The board of directors of Cutia Therapeutics announced that all enrolled patients have completed the Phase III clinical trial of CU-30101, a localized lidocaine and tetracaine compound topical anesthesia cream for surface dermatologic operations. CU-30101's lidocaine and tetacaine combination formulations produce rapid and long-lasting anesthetic effects due to its ingredients' unique pharmacokinetic properties. Lidocaine diffuses more rapidly, and more extensively than tetracaine, whereas tetracaine, a long-acting localized anesthetic amino acid ester, is more lipophilic than lidocaine and can be concentrated in the topical stratum corneum.

Systemic absorption of the anesthetic component ingredients is also limited from the topical cream formulation. The Phase III clinical trial of CU -30101 conducted in China was a randomized, multi-center, double-blind, positive drug control, pairing designed trial to evaluate the safety and efficacy of CU-30101. There is no assurance that CU-30101 will ultimately be successfully developed and marketed by the Company.

Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company.