Market Newsdesk

SANTA MONICA, Calif., Sept. 27, 2023 (GLOBE NEWSWIRE) — Super League (Nasdaq: SLE) (“Super League” or the “Company”), a global leader in providing immersive experiences across the world’s largest metaverse gaming platforms, today announced that on September 25, 2023, the Company received a written notice from The Nasdaq Stock Market (”Nasdaq”) informing Super League that it has regained compliance with the minimum bid price requirement under NASDAQ Listing Rule 5550(a)(2) (the “Rule”) for continued listing on the Nasdaq Capital Market.

On October 4, 2022, Super League was notified by Nasdaq that it was not in compliance with the minimum bid price rule because its common stock failed to meet the closing bid price of $1.00 or more for 30 consecutive business days. To regain compliance with the Rule, the Company’s common shares were required to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive business days. This requirement was met on September 22, 2023.

ABOUT SUPER LEAGUE

Super League (Nasdaq: SLE) is a leading strategically-integrated publisher and creator of games and experiences across the world’s largest immersive digital platforms. From metaverse gaming powerhouses such as Roblox, Minecraft and Fortnite, to the most popular Web3 environments such as Sandbox and Decentraland, to bespoke worlds built using the most advanced 3D creation tools, Super League’s innovative solutions provide incomparable access to massive audiences who gather in immersive digital spaces to socialize, play, explore, collaborate, shop, learn and create. As a true end-to-end activation partner for dozens of global brands, Super League offers a complete range of development, distribution, monetization and optimization capabilities designed to engage users through dynamic, energized programs. As an originator of new experiences fueled by a network of top developers, a comprehensive set of proprietary creator tools and a future-forward team of creative professionals, Super League accelerates IP and audience success within the fastest growing sector of the media industry. For more, go to superleague.com.

FORWARD LOOKING STATEMENTS

Certain information contained in this press release includes “forward-looking statements”, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We may, in some cases use terms such as “predicts,” “believes,” “potential,” “continue,” “anticipates,” “estimates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “likely,” “will,” “should” or other words that convey uncertainty of the future events or outcomes to identify these forward-looking statements. Our forward-looking statements are based on current beliefs and expectations of our management team that involve risks, potential changes in circumstances, assumptions, and uncertainties, including our expectations regarding our ability to maintain compliance with the Nasdaq continued listing requirements, and our financial condition, growth and strategies. Any or all of the forward-looking statements may turn out to be wrong or be affected by inaccurate assumptions we might make or by known or unknown risks and uncertainties. These forward-looking statements are subject to risks and uncertainties including risks related to our ability to regain compliance with Nasdaq’s listing requirements, the potential de-listing of our shares on Nasdaq, our strategy, business plans and focus, and the other risks set forth in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. For all these reasons, actual results and developments could be materially different from those expressed in or implied by our forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which are made only as of the date of this press release. We undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstance.

Investor Relations Contact:

Shannon Devine/ Mark Schwalenberg
MZ North America
[email protected]

CONTACT

For Super League
Gillian Sheldon
[email protected]

• Industry veteran with deep commercial experience in dermatology and immunology
• Ayisha Jeter appointed Senior Vice President, Marketing and Market Access

WESTLAKE VILLAGE, Calif., Sept. 27, 2023 (GLOBE NEWSWIRE) — Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT), an early commercial-stage biopharmaceutical company focused on developing meaningful innovations in immuno-dermatology, today announced the appointment of Todd Edwards as Chief Commercial Officer (CCO), effective immediately. Mr. Edwards brings to Arcutis over 25 years of sales, market access, marketing, and general management experience from leading companies in dermatology and immunology, including Incyte, UCB, and AbbVie.

“We are truly delighted that Todd is joining Arcutis to take over the leadership of our commercial organization,” said Frank Watanabe, President and CEO of Arcutis. “Over many years, he has developed a deep understanding of what is needed to be commercially successful in dermatology, and his proven track record of successfully commercializing both topical and systemic therapies will be critical in light of our ongoing launch of ZORYVE cream in plaque psoriasis. In addition, we are excited about the impact he will have for topical roflumilast and the expected FDA approvals in other serious skin conditions including seborrheic dermatitis and atopic dermatitis.”

