Rights Offering of Cassiopea SpA

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On June 3, 2020, SIX Swiss Exchange listed Cassiopea S.p.A. launched a right offering of 750,000 registered shares. Cassiopea expects to receive net proceeds from the offering of approximately EUR 22.3 million, which will be used to finance the Company’s operations up to the planned approval of Clascoterone cream 1% in H2 2020 and the preparation of Clascoterone cream 1%’s subsequent launch in the U.S. and for general corporate purposes. The newly issued shares started trading on the SIX Swiss Exchange for the first time on June 18, 2020. Italian-based Cassiopea is a specialty pharmaceutical company developing and preparing to commercialize prescription drugs with novel mechanisms of action (MOA) to address long-standing and essential dermatological conditions.

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