Aratana Therapeutics Announces Positive Pivotal Results for AT-002
Commercialization Anticipated in 2016
KANSAS CITY, Kan., June 26, 2015 /PRNewswire/ -- Aratana Therapeutics, Inc. (NASDAQ: PETX), a pet therapeutics company focused on the licensing, development and commercialization of innovative biopharmaceutical products for companion animals, today announced positive results from its pivotal field effectiveness study of capromorelin (AT-002), the company's innovative therapeutic for appetite stimulation in dogs. Capromorelin is a small molecule that mimics ghrelin, the naturally occurring hormone that stimulates appetite, increases body weight and increases serum growth hormone levels.
In the pivotal field effectiveness study, dogs receiving a 3 mg/kg daily oral dose of capromorelin for four days demonstrated statistically significant increases in appetite compared to placebo (p<0.05). The study was a randomized, masked, placebo controlled multi-site study that enrolled over 200 inappetent dogs. Appetite was assessed with an owner questionnaire comparing appetite at baseline to appetite after four days of treatment.
Ernst Heinen, DVM, Ph.D., Chief Development Officer for Aratana Therapeutics, stated, "The results from the pivotal field study demonstrate that capromorelin clearly stimulated appetite in client-owned dogs. We believe it could be a first-in-class approved drug for treating inappetence in dogs."
The positive data from the pivotal field effectiveness study adds to the robust safety and efficacy data that has been generated in prior studies of capromorelin in dogs.
The pivotal field effectiveness study data are the final piece of the Effectiveness Technical Section that Aratana plans to submit to the Food and Drug Administration's Center for Veterinary Medicine as the Company pursues marketing approval for capromorelin. Based on current timelines for the FDA approval process, Aratana anticipates commencing commercialization of capromorelin for treatment of inappetence in dogs in 2016.
About Aratana Therapeutics
Aratana Therapeutics is a pet therapeutics company focused on licensing, developing and commercializing innovative biopharmaceutical products for companion animals. Aratana believes that it can leverage the investment in the human biopharmaceutical industry to bring therapeutics to pets in a capital and time efficient manner. The company's pipeline includes therapeutic candidates targeting pain, inappetence, cancer, viral diseases, allergy and other serious medical conditions. Aratana believes the development and commercialization of these therapeutics will permit veterinarians and pet owners to manage pets' medical needs safely and effectively, resulting in longer and improved quality of life for pets. For more information, please visit www.aratana.com.
Forward-Looking Statements Disclaimer
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements with respect to capromorelin, including without limitation next steps in its continued development, commercialization plans and our belief that capromorelin is an innovative compound; the Company's plans and opportunities, including without limitation offering innovative therapeutics; bringing therapeutics to pets in a capital and time efficient manner, and the Company's belief that its products and product candidates will result in improved outcomes for pets.
These forward-looking statements are based on management's current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: our history of operating losses and expectations of losses for the foreseeable future; failure to obtain sufficient capital to fund our operations; our substantial dependence on the success of certain of our product candidates; our dependence on novel technologies and compliance with complex regulatory requirements; our inability to obtain regulatory approval for our existing or future product candidates; the lack of commercial success of our current or future product candidates; our inability to realize all of the anticipated benefits of our acquisitions and difficulty integrating acquired businesses; the uncertainty of outcomes of the development of pet therapeutics, which is a lengthy and expensive process; effects of competition; our inability to identify, license, develop and commercialize additional product candidates; our failure to attract and keep senior management and key scientific personnel; our reliance on third-party manufacturers, suppliers, and partners; regulatory restrictions on the marketing of our product candidates; unanticipated difficulties or challenges in the relatively new field of biologics development and manufacturing; our small commercial organization; difficulties managing the growth of our organization; our significant costs of operating as a public company; risks related to the restatement of our financial statements for the year ended December 31, 2013 and the identification of a material weakness in our internal control over financial reporting; changes in distribution channels for pet therapeutics; consolidation of our customers; limitations on our ability to use our net operating carryforwards; impact of generic products; unanticipated safety or efficacy concerns; our limited patents and patent rights; our failure to comply with our intellectual property license obligations; our infringement of third party patents and challenges to our patents or rights; litigation resulting from the misuse of our confidential information; the uncertainty of the regulatory approval process; our failure to comply with regulatory requirements or obtain foreign regulatory approvals; our failure to report adverse medical events related to our products; legislative or regulatory changes; the volatility of our stock price; our status as an "emerging growth company," as defined in the JOBS Act; the potential for dilution if we sell shares of our common stock in future financings; the influence of significant stockholders over our business; and effects of anti-takeover provisions in our charter documents and under Delaware law. These and other important factors discussed under the caption "Risk Factors" in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission, or SEC, on March 16, 2015, along with our other reports filed with the SEC could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management's estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.
SOURCE Aratana Therapeutics, Inc.