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Wired News – Acasti Closes $10 Million Common Share Offering, Intends to Use the Proceeds for Scaling Development of CaPre

LONDON, UK / ACCESSWIRE / January 02, 2018 / Active-Investors.com has just released a free research report on Acasti Pharma Inc. (NASDAQ: ACST). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ACST as the Company's latest news hit the wire. On December 27, 2017, Acasti Pharma, a leading biopharmaceutical company, announced the closing of its firm commitment underwritten offering of 9.9 million common shares, along with accompanying warrants to purchase about 9.8 million common shares, at a combined price to the public of $1.01 per share and a warrant along with it. The aggregate offering proceeds, according to the Company, before deducting underwriting discounts and commissions and other offering expenses, are expected to be about $10 million. Register today and get access to over 1000 Free Research Reports by joining our site below:

www.active-investors.com/registration-sg

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Acasti Pharma most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=ACST

The Announcement

This agreement follows the initial statement made on December 21, 2017, under which Acasti Pharma announced the pricing of its underwritten offering of 9.9 million common shares. The warrants, according to the initial announcement, would be exercisable at an exercise price of $1.26 per share and would be exercisable from issuance till December 27, 2022. Acasti Pharma, according to the announcements, plans to use the net proceeds from the offering and cash on hand to scale up the development of CaPre, including clinical site activation, progression of patient enrollment and production of clinical materials for its Phase-3 program.

The Company additionally plans to use the proceeds for expanding business development activities, working capital, and other general corporate purposes. Acasti Pharma is actively involved in the development of CaPre, which is a highly purified omega-3 phospholipid concentrate, derived from krill oil. It is a potentially best-in-class cardiovascular drug, administered for the treatment of hypertriglyceridemia, a chronic condition affecting about one-third of the US population, according to the Company.

Acasti Pharma stated that it intends to initially develop and commercialize CaPre for the 3 to 4 million patients in the US with severe hypertriglyceridemia. The Company, which was founded back in 2008, has been focused on developing an effective, well-absorbing and safe omega-3 therapeutic, that can help cure multiple cardiovascular diseases by making a positive impact on the major blood lipids associated with the disease.

Company Growth Prospects

On November 13, 2017, Acasti Pharma reported its Q2 FY18 results for the quarter ended September 30, 2017, where the Company stated that it obtained important confirmation from the US FDA on its Chemistry, Manufacturing, and Controls (CMC) plan and on the clinical trial design supporting its Phase-3 program to evaluate CaPre in patients with severe hypertriglycerdemia.

Moreover, in parallel with the clinical trial planning, several lots of CaPre were manufactured, enabling the Company to support the activation of Phase-3 clinical trial sites by the end of 2017. Moreover, according to the announcement, Acasti Pharma was working with one of the industry's largest global clinical research organization to prepare for site activation and to conduct the Phase-3 trials for CaPre.

Prior to the announcement, on November 20, 2017, Acasti Pharma announced that it entered into a non-binding term sheet with a leading China-based pharmaceutical Company, where the agreement once signed, would grant the latter an exclusive license to commercialize CaPre in Asian nations, including China.

Stock Performance Snapshot

December 29, 2018 - At Friday's closing bell, Acasti Pharma's stock slightly dropped 0.10%, ending the trading session at $0.94.

Volume traded for the day: 111.85 thousand shares.

After last Friday's close, Acasti Pharma's market cap was at $13.86 million.

The stock is part of the Healthcare sector, categorized under the Biotechnology industry.

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