“I am excited to join the Arcutis team and contribute to their efforts in developing and bringing meaningful innovations in immuno-dermatology to market while ensuring responsible pricing and broad accessibility to the individuals who need them,” said Mr. Edwards. “I look forward to working with the Commercial team to accelerate the momentum behind the launch of ZORYVE in plaque psoriasis, and preparing for potential future indications, while advancing Arcutis’ unique company culture focused on challenging the existing standard of care to address unmet needs in the treatment of immune-mediated skin diseases.”

Mr. Edwards joins Arcutis from Incyte, where he was group vice president and business unit head for their immunology business, and led the successful launch and commercialization of their topical JAK inhibitor for atopic dermatitis. Previously, Mr. Edwards was head of US immunology and later head of global immunology operations and strategy for UCB, where he was instrumental in leading commercialization of their dermatology, rheumatology, and gastroenterology portfolios. Prior to that, he held senior roles at AbbVie and TAP Pharmaceuticals. Over the past 25 years, Mr. Edwards has held a wide range of commercial positions of increasing responsibility, spanning sales and sales management, access and reimbursement, marketing, and general management. He is also a decorated veteran of the US Army.

The Company also announced that Ayisha Jeter, Vice President of Market Access, and interim CCO prior to this announcement, has been promoted to Senior Vice President, Marketing and Market Access, and will assume leadership of all marketing and market access at the Company, reporting directly to Mr. Edwards. In her new role, Ms. Jeter will be a member of the Company’s executive leadership team.

“I want to thank Ayisha for the fabulous job she has done as our interim CCO over the last several months as we conducted our search for a permanent CCO,” said Mr. Watanabe. “She brought great leadership and professionalism to the position, and helped us to smoothly navigate the transition of commercial management. This promotion is recognition of her outstanding commercial acumen and leadership.”

About ZORYVE

^®


ZORYVE (roflumilast) cream 0.3% is indicated for topical treatment of plaque psoriasis, including intertriginous areas, in patients 12 years of age and older.

IMPORTANT SAFETY INFORMATION

The use of ZORYVE is contraindicated in patients with moderate to severe liver impairment (Child-Pugh B or C).

The most common adverse reactions (≥1%) include diarrhea (3.1%), headache (2.4%), insomnia (1.4%), nausea (1.2%), application site pain (1.0%), upper respiratory tract infection (1.0%), and urinary tract infection (1.0%).

Please see full Prescribing Information.

About Arcutis

Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT) is an early commercial-stage medical dermatology company that champions meaningful innovation to address the urgent needs of individuals living with immune-mediated dermatological diseases and conditions. With a commitment to solving the most persistent patient challenges in dermatology, Arcutis has a growing portfolio that harnesses our unique dermatology development platform coupled with our dermatology expertise to build differentiated therapies against biologically validated targets. Arcutis’ dermatology development platform includes a robust pipeline with multiple clinical programs for a range of inflammatory dermatological conditions including scalp and body psoriasis, atopic dermatitis, seborrheic dermatitis, and alopecia areata. For more information, visit www.arcutis.com or follow Arcutis on LinkedIn, Facebook, and X.

Forward-Looking Statements

Arcutis cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on the Company’s current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding the potential for ZORYVE to simplify disease management for care of plaque psoriasis as well as the commercial launch of ZORYVE in plaque psoriasis, and the potential FDA regulatory approvals for topical roflumilast in seborrheic dermatitis, atopic dermatitis and scalp and body psoriasis. These statements are subject to substantial known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from the information expressed or implied by these forward-looking statements. Risks and uncertainties that may cause our actual results to differ include risks inherent in our business, reimbursement and access to our products, the impact of competition and other important factors discussed in the “Risk Factors” section of our Form 10-K filed with U.S. Securities and Exchange Commission (SEC) on February 28, 2023, as well as any subsequent filings with the SEC. You should not place undue reliance on any forward-looking statements in this press release. We undertake no obligation to revise or update information herein to reflect events or circumstances in the future, even if new information becomes available. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contacts:



Media



Amanda Sheldon, Head of Corporate Communications
[email protected]

Investors



Eric McIntyre, Head of Investor Relations
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/aaa7ad47-df63-4ba8-9afb-4d60596062e7

FREEHOLD, NJ, Sept. 27, 2023 (GLOBE NEWSWIRE) — UMH Properties, Inc. (NYSE:UMH) (TASE:UMH), a real estate investment trust (REIT) specializing in manufactured home communities, announced that it will host its Third Quarter 2023 Financial Results Webcast and Conference Call. Senior management will discuss the results, current market conditions and future outlook on Thursday, November 9, 2023, at 10:00 a.m. Eastern Time.

