Antares Pharma Appoints Dr. Peter Richardson as Executive Vice President, Research and Development and Chief Medical Officer

Rhea-AI Summary

Antares Pharma (NASDAQ: ATRS) announced the appointment of Peter Richardson as Executive Vice President and Chief Medical Officer. Dr. Richardson brings over 25 years of pharmaceutical experience, overseeing research and development, clinical operations, and regulatory affairs. His track record includes successful approvals for over 20 marketed products.

CEO Robert Apple noted that Richardson's expertise will support the advancement of Antares' proprietary pipeline, particularly products ATRS-1901 and ATRS-1902. This leadership change aims to enhance growth opportunities for the company.

Positive

• Appointment of Peter Richardson is expected to enhance R&D capabilities.
• Richardson's extensive experience may accelerate product pipeline advancements.

Negative

• Concerns about continuity and experience gaps in leadership.

EWING, N.J., April 26, 2021 (GLOBE NEWSWIRE) -- Antares Pharma, Inc. (NASDAQ: ATRS) (“the Company”), a specialty pharmaceutical company, today announced the appointment of Peter Richardson, MRCP, as Executive Vice President, Research and Development and Chief Medical Officer. In this role, Dr. Richardson will oversee the Company’s proprietary research and development programs, including ideation, formulation, clinical operations, pharmacovigilance and medical affairs.

Dr. Richardson has over 25 years of research and development experience in the pharmaceutical and medical device industry. He has created centers of excellence that have enabled and supported product development pipelines encompassing small molecules, biologics, novel formulations, combination products, and medical devices. During his career, Dr. Richardson has managed clinical development programs leading to the submission, review, and approvals of NDAs, sNDAs, BLAs and Marketing Authorization Applications in the U.S., Europe and Japan for over 20 marketed products.

Robert F. Apple, President and Chief Executive Officer of Antares Pharma, commented, “Peter brings a wealth of experience and expertise in multiple therapeutic areas including endocrinology and product development to the organization. As we remain focused on advancing our proprietary pipeline with ATRS-1901, a urology-oncology auto-injector product, and ATRS-1902, an endocrinology rescue pen, we believe his career in the pharmaceutical industry and proven track record, will support our continued success and further enhance the opportunities around our portfolio and technology. We are pleased to welcome Peter to the leadership team as we prepare for our next stage of growth.”

From 2016 until the acquisition of the company in 2020, Dr. Richardson was Chief Medical Officer for Adare Pharmaceuticals and Vice President of Research and Development and President, Adare Pharmaceuticals US. From 2012 to 2016, he served as Head of Clinical and Regulatory Affairs and Chief Medical Officer at Alcon, the eye care division of Novartis, having previously led development organizations for Novartis Pharmaceuticals from 1996 to 2005, where he was responsible for successful product approvals in multiple therapeutic areas. He also previously served as Chief Scientific Officer and Corporate Vice President of MannKind Corporation from 2005 to 2012.

Dr. Richardson earned his Bachelor of Medical Sciences from the University of Nottingham and his Bachelor of Medicine and Bachelor of Surgery from the University of Nottingham Medical School. He is a member of the Royal College of Physicians, United Kingdom.

Dr. Richardson, added, “I am delighted to join Antares at this juncture of their growth and development. I am impressed by the success they have already garnered in their proprietary and partnered business and I look forward to working with an exceptional organization that remains dedicated to product development.”

About Antares Pharma

Antares Pharma, Inc. is a specialty pharmaceutical company focused primarily on the development and commercialization of pharmaceutical products and technologies that address unmet needs in targeted therapeutic areas such as urology and endocrinology. The Company has a portfolio of proprietary and partnered commercial products with several product candidates in various stages of development, as well as significant strategic alliances with industry leading pharmaceutical companies including Teva Pharmaceutical Industries, Ltd. (Teva), AMAG Pharmaceuticals (AMAG), Pfizer Inc. (Pfizer) and Idorsia Pharmaceuticals Ltd. (Idorsia). Antares Pharma’s FDA-approved products include XYOSTED^® (testosterone enanthate) injection, OTREXUP^® (methotrexate) injection for subcutaneous use and Sumatriptan Injection USP, which is distributed by Teva. The Company also markets NOCDURNA^® (desmopressin acetate) in the U.S., which was licensed from Ferring Pharmaceuticals.

