SAN DIEGO, Aug. 11, 2016 (GLOBE NEWSWIRE) -- Neothetics, Inc. (NASDAQ:NEOT) today provided a business update on its strategic and operational initiatives and reported financial results for the second quarter 2016.
“We are pleased with the progress made during the quarter and remain confident in our efforts to pursue development with a modified formulation of our lead asset, LIPO-202,” said Martha J. Demski, Neothetics’ Operating Committee and Board Member. “We look forward to moving LIPO-202 into the clinic for two anatomical regions; submental and central abdominal. We believe the market for localized fat reduction is significant and untapped. The American Society of Dermatologic Surgeons’ (ASDS) 2016 survey highlighted 60% of U.S. consumers surveyed are considering an aesthetic procedure and 83% are concerned by excess fat. We believe LIPO-202 has the potential to address a significant unmet need in the U.S. aesthetic market.”
“We are pleased with the progress made during the quarter and remain confident in our efforts to pursue development with a modified formulation of our lead asset, LIPO-202,” said Martha J. Demski, Neothetics’ Operating Committee and Board Member. “We look forward to moving LIPO-202 into the clinic for two anatomical regions; submental and central abdominal. We believe the market for localized fat reduction is significant and untapped. The American Society of Dermatologic Surgeons’ (ASDS) 2016 survey highlighted 60% of U.S. consumers surveyed are considering an aesthetic procedure and 83% are concerned by excess fat. We believe LIPO-202 has the potential to address a significant unmet need in the U.S. aesthetic market.”