UMH’s Third Quarter 2023 results will be released on Wednesday, November 8, 2023, after the close of trading on the New York Stock Exchange and will be available on the Company’s website at www.umh.reit, in the Financials section.

To participate in the webcast, select the webcast icon on the homepage of the Company’s website at www.umh.reit, in the Upcoming Events section. Interested parties can also participate via conference call by calling toll free 877-513-1898 (domestically) or 412-902-4147 (internationally).

The replay of the conference call will be available at 12:00 p.m. Eastern Time on Thursday, November 9, 2023, and can be accessed by dialing toll free 877-344-7529 (domestically) and 412-317-0088 (internationally) and entering the passcode 5082598. A transcript of the call and the webcast replay will be available at the Company’s website, www.umh.reit.

UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 135 manufactured home communities containing approximately 25,700 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina and Georgia. UMH also has an ownership interest in and operates two communities in Florida, containing 363 sites, through its joint venture with Nuveen Real Estate.

Contact:
Nelli Madden

732-577-4062

# # # # #

LEESBURG, VA, Sept. 27, 2023 (GLOBE NEWSWIRE) — Quantum Computing Inc. (“QCi” or the “Company”) (Nasdaq: QUBT), an innovative, quantum optics and nanophotonics technology company, will present at the 8th Annual Dawson James Conference on Thursday, October 12^th, 2023, at the Wyndam Grand Jupiter at Harbourside Place, in Jupiter, Florida. To view the webcast of this presentation click this link.

QCi CEO and CFO will conduct in-person one-on-one meetings throughout the conference and deliver the Company’s presentation as shown below.

8th Annual Dawson James Conference

When: Thursday, October 12^th, 2023
Time:  10:30 a.m. – Preserve Ballroom B
Wyndam Grand Jupiter at Harbourside Place, in Jupiter, Florida

About Quantum Computing Inc.

Quantum Computing Inc. (QCi) (Nasdaq: QUBT) is an innovative, quantum optics and nanophotonics technology company on a mission to accelerate the value of quantum computing for real-world business solutions, delivering the future of quantum computing, today. The company provides accessible and affordable solutions with real-world industrial applications, using nanophotonic-based quantum entropy that can be used anywhere and with little to no training, operates at normal room temperatures, low power and is not burdened with unique environmental requirements. QCi is competitively advantaged delivering its quantum solutions at greater speed, accuracy, and security at less cost. QCi’s core nanophotonic-based technology is applicable to both quantum computing as well as quantum intelligence, cybersecurity, sensing and imaging solutions, providing QCi with a unique position in the marketplace. QCi’s core entropy computing capability, the Dirac series, delivers solutions for both binary and integer-based optimization problems using over 11,000 qubits for binary problems and over 1000 (n=64) qubits for integer-based problems, each of which are the highest number of variables and problem size available in quantum computing today. Using the Company’s core quantum methodologies, QCi has developed specific quantum applications for AI, cybersecurity, and remote sensing, including its Reservoir Photonic Computer series (intelligence), reprogrammable and non-repeatable Quantum Random Number Generator (cybersecurity) and LiDAR and Vibrometer (sensing) products.  For more information about QCi, visit www.quantumcomputinginc.com.

About Quantum Innovative Solutions

Quantum Innovative Solutions (QI Solutions or QIS), a wholly owned subsidiary of Quantum Computing Inc., is an Arizona-based supplier of quantum technology solutions and services to the government and defense industries. With a team of qualified and cleared staff, QIS delivers a range of solutions from entropy quantum computing to quantum communications and sensing, backed by expertise in logistics, manufacturing, R&D and training. The company is exclusively focused on delivering tailored solutions for partners in various government departments and agencies.

About Dawson James 

Dawson James Securities specializes in capital raising for small and microcap public and private growth companies primarily in the Life Science/Health Care, Technology, Clean tech, and Consumer sectors. We are a full-service investment banking firm with research, institutional and retail sales, and execution trading and corporate services. By investing the time required to completely understand your business, we can provide an appropriate capital transaction structure and strategy including direct investment through our independent fund. Our team will assist in crafting your vision and shaping your message for the capital markets.  Headquartered in Boca Raton, FL, Dawson James is privately held with offices in New York, Maryland, and New Jersey. www.dawsonjames.com

QCi Media and Investor Contact

Jessica Tocco, CEO
A10 Associates 
Tel: 765-210-0875
[email protected]

SAN DIEGO, Sept. 27, 2023 (GLOBE NEWSWIRE) — Cidara Therapeutics, Inc. (Nasdaq: CDTX), a biotechnology company using its proprietary Cloudbreak^® platform to develop drug-Fc conjugate (DFC) immunotherapies designed to save lives and improve the standard of care for patients facing serious diseases, today announced that it will present new data on its drug-Fc conjugate (DFC) candidate, CD388, in an oral presentation and two poster presentations at IDWeek 2023. The conference will take place both in-person at the Boston Convention and Exhibition Center in Boston, MA and virtually from October 11 – 15, 2023.

