SAN DIEGO, Feb. 9, 2016 /PRNewswire/ -- Mast Therapeutics,
Inc. (NYSE MKT: MSTX), a biopharmaceutical company developing
novel, clinical-stage therapies for sickle cell disease and heart
failure, today announced that it intends to offer shares of common
stock and warrants to purchase common stock in an underwritten
public offering. The offering is subject to market and other
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.
Roth Capital Partners is acting as sole manager for the proposed
offering.
Mast Therapeutics intends to use the net proceeds from the
offering primarily to fund its clinical development programs of
vepoloxamer in sickle cell disease and vepoloxamer and AIR001 in
heart failure, for regulatory, manufacturing and other
commercial-readiness activities for vepoloxamer in sickle cell
disease, and for working capital and general corporate
purposes.
The securities described above are being offered by Mast
Therapeutics pursuant to a shelf registration statement previously
filed with and declared effective by the U.S. Securities and
Exchange Commission (SEC). The securities may be offered only
by means of a prospectus. Once available, copies of the
preliminary prospectus supplement and accompanying base prospectus
relating to this offering may be obtained from Roth Capital
Partners, 888 San Clemente, Newport
Beach, CA 92660, (800) 678-9147, or by accessing the SEC's
website, http://www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, 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 Mast Therapeutics
Mast Therapeutics, Inc. is a publicly traded biopharmaceutical
company headquartered in San
Diego, California. The Company is leveraging its
Molecular Adhesion and Sealant Technology (MAST) platform, derived
from over two decades of clinical, nonclinical and manufacturing
experience with purified and non-purified poloxamers, to develop
vepoloxamer (also known as MST-188), its lead product candidate,
for serious or life-threatening diseases and conditions typically
characterized by impaired microvascular blood flow and damaged cell
membranes. The Company is also developing AIR001, a sodium
nitrite solution for inhalation via nebulization.
Vepoloxamer is an investigational new drug being evaluated in a
pivotal Phase 3 study called EPIC for the treatment of
vaso-occlusive crisis in patients with sickle cell disease and in a
Phase 2 study for the treatment of patients with chronic heart
failure. AIR001 is an investigational new drug in Phase 2a
clinical development for the treatment of patients with heart
failure with preserved ejection fraction (HFpEF). More information
can be found on the Company's web site at www.masttherapeutics.com.
(Twitter: @MastThera)
Mast Therapeutics™ and the corporate logo are trademarks of Mast
Therapeutics, Inc.
Forward Looking Statements
Mast Therapeutics cautions you that statements included in this
press release that are not a description of historical facts are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 that are based on the
Company's current expectations and assumptions. Such
forward-looking statements may be identified by the use of
forward-looking words such as "intend," "plan," "anticipate,"
"believe," "expect," among others, and include, but are not limited
to, statements relating to the proposed public offering of the
Company's securities and the Company's intended use of proceeds
from the offering. There are a number of factors that could
cause or contribute to material differences between actual events
or results and the expectations indicated by the forward-looking
statements. These factors include, but are not limited to: market
and other conditions that affect whether and when the public
offering may be completed or the size and/or terms of the offering;
the inherent uncertainty of outcomes in ongoing and future studies
of the Company's product candidates and the risk that its product
candidates, including vepoloxamer, may not demonstrate adequate
safety, efficacy or tolerability in one or more such studies,
including EPIC; delays in the commencement or completion of
clinical studies, including as a result of difficulties in
obtaining regulatory agency agreement on clinical development plans
or clinical study design, opening trial sites, enrolling study
subjects, manufacturing sufficient quantities of clinical trial
material, being subject to a "clinical hold," and/or suspension or
termination of a clinical study, including due to patient safety
concerns or lack of funding; delays in clinical study closeouts,
including blinded data review and quality assurance procedures; the
risk that, even if current and planned clinical studies are
successful, the FDA or other regulatory agencies may determine they
are not sufficient to support a new drug application; the potential
that, even if clinical studies of a product candidate in one
indication are successful, clinical studies in another indication
may not be successful; the Company's dependence on third parties to
assist with important aspects of development of its product
candidates, including conduct of its clinical studies and supply
and manufacture of clinical trial material, and, if approved,
commercial product, and the risk that such third parties may fail
to perform as expected; the risk that the Company may be required
to repay its outstanding debt obligations on an accelerated basis
and/or at a time that could be detrimental to its financial
condition, operations and/or business strategy; risk associated
with the Company's ability to manage operating expenses and/or
obtain additional funding to support its operations on a timely
basis or on acceptable terms, or at all; the potential for the
Company to delay, reduce or discontinue current and/or planned
development activities, including clinical studies or partner its
product candidates at inopportune times if it is unable to raise
sufficient additional capital as needed; the risk that, even if the
Company successfully develops a product candidate in one or more
indications, it may not realize commercial success and may never
achieve profitability; the risk that the Company is not able to
obtain and maintain effective patent coverage or other market
exclusivity protections for its products, if approved, without
infringing the proprietary rights of others; and other risks and
uncertainties more fully described in the Company's press releases
and periodic filings with the Securities and Exchange Commission.
The Company's public filings with the Securities and Exchange
Commission are available at www.sec.gov.
You are cautioned not to place undue reliance on forward-looking
statements, which speak only as of the date when made. Mast
Therapeutics does not intend to revise or update any
forward-looking statement set forth in this press release to
reflect events or circumstances arising after the date hereof,
except as may be required by law.
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SOURCE Mast Therapeutics