Mr. Robert Motz reports

ACERUS ANNOUNCES AMENDMENT TO PROMISSORY NOTE DUE TO FORMER SERENITY SHAREHOLDERS

Acerus Pharmaceuticals Corp. has amended the promissory note in the amount of $4.91-million (U.S.) related to the upfront fee owed to former Serenity Pharmaceuticals LLC securityholders. The securityholder representative and Acerus agreed that the amount of the note would be increased to $7.75-million (U.S.). Repayment of the note would be done via a payment schedule commencing the last business day of each calendar quarter following the calendar quarter in which the achievement of the first commercial sale of Noctiva in the United States occurs. The increase in the face value of the promissory note reflects the estimated interest cost associated with the progress payment schedule noted below. Payments will now occur as noted herein.

In addition, the securityholder representative and Acerus agreed to amend the maturity date so that it would occur on the last day of the 13th calendar quarter following quarter in which first commercial sale occurs.

This amendment will allow Acerus more time to complete its previously announced strategic review.

About Acerus Pharmaceuticals Corp.

Acerus Pharmaceuticals is a specialty pharmaceutical company focused on the commercialization and development of innovative prescription products that improve patient experience, with a primary focus in the field of men's health. The company commercializes its products via its own sales force in the United States and Canada, and through a global network of licensed distributors in other territories.

We seek Safe Harbor.