CD388 is being developed for the universal protection of influenza A and B under an exclusive worldwide collaboration agreement with Janssen Pharmaceuticals, Inc. (Janssen), a Johnson & Johnson company. Janssen recently delivered its Election to Proceed Notice for CD388 with the intent to transfer its rights and obligations to another entity.

Presentation details are summarized below:

Title: In Vivo Efficacy of CD388, a Novel Drug Fc-Conjugate (DFC), Against Seasonal Subtypes of Influenza in Prophylaxis in Immune Competent Mice, and in a Severe Immunodeficient (SCID) Mouse Model
Presenter: James Levin, Ph.D., Cidara Therapeutics
Session Title: Experimental Therapeutics
Session Location: 102 AB
Date and Time: October 14, 2023, 10:30AM – 11:45 AM ET

Title: Single Ascending Dose Safety, Tolerability, and Pharmacokinetics of Subcutaneous and Intramuscular CD388, a Novel Long-acting Drug-Fc Conjugate for Universal Prevention of Seasonal and Pandemic Influenza
Presenter: Shawn Flanagan, Ph.D., Cidara Therapeutics
Session Title: New Antimicrobial Drug Development
Session Location: Hall B&C
Date and Time: October 14, 2023, 12:15– 1:30 PM ET

Title: Efficacy of CD388, a Novel Drug Fc-Conjugate (DFC), is Driven by the Small Molecule Neuraminidase Inhibitor (NAI)
Presenter:  James Levin, Ph.D., Cidara Therapeutics
Session Title: Antimicrobial Novel Agents
Session Location: Hall B&C
Date and Time:  October 14, 2023, 12:15PM – 1:30PM ET

IDWeek is the joint annual meeting of the Infectious Diseases Society of America (IDSA), Society for Healthcare Epidemiology of America (SHEA), the HIV Medicine Association (HIVMA), the Pediatric Infectious Diseases Society (PIDS), and the Society of Infectious Diseases Pharmacists (SIDP).

About Cidara Therapeutics
Cidara Therapeutics is using its proprietary Cloudbreak® platform to develop novel drug-Fc conjugates (DFCs). These targeted immunotherapies offer the unique opportunity to create “single molecule cocktails” comprised of targeted small molecules and peptides coupled to a human antibody fragment (Fc). DFCs are designed to save lives and improve the standard of care for patients facing cancers and other serious diseases by inhibiting specific disease targets while simultaneously engaging the immune system. In addition, Cidara received FDA approval for REZZAYO™ (rezafungin for injection), which it has licensed to multiple partners to commercialize in the U.S. and ex-U.S. Cidara is headquartered in San Diego, California. For more information, please visit www.cidara.com.

Forward-Looking Statements

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “anticipates,” “believe,” “could,” “expect,” “may,” “plan” or “will”. Forward-looking statements in this release include, but are not limited to, statements related to whether Janssen will identify another party and consummate an assignment transferring the rights and obligations related to CD388, whether Janssen or an assignee will conduct additional clinical trials of CD388, and whether CD388 will ultimately be proven safe or effective for prevention of influenza infection or any indication. Such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, such as unanticipated delays in or negative results from Cidara’s preclinical or clinical trials, delays in action by regulatory authorities due to limitations on inspections and other COVID-19-related effects, and impacts of the COVID-19 pandemic or other obstacles on the enrollment of patients or other aspects of CD388 development. These and other risks are identified under the caption “Risk Factors” in Cidara’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, and other filings subsequently made with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management’s assumptions and estimates as of such date. Cidara does not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise.

