Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Instagram Outage Disrupts Thousands of U.S. Users 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Hims & Hers Halts Compounded Semaglutide Pill After FDA Warning 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
SAN DIEGO, Feb. 18, 2016 -- Neothetics, Inc. (NASDAQ:NEOT), a clinical-stage specialty pharmaceutical company developing therapeutics for the aesthetic market, today announced that George Mahaffey offered his resignation as Chief Executive Officer and Chairman of the Board, effective immediately. The board has formed a committee to oversee day to day operations until a replacement is found. The Company also announced it is evaluating a path forward with a modified formulation of its lead asset LIPO-202 for the reduction of central abdominal bulging due to subcutaneous fat. Neothetics will provide a more detailed update in its 10-K and 4Q2015 release.
Neothetics today also reported preliminary fourth quarter 2015 cash and cash equivalents as of December 31, 2015 of approximately $37.7 million.
To receive Neothetics' press releases and other investor information, please go to the Investor Relations page of the company's website at investors.neothetics.com and register for email alerts.
About Neothetics, Inc.
Neothetics is a clinical-stage specialty pharmaceutical company developing therapeutics for the aesthetic market. The lead product candidate, LIPO-202, is for central abdominal bulging due to subcutaneous fat in non-obese subjects, an indication for which there is no FDA-approved drug. If approved, LIPO-202 may be a best-in-class non-surgical, non-ablative procedure and first-in-class injectable formulation for localized fat reduction and body contouring. For more information on Neothetics, please visit www.neothetics.com. Neothetics, LIPO-202, LIPO-102 and the Neothetics logo are trademarks or registered trademarks of Neothetics, Inc. Other names and brands may be claimed as the property of others.
COMPANY CONTACTS: Susan A. Knudson Chief Financial Officer 858-500-7780 [email protected] Fara Berkowitz, R.Ph, Pharm.D Senior Director, Investor Relations and Corporate Strategy 917-460-9307 [email protected]
