Benzinga | Sep 22, 2021 08:33AM EDT

Acasti Pharma Provides Update Following Acquisition Of Grace Therapeutics; Regains Compliance with Nasdaq Listing Standards

Acasti Pharma Inc. ("Acasti" or the "Company") (NASDAQ:ACST, TSXV:ACST), today provided a business update and announced that the Nasdaq Stock Market ("Nasdaq") has confirmed to Acasti that the Company has regained compliance with Nasdaq's minimum bid price requirement.



Jan D'Alvise, President and Chief Executive Officer of Acasti Pharma, commented, "We are pleased to have regained compliance with the listing requirements for Nasdaq, and are laser focused on the integration of Grace Therapeutics, which is progressing seamlessly. We could not be more excited by the outlook for the business and are working aggressively to advance our clinical pipeline of late-stage drug candidates focused on rare diseases that address significant markets with unmet medical needs. We believe our approach of customizing the formulation of marketed drugs in new ways--backed by more than 40 granted and patents pending in various jurisdictions--significantly de-risks our clinical programs. Specifically, these drug candidates are designed to achieve faster onset of action, enhanced efficacy, reduced side effects, and more convenient drug delivery. Our confidence is further reinforced by the fact that all three of our lead programs have received Orphan Drug Designation from the U.S. Food & Drug Administration, which offers a number of regulatory, cost and timing benefits. We look forward to providing continual updates on our clinical and regulatory progress in the weeks and months ahead."