Arno Therapeutics Announces Cancellation of Special Meeting of Stockholders

FLEMINGTON, N.J.--(BUSINESS WIRE)--

Arno Therapeutics, Inc. ARNI, a clinical stage biopharmaceutical company focused on the development of therapeutics for cancer and other life threatening diseases, today announced that it has cancelled the special meeting of stockholders scheduled for December 22, 2016. The Company will consider at a later date whether to seek stockholder approval of the proposed amendments to its certificate of incorporation to implement a reverse split and reduce its authorized common stock.

About Arno Therapeutics

Arno Therapeutics is a clinical stage biopharmaceutical company developing innovative products for the treatment of cancer and other life threatening diseases. Arno has exclusive worldwide rights to develop and market three innovative anti-cancer product candidates. These compounds are in clinical or preclinical development. For more information about the company, please visit www.arnothera.com.

Forward-Looking Statements

This press release contains forward-looking statements that involve substantial risks and uncertainties. These statements are often, but not always, made through the use of words or phrases such as "anticipates," "expects," "plans," "believes," "intends," and similar words or phrases. These forward-looking statements include, without limitation, statements regarding the timing, progress and anticipated results of the clinical development of onapristone, statements regarding Arno's available cash resources, as well as Arno's strategy, future operations, outlook, milestones, future financial position, future financial results, plans and objectives. Arno may not actually achieve these plans, intentions or expectations and Arno cautions investors not to place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. Various important factors could cause actual results or events to differ materially from the forward-looking statements that we make. Such factors include, among others, risks that we will not obtain the capital necessary to fund our operations in a timely manner, if ever, or on acceptable terms, that if we are unable to obtain additional capital, we may be required to cease our ongoing clinical development activities, that the results of clinical trials will not support our claims or beliefs concerning the effectiveness of onapristone or any of our other product candidates, that we will be able to successfully develop a diagnostic to identify APR tumors, regulatory risks, and our reliance on third party researchers and other collaborators. Additional risks are described in the Company's Annual Report on Form 10-K for the year ended December 31, 2015 and in its Quarterly Report on Form 10-Q for the quarter ended September 30, 2016. Arno is providing this information as of the date of this press release and does not undertake any obligation to update any forward-looking statements as a result of new information, future events or otherwise.

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