INVESTOR CONTACT:

Brian Ritchie
LifeSci Advisors
(212) 915-2578
[email protected]

MEDIA CONTACT:

Veronica Eames
LifeSci Communications
(646) 970-4682
[email protected]

WEST CHESTER, Pa., Sept. 27, 2023 (GLOBE NEWSWIRE) — Verrica Pharmaceuticals Inc. (“Verrica” or “the Company”) (Nasdaq: VRCA), a dermatology therapeutics company developing medications for skin diseases requiring medical interventions, today announced that it will host a virtual KOL event discussing the approval of YCANTH™ (cantharidin) topical solution for the treatment of molluscum contagiosum on Wednesday, October 11, 2023 at 11:00 AM ET. To register, click here.

The event will feature Mark Kaufmann, MD (Advanced Dermatology, Miami), Michael Cameron, MD (Cameron Dermatology; Department of Dermatology, Mount Sinai, NY), and Mercedes Gonzalez, MD (Pediatric Dermatology of Miami) who will discuss the unmet medical need for patients suffering from molluscum contagiosum (molluscum), a highly contagious viral skin disease that affects approximately six million people — primarily children — in the United States.

The event will focus on the recent approval of YCANTH™ as the only product approved by the FDA to treat molluscum in adult and pediatric patients two years of age and older. Molluscum is caused by a pox virus that produces distinctive raised, skin-toned-to-pink-colored lesions that can cause pain, inflammation, itching and bacterial infection. It is easily transmitted through direct skin-to-skin contact or through fomites and can spread to other parts of the body or to other people, including siblings. Without treatment, molluscum can last for an average of 13 months, and in some cases, up to five years.

A live question and answer session will follow the formal presentation.

About Mark Kaufmann, MD

Dr. Kaufmann is Chief Medical Officer of Advanced Dermatology and Cosmetic Surgery, which is a premier dermatology and cosmetic surgery practices with 160+ locations in the U.S. He is also an Associate Clinical Professor in the Department of Dermatology at the Icahn School of Medicine at Mount Sinai in New York City, a position he has held since 1995. He was in solo private practice for 23 years until he joined The Dermatology Group in November 2017. In September 2020, he joined Advanced Dermatology and Cosmetic Surgery as their Chief Medical Officer. He received his medical degree from New York University School of Medicine, completing residency training in dermatology at the Albert Einstein College of Medicine in the Bronx, New York. He is Board Certified in Dermatology. Dr. Kaufmann is a former President of the American Academy of Dermatology (March 2022 until March 2023) and he has also served on the AAD Board of Directors. He has served on countless AAD committees and has chaired many of them as well. He also serves as an advisor to the Academy RUC team (Relative Value Scale Update Committee) – a position he has held for over a decade. Dr. Kaufmann’s contributions to the American Academy of Dermatology have been recognized by his receiving a Presidential Citation in 2013, 2014, 2015, 2017, and 2020. With many articles published on the topic of health information technology, Dr. Kaufmann is a frequent national lecturer, including the annual meetings of the American Academy of Dermatology, and other societies, and grand rounds.
        
About Michael Cameron, MD
Dr. Cameron is the founder of Cameron Dermatology PLLC and an Assistant Clinical Professor in the Department of Dermatology at Mount Sinai in New York City. He is a board-certified dermatologist with expertise in drug development and inflammatory skin diseases with previous experience in the pharmaceutical industry, healthcare consulting, and academic medicine. He is a consultant for various biotech and pharmaceutical companies. Dr. Cameron completed his residency training at Memorial Sloan Kettering Cancer Center and the University of Colorado. Prior to residency training, he received his undergraduate degree from Duke University and his medical degree from the University of South Florida. He has expertise in the treatment of eczema, psoriasis, alopecia areata and other types of hair loss, vitiligo, acne, and skin cancer. He is co-author of more than 20 publications in peer-reviewed medical journals and 2 dermatology textbook chapters. He has also presented his research at various medical conferences.
        
About Mercedes Gonzalez, MD
Dr. Gonzalez is the founder of Pediatric Dermatology of Miami. Dr. Gonzalez began practicing pediatric dermatology in 2013 and opened her own practice in 2014. In addition to taking care of children with skin, hair, and nail problems, Dr. Gonzalez is actively involved in educating and training the next generation of pediatric dermatologists. She currently serves as a clinical assistant professor of dermatology at the Florida International University Herbert Wertheim College of Medicine and also serves as a faculty advisor for the dermatology interest group at the University of Miami Miller School of Medicine. Dr. Gonzalez has published over 30 journal articles, contributed to multiple dermatology textbooks, and spoken at numerous dermatology conferences. She is also the co-editor of the upcoming 4th edition of “Goodheart’s Photoguide to Common Skin Disorders,” a picture-based dermatology textbook. In addition, she is regularly featured on the dermatology show on Sirius XM’s Doctor Radio channel and on FIU’s “A Tu Salud” radio program on Radio Mambi (AM 710, Miami, FL).

