WARRINGTON, Pa., July 16, 2015 /PRNewswire/ -- Discovery
Laboratories, Inc. (Nasdaq: DSCO) today announced that it has
commenced an underwritten public offering of units. Each unit
will consist of one share of common stock and a Series A warrant to
purchase one share of common stock. Investors whose purchase
of units in the offering would result in their beneficially owning
more than the initial beneficial ownership limitation to be
included in the warrants will be able to acquire Series B units
consisting of a Series B pre-funded warrant and a Series B warrant
to purchase one share of common stock.
Stifel is acting as sole book-running manager, H.C. Wainwright & Co. is acting as lead
manager and LifeSci Capital LLC is acting as co-manager for the
offering. While the offering is expected to price before
9:30 am EDT July 17, 2015, the offering is subject to market
conditions, and there can be no assurance as to whether or when the
offering may be completed, or as to the actual size or terms of the
offering.
Discovery Laboratories, Inc. intends to use the net proceeds
from the offering to support its AEROSURF® clinical
program and for other working capital and general corporate
purposes.
The securities are being offered by Discovery Laboratories, Inc.
pursuant to a registration statement previously filed and declared
effective by the Securities and Exchange Commission. The
securities may be offered only by means of a prospectus, including
a prospectus supplement, forming a part of the effective
registration statement. When available, copies of the
preliminary prospectus supplement, the final prospectus supplement
and the accompanying base prospectus relating to this offering may
be obtained at the Securities and Exchange Commission web site at
http://www.sec.gov, or from Stifel, Nicolaus & Company,
Incorporated, Attention: Syndicate, One
Montgomery Street, Suite 3700, San
Francisco, California 94104 or via telephone at (415)
364-2720 or via email at syndprospectus@stifel.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities of Discovery
Laboratories, Inc. nor shall there be any sale of these securities
in any state or jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction.
About Discovery Labs
Discovery Laboratories, Inc. is
a specialty biotechnology company focused on developing aerosolized
KL4 surfactant therapies for respiratory diseases.
Surfactants are produced naturally in the lung and are essential
for normal respiratory function and survival. If surfactant
deficiency or degradation occurs, the air sacs in the lungs can
collapse, resulting in severe respiratory diseases and
disorders. Discovery Labs' technology platform includes a
novel synthetic peptide-containing (KL4) surfactant, that is
structurally similar to pulmonary surfactant, and proprietary drug
delivery technologies being developed to enable efficient delivery
of aerosolized KL4 surfactant. Discovery Labs believes that
its proprietary technology platform makes it possible, for the
first time, to develop a significant pipeline of aerosolized
surfactant products to address a variety of respiratory diseases
for which there frequently are few or no approved therapies.
Forward-Looking Statements
To the extent
that statements in this press release are not strictly historical,
all such statements are forward-looking, and are made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are subject to
certain risks and uncertainties that could cause actual results to
differ materially from the statements made. Examples of such risks
and uncertainties, including those related to Discovery Labs'
securities offering and its development programs, are described in
Discovery Labs' filings with the Securities and Exchange Commission
including the most recent reports on Forms 10-K, 10-Q and 8-K, and
any amendments thereto.
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SOURCE Discovery Laboratories, Inc.