Aridis Pharmaceuticals Inc (ARDS)

[jedijazz]

First Quarter Highlights

*Announced the addition of a second inhaled monoclonal antibody ("mAb") to neutralize newly emerging COVID-19 mutated variant to form a cocktail of two mAbs. The expansion of COVID virus strain coverage, combined with the product's self-administered, at-home treatment modality, further differentiates the company's AR-712 COVID treatment offering. A clinical Phase 1/2 study is expected to be launched in 2H 2021.

*Announced the preclinical development services support of the company's COVID mAb program from NIAID and the Coronavirus Immunotherapy Consortium (CoVIC).

*Licensed the CRISPR gene editing technology from the Broad Institute of MIT and Harvard. CRISPR is a component of the ?PEXTM mAb discovery and production platform technology.

*Entered into a ?PEX out-licensing and product discovery agreement with Kermode Biotechnologies, Inc. on vaccines and mAbs for zoonotic viruses, which are animal viruses that have the ability to infect humans and potentially lead to a viral pandemic.

*Continued enrolling global Phase 3 clinical trial of AR-301 in patients with ventilator associated pneumonia (VAP) including patients who presented with S. aureus VAP as a secondary infection to COVID-19. Interim futility analysis is expected in 2H 2021 and top-line data expected in 1H 2022.

*Executed a registered direct offering with gross proceeds of approximately $8.5 million in the fourth quarter of 2020 and approximately $7.0 million in March 2021.

"As the pandemic has raged on this past year, with the virus evolving into more transmissible and lethal variants, we have been able to adapt our mAb offering to expand strain coverage to all key SARS-COV-2 variants," commented Vu Truong, Ph.D., Chief Executive Officer of Aridis Pharmaceuticals. "We also continued to optimize our versatile ?PEX mAb discovery platform technology and entered into a partnership to develop mAbs and vaccines for viruses with pandemic potential", continued Truong. "We expect to maintain a high pace of execution and to position the company for an outstanding 2021."