management information circular and proxy statement dated August 31, 2020 (the "Circular") held at its Annual and Special Meeting of Shareholders on September 30, 2020 (the "AGM").

    For further information on the voting results of the resolution passed during the AGM, please refer to the Report of Voting Results available on SEDAR at www.sedar.com.

    Election of Directors

    At the AGM, the following individuals were elected as directors of the Corporation for the ensuing year: Roderick N. Carter, Jean-Marie (John) Canan, Jan D'Alvise and Donald Olds.

    Appointment of Auditors

    At the AGM, KPMG LLP were appointed as the Corporation's auditors for the ensuing fiscal year and the directors were authorized to fix their remuneration.

    Advisory Vote on the Compensation of Named Executive Officers

    At the AGM, shareholders passed an advisory (non-binding) resolution approving the compensation of the Corporation's named executive officers.

    Advisory Vote on the Frequency of Future Shareholder "say-on-pay" Votes

    At the AGM, shareholders passed an advisory (non-binding) resolution approving the option of having an advisory (non-binding) vote approving the compensation of the Corporation's named executive officers once every year.

    Amendments to the Corporation Stock Option Plan and Equity Incentive Plan

    At the AGM, disinterested shareholders approved amendments to the Corporation's stock option plan, as more particularly described in the Circular.

    At the AGM, disinterested shareholders also approved amendments to the Corporation's equity incentive plan, as more particularly described in the Circular.

    The amendments to the Stock Option Plan and the Equity Incentive Plan are subject to TSX-V final approval.

    Adoption of Amended & Restated General By-Law

    At the AGM, shareholders passed a resolution to approve, ratify and confirm the adoption of the amended and restated general by-law of the Corporation, as more particularly described in the Circular.

    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 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 "Special Note Regarding Forward-Looking Statements" section contained in Acasti's latest annual report on Form 10-K and latest quarterly report on Form 10-Q, which are available on SEDAR at www.sedar.com, on EDGAR at www.sec.gov/edgar/shtml, and on the investor section of Acasti'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 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's public securities filings with the Securities and Exchange Commission and the Canadian securities commissions, including Acasti's latest annual report on Form 10-K under the caption "Risk Factors".

    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

    Chief Executive Officer

    Tel: 450-686-4555

    Email:

    www.acastipharma.com

    U.S. Contact:

    Crescendo Communications, LLC

    Tel: 212-671-1020

    Email:

    Primary Logo

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  4. LAVAL, Québec, Sept. 29, 2020 (GLOBE NEWSWIRE) -- Acasti Pharma Inc. ("Acasti" or the "Company") (NASDAQ:ACST, TSXV:ACST) announces the Company has commenced a formal process to explore and evaluate strategic alternatives to enhance shareholder value. Towards this end, the Company has engaged Oppenheimer & Co., Inc., as its financial advisor to assist in the process. There can be no assurance of a successful outcome from these efforts, or of the form or timing of any such outcome. The Company does not intend to make any further disclosures regarding the strategic review process unless and until a specific course of action is approved by the Company's Board of Directors.

    In the meantime, the Company and its clinical advisors plan to complete…

    LAVAL, Québec, Sept. 29, 2020 (GLOBE NEWSWIRE) -- Acasti Pharma Inc. ("Acasti" or the "Company") (NASDAQ:ACST, TSXV:ACST) announces the Company has commenced a formal process to explore and evaluate strategic alternatives to enhance shareholder value. Towards this end, the Company has engaged Oppenheimer & Co., Inc., as its financial advisor to assist in the process. There can be no assurance of a successful outcome from these efforts, or of the form or timing of any such outcome. The Company does not intend to make any further disclosures regarding the strategic review process unless and until a specific course of action is approved by the Company's Board of Directors.

    In the meantime, the Company and its clinical advisors plan to complete the full data analyses as contemplated in the Statistical Analysis Plan for TRILOGY 2, including the secondary and exploratory endpoints, and the pooling of the data from TRILOGY 1 and 2.

    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 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. Forward-looking statements in this press release include, but are not limited to, information or statements about Acasti's strategy, future operations, its review of strategic options, potential value for CaPre®prospects and the plans of management.

    The forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement, the "Special Note Regarding Forward-Looking Statements" section contained in Acasti's latest annual report on Form 10-K, which will be available on EDGAR at www.sec.gov/edgar/shtml, on SEDAR at www.sedar.com and on the investor section of Acasti'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 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's public securities filings with the Securities and Exchange Commission and the Canadian securities commissions, including Acasti's latest annual report on Form 10-K under the caption "Risk Factors".

