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ASLAN Pharmaceuticals (Nasdaq: ASLN) announced a public offering of 15 million American Depositary Shares (ADSs) at $4.00 per ADS, aiming for gross proceeds of $60 million. The offering is set to close around March 5, 2021, subject to customary conditions. Funds will primarily support the ASLAN004 Phase 2b trial for atopic dermatitis and repay $2.25 million in loans. Jefferies LLC and Piper Sandler & Co. are leading the offering. The company is focused on developing treatments for immunological conditions.
ASLAN Pharmaceuticals (Nasdaq: ASLN) has announced a $60 million underwritten public offering of its American Depositary Shares (ADSs) representing ordinary shares. The offering may increase by an additional $9 million if underwriters exercise their option. Proceeds will primarily fund the ASLAN004 Phase 2b trial for moderate-to-severe atopic dermatitis and repay $2.25 million in loan obligations. The offering is subject to market conditions, and details will be filed with the SEC.
ASLAN Pharmaceuticals (Nasdaq: ASLN) released positive interim data from a Phase 1 study of ASLAN004, a potential first-in-class antibody targeting IL-13R for treating atopic dermatitis. After 8 weeks, patients on therapeutic doses saw a 74% average reduction in Eczema Area Severity Index (EASI), with 89% achieving EASI-50 and 56% achieving EASI-90. The drug was well tolerated, with no treatment-related discontinuations. ASLAN plans to initiate a global Phase 2b study later this year. A conference call to discuss results is scheduled for today, March 1, 2021.
ASLAN Pharmaceuticals (Nasdaq: ASLN) has announced a securities purchase agreement to raise approximately $18 million through a private placement of its ordinary shares to institutional investors, including Vivo Capital and Surveyor Capital. The deal involves the issuance of 25,568,180 ordinary shares at $3.52 per share, equating to the last closing price. The funds will primarily advance clinical development of ASLAN004 for atopic dermatitis and support general corporate purposes. The closing is expected on February 25, 2021.
ASLAN Pharmaceuticals (Nasdaq:ASLN) has appointed Dr. Neil Graham as an independent director, effective February 18, 2021. With over 30 years of experience in immunology and inflammation, Dr. Graham previously served at Regeneron Pharmaceuticals, where he led significant product development efforts. Concurrently, Jun Wu and Kelvin Sun are stepping down from the board due to the end of investment cycles and the company's delisting from the Taipei Exchange. Chairman Andrew Howden expressed confidence that Dr. Graham's expertise will greatly benefit ASLAN as it progresses with key clinical developments.
ASLAN Pharmaceuticals announced the development of ASLAN003, its potent oral inhibitor of dihydroorotate dehydrogenase (DHODH) for autoimmune diseases, including multiple sclerosis (MS). ASLAN003 exhibits over 30 times more potency than teriflunomide. The company has appointed Professor Gavin Giovannoni as a scientific advisor to guide clinical strategies. Additionally, ASLAN003 shows nanomolar potency against SARS-CoV-2, being evaluated for COVID-19 treatment as well. The drug's favorable safety profile and efficacy in preclinical studies make it a promising candidate for long-term therapy.
ASLAN Pharmaceuticals (Nasdaq: ASLN) announced the opening of new clinical trial sites in the US and Australia for its ASLAN004 study, focused on treating moderate to severe atopic dermatitis. Recruitment has restarted in Singapore, where all 8 patients in the second cohort are enrolled. ASLAN004, a first-in-class monoclonal antibody, works by blocking IL-4 and IL-13 cytokines linked to the condition. The company anticipates reporting interim data from all cohorts in Q4 2020.
ASLAN Pharmaceuticals (Nasdaq: ASLN) announced its participation in the H.C. Wainwright 22nd Annual Global Investment Conference, where CEO Dr. Carl Firth will present on September 16, 2020, at 9:00 AM EDT. The virtual event runs from September 14-16, 2020. Interested investors can access the presentation deck on the company's website post-event. ASLAN is focused on developing innovative therapies in immunology and oncology, with a clinical portfolio that includes ASLAN004 for atopic dermatitis.
ASLAN Pharmaceuticals (Nasdaq: ASLN, TPEx: 6497) has resumed patient recruitment for its ASLAN004 clinical trial in moderate to severe atopic dermatitis after a pause due to COVID-19 restrictions. The study, which is randomized and double-blind, is currently enrolling participants in Singapore and plans to open additional sites in Australia and the US to enhance recruitment speed. Interim data from the trial's three dose cohorts is anticipated in Q4 2020.