About YCANTH™ (formerly VP-102)

YCANTH™ is a proprietary drug-device combination product that contains a GMP-controlled formulation of cantharidin delivered via a single-use applicator that allows for precise topical dosing and targeted administration for the treatment of molluscum. YCANTH™ is the only product approved by the FDA to treat molluscum — a common, highly contagious skin disease that affects an estimated six million people in the United States, primarily children. Please visit YCANTHPro.com for additional information.

In addition, Verrica has successfully completed a Phase 2 study of VP-102 for the treatment of common warts and a Phase 2 study of VP-102 for the treatment of external genital warts.

YCANTH™ should only be administered by a trained healthcare professional. YCANTH™ is not for home use.

Indication

YCANTH (cantharidin) topical solution, 0.7% is indicated for the topical treatment of molluscum contagiosum in adult and pediatric patients 2 years of age and older.

Important Safety Information

CONTRAINDICATIONS:

None.

WARNINGS AND PRECAUTIONS:

• YCANTH is for topical use only. YCANTH is not for oral, mucosal, or ophthalmic use. Life threatening or fatal toxicities can occur if YCANTH is administered orally. Avoid contact with the treatment area, including oral contact, after treatment. Ocular toxicity can occur if YCANTH comes in contact with eyes. If YCANTH gets in eyes, flush eyes with water for at least 15 minutes.
• Local Skin Reactions: Reactions at the application site may occur, including vesiculation, pruritus, pain, discoloration, and erythema. Avoid application near eyes and mucosal tissue, and to healthy skin. If YCANTH contacts any unintended surface, or healthy skin, immediately remove. If severe local skin reactions occur, remove prior to the recommended 24 hours after treatment.
• YCANTH is flammable, even after drying. Avoid fire, flame or smoking near lesion(s) during treatment and after application until removed.

ADVERSE REACTIONS:

The most common (incidence ≥1%) reactions are the following local skin reactions at the application site: vesiculation, pain, pruritus, scabbing, erythema, discoloration, application site dryness, edema, and erosion. Local skin reactions at the application site were observed in 97% of subjects treated with YCANTH during clinical trials. These local skin reactions are expected and related to the anticipated blistering response of the skin to cantharidin.

DRUG INTERACTIONS:

No studies evaluating the drug interaction potential of cantharidin have been conducted.

USE IN SPECIFIC POPULATIONS:

Pregnancy: There are no available data with use of YCANTH in pregnant women to evaluate for a drug-associated risk of major birth defects, miscarriage or adverse maternal or fetal outcomes. Given that systemic exposure to cantharidin following topical administration is low, maternal use is not expected to result in fetal exposure to the drug.

Lactation: Avoid application of YCANTH topical solution to areas with increased risk for potential ingestion by or ocular exposure to the breastfeeding child.

OVERDOSAGE:

Oral ingestion of cantharidin has resulted in renal failure, blistering and severe damage to the gastrointestinal tract, coagulopathy, seizures, and flaccid paralysis.

Please see accompanying full Prescribing Information.

To report SUSPECTED ADVERSE REACTIONS, contact Verrica Pharmaceuticals Inc. at 1-877-VERRICA (1-877-837-7422), or FDA at 1-800-FDA-1088 or www.fda.gov/medwatch. Local skin reactions are expected and should be reported if they are severe.

About Verrica Pharmaceuticals Inc. 

Verrica is a dermatology therapeutics company developing medications for skin diseases requiring medical interventions. On July 21, 2023, Verrica’s lead product, YCANTH™ (cantharidin), became the first treatment approved by the FDA to treat pediatric and adult patients with molluscum contagiosum, a highly contagious viral skin infection affecting approximately 6 million people in the United States, primarily children. VP-102 is also in development to treat common warts and external genital warts, two of the largest unmet needs in medical dermatology. Verrica is developing VP-103, its second cantharidin-based product candidate, for the treatment of plantar warts. Verrica has also entered a worldwide license agreement with Lytix Biopharma AS to develop and commercialize VP-315 (formerly LTX-315 and VP-LTX-315) for dermatologic oncology conditions. For more information, visit www.verrica.com.

