Nabriva Agrees to Extension of Principal Debt Repayments Under Existing Loan Agreement with Hercules Capital

– Principal Repayments Delayed At Least Until January 1, 2022

– Repayment Delay and Recent ATM Activity Extends Cash Runway Substantially Through the First Quarter of 2022

DUBLIN, Ireland and FORT WASHINGTON, Pa., June 03, 2021 (GLOBE NEWSWIRE) — Nabriva Therapeutics plc (NASDAQ: NBRV), a biopharmaceutical company engaged in the commercialization and development of innovative anti-infective agents to treat serious infections, today announced that it has reached an agreement with Hercules Capital, Inc. (NYSE:HTGC) (“Hercules”) to extend principal payments under its existing loan agreement until at least January 1, 2022. Repayments of outstanding principal amounts under the company’s debt facility with Hercules were scheduled to begin on July 1, 2021. Terms of the amended agreement provide for an initial six-month extension to January 1, 2022, with the ability to delay the principal debt repayments until July 1, 2022 upon achievement of certain financing and product revenue milestones.

The company also announced an extension of its cash runway. Based on its current operating plans and following the extension of the principal debt repayments under its loan agreement with Hercules, the company expects that its existing cash resources, including proceeds raised under its at-the-market (ATM) offering facility since May 6, 2021, will be sufficient to enable the company to fund its operating expenses, debt service obligations and capital expenditure requirements substantially through the first quarter of 2022.

Nabriva CEO Ted Schroeder commented, “As a result of successfully negotiating to extend our debt repayment and the recent activity from our ATM program, we have improved our near-term cash flow and extended our cash runway substantially through the first quarter of 2022. This also importantly provides near-term optionality to invest in value-creating commercialization efforts to increase awareness and drive prescription demand growth for XENLETA® (lefamulin) and SIVEXTRO® (tedizolid phosphate). We remain committed to effectively managing expenses to focus on driving top-line revenues.”

About Nabriva Therapeutics plc

Nabriva Therapeutics is a biopharmaceutical company engaged in the commercialization and development of innovative anti-infective agents to treat serious infections. Nabriva Therapeutics received U.S. Food and Drug Administration approval for XENLETA® (lefamulin injection, lefamulin tablets), the first systemic pleuromutilin antibiotic for community-acquired bacterial pneumonia (CABP). Nabriva Therapeutics is also developing CONTEPO™ (fosfomycin) for injection, a potential first-in-class epoxide antibiotic for complicated urinary tract infections (cUTI), including acute pyelonephritis. Nabriva entered into an exclusive agreement with subsidiaries of Merck & Co. Inc., Kenilworth, N.J., USA to market, sell and distribute SIVEXTRO® (tedizolid phosphate) in the United States and certain of its territories.

Forward-Looking Statements

Any statements in this press release about future expectations, plans and prospects for Nabriva Therapeutics, including but not limited to statements about the ability of Nabriva Therapeutics to raise awareness of XENLETA and SIVEXTRO, drive prescription demand growth and drive top-line sales growth, the potential benefits to patients of SIVEXTRO and XENLETA, the market opportunity for SIVEXTRO and XENLETA, the availability of SIVEXTRO through major U.S. specialty wholesalers, the impact on Nabriva Therapeutics’ reported revenue from anticipated sales of SIVEXTRO, the sufficiency of its cash resources and other statements containing the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “likely,” “will,” “would,” “could,” “should,” “continue,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: Nabriva Therapeutic’s ability to comply with its obligations under its loan agreement with Hercules, Nabriva Therapeutic’s ability to maintain the conditions under the distribution agreement to exclusively distribute and promote SIVEXTRO, including its ability to maintain a commercial infrastructure sufficient to promote and distribute SIVEXTRO, the extent of business interruptions resulting from the infection causing the COVID-19 outbreak or similar public health crises, the ability to retain and hire key personnel, the availability of adequate additional financing on acceptable terms or at all and such other important factors as are set forth in Nabriva Therapeutics’ annual and quarterly reports and other filings on file with the SEC. In addition, the forward-looking statements included in this press release represent Nabriva Therapeutics’ views as of the date of this press release. Nabriva Therapeutics anticipates that subsequent events and developments may cause its views to change. However, while Nabriva Therapeutics may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Nabriva Therapeutics’ views as of any date subsequent to the date of this press release.

CONTACTS:

For Investors

Kim Anderson
Nabriva Therapeutics plc
ir@nabriva.com

For Media

Andrea Greif
Ogilvy
andrea.greif@ogilvy.com
914-772-3027