ASP Acerus Pharmaceuticals Corporation

Acerus Pharmaceuticals Corporation (TSX:ASP, OTCQB:ASPCF), a specialty pharmaceutical company focused on the commercialization of novel prescription products in Men’s Health, today announced that, effective July 1, 2021, an additional leading pharmacy benefit manager (PBM) in the United States has elected to make NATESTO® (testosterone nasal gel) a “Preferred Brand” on its National Preferred Drug List.

"This new formulary placement is another key milestone in Acerus’ commercial efforts in the United States,” said Ed Gudaitis, President and Chief Executive Officer of Acerus. “We now have, without a doubt, best-in-class branded coverage, which we anticipate will lead to enhanced patient access and increased physician prescribing of NATESTO® for the more than 13 million U.S. men diagnosed with hypogonadism."

Drugs listed on formulary as preferred brands have been evaluated by the PBM from a therapeutic and value perspective. Preferred branded drugs may be available to patients at a lower co-pay or co-insurance than non-preferred brand drugs.

About Acerus

Acerus Pharmaceuticals Corporation is a Canadian-based 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 salesforce in the United States and Canada, and through a global network of licensed distributors in other territories.

Acerus’ shares trade on TSX under the symbol ASP and on OTCQB under the symbol ASPCF. For more information, visit www.aceruspharma.com and follow us on Twitter and LinkedIn.

Notice Regarding Forward-Looking Statements

Information in this press release that is not current or historical factual information may constitute forward looking information within the meaning of securities laws. Implicit in this information are assumptions regarding our future operational results. These assumptions, although considered reasonable by the company at the time of preparation, may prove to be incorrect. Readers are cautioned that actual performance of the company is subject to a number of risks and uncertainties, including with respect to the impact of the increased insurance coverage on the commercial potential of NATESTO® in the U.S., and could differ materially from what is currently expected as set out above. For more exhaustive information on these risks and uncertainties you should refer to our annual information form dated March 10, 2021 which is available at www.sedar.com. Forward-looking information contained in this press release is based on our current estimates, expectations and projections, which we believe are reasonable as of the current date. You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While we may elect to, we are under no obligation and do not undertake to update this information at any particular time, whether as a result of new information, future events or otherwise, except as required by applicable securities law.

Media contact:

Chris WittyAcerus Investor Relations(646) 438-9385cwitty@darrowir.com