FOR MORE INFORMATION, PLEASE CONTACT:

Investors:

Terry Kohler 

Chief Financial Officer 
[email protected]

Kevin Gardner 

LifeSci Advisors 
[email protected]

Chris Calabrese 

LifeSci Advisors 
[email protected]

DELAWARE, USA, Sept. 27, 2023 (GLOBE NEWSWIRE) — Mobiv Acquisition Corp (Nasdaq: MOBVU, MOBV, MOBVW) (“Mobiv” or the “Company”), a special purpose acquisition company, today provided a business update regarding the planned merger with SRIVARU Holding Limited, a Cayman Islands exempted company (“SRIVARU”), a commercial-stage provider of premium electric motorcycles.  The Company announces that holders of approximately 5,530,395 of the Company’s Class A Common Stock exercised their right to redeem their shares for a pro-rata portion of the available funds in the Company’s trust account, reflecting redemptions of approximately 97.5% of the total Class A Common Stock outstanding as of the Company’s contractual redemption expiration deadline of 5:00 pm Eastern Time on September 26, 2023 (the “Redemption Expiration Date”).

Following the Redemption Expiration Date, no additional shareholders will have the right to redeem; however, shareholders that have elected to redeem will have the opportunity to reverse their redemption election and participate in the 2.5 million bonus shares pool until approximately 3:00 pm Eastern Time on the day prior to closing.  Shareholders that reverse their redemption will be entitled to receive a pro-rata share of the additional 2,500,000 ordinary shares of the Company, granted in accordance with the amendment to the agreement and plan of merger with SRIVARU, as previously announced on August 9, 2023. In order for public stockholders to receive a pro rata portion of the 2.5 million share pool, public stockholders need to be stockholders as of 3:00 pm Eastern Time, on the day prior to the closing. As of the Redemption Expiration Date, stockholders holding the remaining 142,992 shares of the Company’s Class A Comon Stock would be entitled to a pro rata portion of the 2.5 million shares, equating to approximately 17 shares per 1 unredeemed share, as may be reduced by redemption recissions.

Peter Bilitsch, CEO of Mobiv, stated, “We truly appreciate the support of our shareholders that elected to remain invested in our Company.  We believe this is a testament to their confidence and conviction in the potential of SRIVARU following the planned merger.  Moreover, shareholders that elected to redeem will still have the opportunity until approximately 3:00 pm Eastern Time on the day prior to closing to participate in a pro-rata share of the additional 2.5 million share distribution, by electing to reverse their redemptions.”

“We are more excited than ever about SRIVARU as they continue to execute on all fronts and we believe they are well-positioned to establish a leadership position within the Indian and global premium electric two-wheel markets.  Notably, the global electric two-wheel vehicle market was valued at US$51.22 billion in 2020 alone, with the Asia-Pacific region leading in market share.  SRIVARU’s Prana™ is redefining the premium category as a result of its attractive price point and patented and patent-pending technology, which results in increased safety, stability, and comfort.  Moreover, the vehicle’s integrated charger operates on home electric networks and does not require a specialized charging infrastructure, a key competitive advantage in many markets around the world. We look forward to our shareholder meeting on September 28, 2023, and providing further updates on the planned merger,” concluded Mr. Bilitsch.

About Mobiv Acquisition Corp

The Company is a newly incorporated blank check company organized for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with a target business. The Company may pursue a business combination target in any industry or geographic region and will invest using the lens of the UN Sustainable Development Goals, which reflect social and environmental mega-trends that are re-shaping our world. https://mobiv.ac/.

Forward Looking Statements

This communication may contain a number of “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning Mobiv’s or SRIVARU’s possible or assumed future results of operations, business strategies, debt levels, competitive position, industry environment, potential growth opportunities and the effects of regulation, including whether the Business Combination will generate returns for stockholders or shareholders, respectively. These forward-looking statements are based on Mobiv’s or SRIVARU’s management’s current expectations, estimates, projections and beliefs, as well as a number of assumptions concerning future events. When used in this communication, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements.

