w. pascoe after reviewing the potential for our current assets with our board of directors and our larger shareholders following the disappointing fispemifene phase 2b study results we have decided to focus only on the priorities that we believe are most likely to generate strategic value while reducing our capital needs . strategic corporate objectives focus on vitaros growth re submit u.s. nda with the fda in q3 2016 with potential approval in 1h 2017 ; continue to support existing commercial partners efforts to increase revenue in 2016 and beyond ; and expand vitaros availability in europe latin america and the middle east targeting approximately ten new country launches in 2016 and 1h 2017 through our commercialization partners . rationalize the development pipeline immediately discontinue all ongoing fispemifene clinical activities on secondary hypogonadism and deprioritize work for other indications ; continue vitaros delivery device improvements ; and finalize the rayva phase 2b delivery device and study protocol explore u.s. and eu orphan designation and partner ex u.s. prior to initiating any future clinical studies . significantly reduce operating expenses reduce staff including the executive team by approximately 30 % ; reduce board of directors expenses by decreasing the size of the board and reducing the board s cash compensation ; and reduce operating expenses excluding non cash stock based compensation expense and depreciation expense by approximately 30 % in 2016 and 60 % in 2017 as compared to 2015 operating expenses excluding non cash stock based compensation expense and depreciation expense . apricus development priority is now focused on vitaros both to accelerate commercialization outside of the u.s. and to attempt to bring this novel erectile dysfunction therapy to patients in the u.s. next year with the goal of achieving profitability in 2017 . i would like to express my sincere gratitude to the talented employees affected by the reduction in force and to our valued employees who remain committed to our long term success . as always thank you for your continued support and interest in apricus biosciences . warm regards richard w. pascoe chief executive officer news careers contact search about apricus mission vision values management board of directors pipeline vitaros fispemifene rayva business development resources investor relations stock information stock chart news & events financials corporate governance shareholder services live with vitality ceo message click picture to view pipeline click picture to view nsdq apri 0.32 0.02 news releases october 12 2016 apricus biosciences to present at the 2016 bio investor forum september 28 2016 apricus biosciences closes 3.7 million registered direct offering presentations september 12 2016 rodman & renshaw conference presentation contact us apricus biosciences inc. nexmed u.s.a. inc. 11975 el camino real suite 300 san diego ca 92130 t 858 222 8041 f 858 436 8155 about apricus mission vision values management board of directors pipeline vitaros fispemifene rayva business development resources investor relations stock information stock chart news & events financials corporate governance shareholder services news careers get email alerts apricus biosciences inc. 2016 terms & conditions privacy policy and safe harbor site map site by mentus