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to certain risks and uncertainties that can cause actual results to differ materially from those described. Factors that may cause such differences include, but are not limited to: the success of Dr. Peter Richardson in his new role at Antares and the success of future research and development programs, the Company’s ability to achieve the 2021 full-year revenue guidance; the uncertainty regarding the ongoing COVID-19 pandemic, including new strains of the virus, and the mitigation measures and other restrictions implemented in response to the same and the impact on demand for our products, new patients and prescriptions, future revenue, product supply, and our overall business, operating results and financial condition; commercial success of XYOSTED^® and future revenue from the same; market acceptance of Teva’s generic epinephrine auto-injector product and future revenue from the same; successful commercialization of NOCDURNA^® in the United States and market acceptance and future revenue from the same; whether the FDA will withdraw marketing approval for AMAG Pharmaceuticals’ Makena^® subcutaneous auto injector following the recent FDA letter seeking withdrawal, whether AMAG will be granted an appeal hearing and if granted, whether Makena^® will be successful and future prescriptions, market acceptance and revenue from the same; Teva’s ability to successfully commercialize VIBEX^® Sumatriptan Injection USP and the amount of revenue from the same; future prescriptions and sales of OTREXUP^®; Teva’s ability to successfully commercialize generic teriparatide in 11 countries in Europe, Canada and Israel and future revenue from the same, successful development including the timing and results of the Phase 3 clinical trial of the drug device combination product for Selatogrel with Idorsia Pharmaceuticals and FDA and global regulatory approvals and future revenue from the same; FDA approval of Teva’s pending ANDA for generic Forteo^® and future revenue from the same; the timing and results of the Company’s or its partners’ research projects or clinical trials of product candidates in development including the Company’s endocrinology and urology assets in development as well as Pfizer’s undisclosed development product; actions by the FDA or other regulatory agencies with respect to the Company’s products or product candidates of its partners; continued growth in product, development, licensing and royalty revenue; the Company’s ability to meet loan extension and interest only payment milestones and the ability to repay the debt obligation to Hercules Capital; the Company’s ability to obtain financial and other resources for its research, development, clinical, and commercial activities and other statements regarding matters that are not historical facts, and involve predictions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance, achievements or prospects to be materially different from any future results, performance, achievements or prospects expressed in or implied by such forward-looking statements. In some cases you can identify forward-looking statements by terminology such as ''may'', ''will'', ''should'', ''would'', ''expect'', ''intend'', ''plan'', ''anticipate'', ''believe'', ''estimate'', ''predict'', ''potential'', ''seem'', ''seek'', ''future'', ''continue'', or ''appear'' or the negative of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Additional information concerning these and other factors that may cause actual results to differ materially from those anticipated in the forward-looking statements is contained in the "Risk Factors" section of the Company's Annual Report on Form 10-K, and in the Company's other periodic reports and filings with the Securities and Exchange Commission. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. All forward-looking statements are based on information currently available to the Company on the date hereof, and the Company undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances after the date of this press release, except as required by law.

Contact:

Tram Bui
Vice President, Corporate Communications and Investor Relations
609-359-3016
tbui@antarespharma.com

FAQ

Who is Peter Richardson and what is his role at Antares Pharma?

Peter Richardson is appointed as Executive Vice President, Research and Development and Chief Medical Officer, overseeing the company's R&D programs.

What is Peter Richardson's experience before joining Antares Pharma?

Richardson has over 25 years of experience in the pharmaceutical industry, including roles at Adare Pharmaceuticals and Novartis.

How might Richardson's appointment impact Antares Pharma?

His extensive background is expected to support the advancement of Antares' proprietary pipeline and enhance growth opportunities.