Oxygen Biotherapeutics Announces Proposed Public Offering
March 17 2014 - 4:05PM
Business Wire
Oxygen Biotherapeutics, Inc., (NASDAQ: OXBT) a specialty
pharmaceutical company focused on developing and commercializing a
portfolio of products for the critical care market, announced today
its intention, subject to market and other conditions, to commence
a public offering of its common stock. The Company intends to use
the net proceeds received from the offering for furthering its
clinical trials and efforts to obtain regulatory approval for
Levosimendan and Oxycyte, developing its other product candidates,
supporting manufacturing of Levosimendan and Oxycyte, research and
development and general corporate purposes.
Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg
Thalmann Financial Services Inc. (NYSE MKT: LTS), is acting as the
sole book-running manager in connection with the offering. MTS
Securities, LLC, an affiliate of MTS Health Partners, LP, is acting
as the co-manager in connection with the offering.
The offering is being made pursuant to a shelf registration
statement that the Company filed with the Securities and Exchange
Commission (“SEC”) and which is effective. A prospectus supplement
relating to the offering will be filed with the SEC. When
available, copies of the prospectus supplement and the accompanying
prospectus relating to these securities may be obtained by
contacting Ladenburg Thalmann & Co., Inc., 58 South Service
Road, Suite 160, Melville, New York, Attention: George Mangione, by
phone number at (631) 270-1611 or e-mail at
GMangione@ladenburg.com, or MTS Securities, LLC, at 623 Fifth
Avenue, 14th Floor, New York City, New York 10022, phone number
(212) 887-2100. Electronic copies of the prospectus supplement and
accompanying prospectus will also be available on the website of
the SEC at http://www.sec.gov/.
This press release does not constitute an offer to sell, or the
solicitation of an offer to buy, these securities, nor will there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale is not permitted.
About Oxygen Biotherapeutics
Oxygen Biotherapeutics, Inc. is developing medical products for
the critical care market. The Company recently acquired the North
American rights to develop and commercialize Levosimendan. The
United States Food and Drug Administration (FDA) has granted Fast
Track status for Levosimendan for the reduction of morbidity and
mortality in cardiac surgery patients at risk for developing Low
Cardiac Output Syndrome (LCOS). In addition, the FDA has agreed to
a Phase 3 protocol design under Special Protocol Assessment (SPA),
and provided guidance that a single successful trial will be
sufficient to support approval of Levosimendan in this indication.
The Company also has developed a proprietary perfluorocarbon (PFC)
therapeutic oxygen carrier called Oxycyte® that is currently in
clinical and preclinical studies for intravenous delivery for
indications such as traumatic brain injury, decompression sickness
and stroke.
Caution Regarding Forward-Looking Statements
This news release contains certain forward-looking statements by
the Company that involve risks and uncertainties and reflect the
Company’s judgment as of the date of this release. The
forward-looking statements are subject to a number of risks and
uncertainties, including, but not limited to, the timing, pricing
and status of the offering described above, and other risks and
uncertainties as described in the Company’s filings with the
Securities and Exchange Commission, including in its quarterly
report on Form 10-Q filed on March 17, 2014, and annual report on
Form 10-K filed on June 26, 2013, as well as its other filings with
the SEC. The Company disclaims any intent or obligation to update
these forward-looking statements beyond the date of this release.
Statements in this press release regarding management’s future
expectations, beliefs, goals, plans or prospects constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995.
IRTH CommunicationsRobert Haag,
1-866-976-4784oxbt@irthcommunications.com
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