Lainate, Italy – 18 June 2020 – Cassiopea SpA (SIX: SKIN), a specialty pharmaceutical company developing and preparing to commercialize prescription drugs with novel mechanisms of action (MOA) to address long-standing and essential dermatological conditions, today announces that SIX has informed it that trading of Cassiopea shares is suspended pending completion of administrative procedures in conjunction with the Italian authorities and SIX in relation to the registration of the newly created shares.
SIX has indicated that trading will resume as quickly as possible.
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For further information:
Dr. Chris Tanner, CFO and Head of Investor Relations
Tel: +39 02 868 91 12
Cassiopea is a specialty pharmaceutical company developing and preparing to commercialize prescription drugs with novel mechanisms of action to address long-standing and essential dermatological conditions, particularly acne, androgenetic alopecia and genital warts. Cassiopea is investing in innovation that is driving scientific advancement in areas that have been largely ignored for decades. The portfolio comprises four unencumbered clinical candidates, for which Cassiopea owns the worldwide rights. Cassiopea plans to determine the most efficient way to effectively commercialize the products in the U.S. after the planned approval of Clascoterone Cream 1% and to partner the products for countries outside of the US. For further information on Cassiopea, please visit www.cassiopea.com.
Clascoterone, a new chemical entity, is a proposed first in class topical androgen receptor inhibitor under FDA review for the treatment of acne (in a 1% cream) and in late stage development for androgenetic alopecia (in a higher strength solution). Laboratory studies suggest Clascoterone competes with androgens, specifically DHT, for binding to the androgen receptors within the sebaceous gland and hair follicles. When applied directly to the skin surface, Clascoterone appears to target only local androgen receptors within the skin. Because of Clascoterone’s likely local effect at the site of application, the risk of off-target, or systemic side effects, is minimized.