Aridis Pharmaceuticals (ARDS) Withdraws Proposed Stock Offering

Aridis Pharmaceuticals, Inc. (Nasdaq: ARDS), a biopharmaceutical company focused on the discovery and development of novel anti-infective therapies to treat life-threatening infections, today announced that due to adverse market conditions, it has withdrawn its proposed public offering of shares of its common stock.

"Due to the current market environment and in the interest of achieving the best value for our stockholders, we have decided to withdraw our recently announced public offering of common stock and focus on executing our clinical development plans," said Vu Truong, CEO of Aridis.

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