These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside SRIVARU’s or Mobiv’s management’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. These risks, uncertainties, assumptions and other important factors include, but are not limited to: (a) the occurrence of any event, change or other circumstances that could give rise to the termination of negotiations and any subsequent definitive agreements with respect to the Business Combination; (b) the outcome of any legal proceedings that may be instituted against Mobiv, SRIVARU or others following the announcement of the Business Combination and any definitive agreements with respect thereto; (c) the inability to complete the Business Combination due to the failure to obtain approval of the stockholders of Mobiv, to obtain financing to complete the Business Combination or to satisfy other conditions to closing; (d) changes to the proposed structure of the Business Combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the Business Combination; (e) the ability to meet the applicable stock exchange listing standards following the consummation of the Business Combination; (f) the inability to complete the private placement or backstop transactions contemplated by the Business Combination Agreement and related agreements, as applicable; (g) the risk that the Business Combination disrupts current plans and operations of SRIVARU or its subsidiaries as a result of the announcement and consummation of the transactions described herein; (h) the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of SRIVARU to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (i) costs related to the Business Combination; (j) changes in applicable laws or regulations, including legal or regulatory developments (including, without limitation, accounting considerations) which could result in the need for Mobiv to restate its historical financial statements and cause unforeseen delays in the timing of the Business Combination and negatively impact the trading price of Mobiv’s securities and the attractiveness of the Business Combination to investors; (k) the possibility that SRIVARU and Mobiv may be adversely affected by other economic, business, and/or competitive factors; (l) SRIVARU’s ability to execute its business plans and strategies, (m) SRIVARU’s estimates of expenses and profitability and (n) other risks and uncertainties indicated from time to time in the final prospectus of Mobiv, including those under “Risk Factors” therein, and other documents filed or to be filed with the SEC by Mobiv. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made.

Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and SRIVARU and Mobiv assume no obligation and, except as required by law, do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither SRIVARU nor Mobiv gives any assurance that either SRIVARU or Mobiv will achieve its expectations.

Additional Information about the Transactions and Where to Find It.

In connection with the proposed business combination between SRIVARU and Mobiv (the “Business Combination”) SRIVARU has filed a registration statement on Form F-4 (as may be amended from time to time, the “Registration Statement”) that includes a preliminary proxy statement of Mobiv and a registration statement/preliminary prospectus of SRIVARU, and after the Registration Statement is declared effective, Mobiv will mail a definitive proxy statement/prospectus relating to the Business Combination to Mobiv’s stockholders. The Registration Statement, including the proxy statement/prospectus contained therein, when declared effective by the Securities and Exchange Commission (“SEC”), will contain important information about the Business Combination and the other matters to be voted upon at a meeting of Mobiv’s stockholders to be held to approve the Business Combination and related matters. This communication does not contain all the information that should be considered concerning the Business Combination and other matters and is not intended to provide the basis for any investment decision or any other decision in respect of such matters. SRIVARU and Mobiv may also file other documents with the SEC regarding the Business Combination. Mobiv stockholders and other interested persons are advised to read, when available, the preliminary proxy statement/prospectus and the amendments thereto and the definitive proxy statement/prospectus and other documents filed in connection with the Business Combination, as these materials will contain important information about Mobiv, SRIVARU and the Business Combination.

When available, the definitive proxy statement/prospectus and other relevant materials for the Business Combination will be mailed to Mobiv stockholders as of a record date to be established for voting on the Business Combination. Stockholders will also be able to obtain copies of the preliminary proxy statement/prospectus, the definitive proxy statement/prospectus and other documents filed or that will be filed with the SEC by Mobiv through the website maintained by the SEC at www.sec.gov, or by directing a request to the contacts mentioned below.

Participants in the Solicitation

Mobiv, SRIVARU and their respective directors and officers may be deemed participants in the solicitation of proxies of Mobiv stockholders in connection with the Business Combination. Mobiv stockholders and other interested persons may obtain, without charge, more detailed information regarding the directors and officers of Mobiv and a description of their interests in Mobiv is contained in Mobiv’s final prospectus related to its initial public offering, dated August 3, 2022, and in Mobiv’s subsequent filings with the SEC. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to Mobiv stockholders in connection with the Business Combination and other matters to be voted upon at the Mobiv stockholder meeting are set forth in the Registration Statement. Additional information regarding the interests of participants in the solicitation of proxies in connection with the Business Combination is included in the Registration Statement that SRIVARU has filed with the SEC. You may obtain free copies of these documents as described in the preceding paragraph.

Disclaimer

This communication relates to a proposed business combination between SRIVARU and Mobiv. This document does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Company Contact:

Mobiv Acquisition Corp
850 Library Avenue, Suite 204
Newark, Delaware 19711
Attn.: Mr. Peter Bilitsch
Chief Executive Officer
Email: [email protected]
Tel.: +13027386680

Investor & Media Contact:

Crescendo Communications, LLC
Tel: (212) 671-1020
Email: [email protected]