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Aridis Pharmaceuticals (OTC: ARDS) provided a corporate update highlighting significant developments. The company has executed an Asset Acquisition Terms Agreement for AR-501, expecting payments totaling $6.5 million in Q1 and Q2 2025, plus 12-15% royalties on future sales. For AR-301, they received an investment proposal from a global private investment firm to complete the final Phase 3 study, with details expected in Q1 2025.
The company has reduced operational costs by delaying SEC filings and was transitioned to the OTC Expert Market. AR-501's Phase 1 and 2a trials showed positive safety results in CF patients. AR-301's first Phase 3 trial showed promising results, particularly in patients over 65. The AR-320 program faces challenges due to an unresolved licensing dispute with MedImmune.
Aridis Pharmaceuticals (OTC: ARDS) provided a corporate update on June 24, 2024, detailing recent developments. The company is in talks with pharmaceutical firms and investors for partnerships and funding to advance its major clinical product candidates: AR-301, AR-320, AR-501, and the APEX platform. AR-301 showed promising results in elderly patients in its Phase 3 trial, despite reduced enrollment due to COVID-19. AR-320's Phase 3 trial for pneumonia prevention is on hold due to a licensing dispute with MedImmune. AR-501 met primary and secondary endpoints in its Phase 2 trial for cystic fibrosis patients. The company has reduced expenses and aims to finalize business objectives and SEC filings soon.
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