    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

    Chief Executive Officer

    Tel: 450-686-4555

    Email: inacastipharma.com

    www.acastipharma.com

    Investor Contact:

    Crescendo Communications, LLC

    Tel: 212-671-1020

    Email:

    Primary Logo

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  5. LAVAL, Québec, Sept. 16, 2020 (GLOBE NEWSWIRE) -- Acasti Pharma Inc. ("Acasti" or the "Company") (NASDAQ:ACST, TSXV:ACST) announced that it has appointed seasoned financial executive Brian D. Ford as its Chief Financial Officer, effective September 14, 2020. Mr. Ford assumes the responsibilities formerly held by Jean-Francois Boily, Vice-President, Finance, who recently resigned.

    Brian D. Ford brings over three decades of financial, project management and M&A experience within the healthcare and financial industries. Mr. Ford is an accomplished CPA-CA having served both publicly traded as well as privately owned organizations. Mr. Ford has been responsible for developing business recovery strategies, negotiating M&A transactions, as well…

    LAVAL, Québec, Sept. 16, 2020 (GLOBE NEWSWIRE) -- Acasti Pharma Inc. ("Acasti" or the "Company") (NASDAQ:ACST, TSXV:ACST) announced that it has appointed seasoned financial executive Brian D. Ford as its Chief Financial Officer, effective September 14, 2020. Mr. Ford assumes the responsibilities formerly held by Jean-Francois Boily, Vice-President, Finance, who recently resigned.

    Brian D. Ford brings over three decades of financial, project management and M&A experience within the healthcare and financial industries. Mr. Ford is an accomplished CPA-CA having served both publicly traded as well as privately owned organizations. Mr. Ford has been responsible for developing business recovery strategies, negotiating M&A transactions, as well as managing quarterly and yearly accounting reports. Most recently, Mr. Ford served as Chief Financial Officer and Senior Business Advisor at  a private group of Ontario based medical clinics, including the largest chronic pain management practice in Canada. During his position as CFO and Senior Business Advisor, Mr. Ford significantly improved the Company's performance and was instrumental in preparing the Company for its Initial Public Offering. Prior to that, Mr. Ford served as Chief Financial Officer at Telesta Therapeutics. At Telesta Therapeutics, Mr. Ford helped develop a new business plan and was heavily involved in all capital transactions. Previously, Mr. Ford started his own consulting firm, Petersford Consulting, where he provided clients with finance and business risk services. Mr. Ford began his career at Ernst & Young, working his way to Principal, Business Risk Services, developing essential business plans that evaluated revenue and cost profiles supporting budget planning and understanding drivers of growth, specifically with healthcare companies. Additionally, at Ernst & Young, Mr. Ford participated in and often led teams in due diligence assignments in relation to mergers and acquisitions or the sale of a business, having extensive experience in developing financial forecasts, product and market valuation, and audits of critical accounting and processes. Mr. Ford holds a B.A. in Economics, History, and English from the University of Guelph and has a Graduate Diploma in Accounting from the University of McGill. Mr. Ford is a member of the Ontario Institute of Chartered Accountants.

    Jan D'Alvise, Chief Executive Officer of Acasti, commented, "We are extremely pleased to appoint Brian D. Ford as Chief Financial Officer. Brian brings strong leadership skills, as well as analytical and financial skills that we believe will add significant value. As we explore strategic options and opportunities, we believe Brian's experience in problem solving, strategic transactions, and M&A will prove beneficial. Brian will assume all responsibilities formerly held by Jean-Francois Boily, who recently resigned, as previously announced. We thank Mr. Boily for his contributions to Acasti and wish him well on his future endeavours."

    Brian D. Ford commented, "I'm thrilled to accept the CFO position at Acasti Pharma and look forward to successfully working with the Acasti team. I believe my experience in evaluating strategic opportunities as well as M&A transactions will provide valuable insights for Acasti as we evaluate our options moving forward."

    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 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. Forward-looking statements in this press release include, but are not limited to, information or statements about Acasti's strategy, future operations, its review of strategic options, potential value for CaPre®prospects and the plans of management.

    The forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement, the "Special Note Regarding Forward-Looking Statements" section contained in Acasti's latest annual report on Form 10-K, which will be available on EDGAR at www.sec.gov/edgar/shtml, on SEDAR at www.sedar.com and on the investor section of Acasti'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 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's public securities filings with the Securities and Exchange Commission and the Canadian securities commissions, including Acasti's latest annual report on Form 10-K under the caption "Risk Factors".

    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

    Chief Executive Officer

    Tel: 450-686-4555

    Email: inacastipharma.com

    www.acastipharma.com 

    Investor Contact:

    Crescendo Communications, LLC

    Tel: 212-671-1020

    Email:  

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