Provectus Biopharmaceuticals, Inc. Announces Proposed Public Offering of Preferred Stock and Warrants
August 24 2016 - 4:05PM
Business Wire
Provectus Biopharmaceuticals, Inc. (NYSE MKT:PVCT,
www.provectusbio.com) (“Provectus” or the “Company”), a
clinical-stage oncology and dermatology biopharmaceutical company,
today announced that it intends to offer and sell shares of its
Series B Convertible Preferred Stock and warrants to purchase
common stock, subject to market and other conditions, in a "best
efforts" public offering. Provectus intends to use the net proceeds
of the offering for clinical development, working capital and
general corporate purposes.
Maxim Group LLC is acting as placement agent for the
offering.
The Series B Convertible Preferred Stock and warrants are being
offered under the Company’s effective shelf registration statement
on Form S-3 (No. 333-205704), including a base prospectus,
previously filed with and declared effective by the Securities and
Exchange Commission (SEC). The securities will be offered by means
of a prospectus supplement and accompanying prospectus, forming a
part of the effective registration statement. A preliminary
prospectus supplement related to the offering will be filed with
the SEC and will be available on the website of the SEC at
http://www.sec.gov. Electronic copies of the preliminary prospectus
supplement also may be obtained from Maxim Group LLC, 405 Lexington
Avenue, 2nd Floor, New York, NY 10174, at 212-895-3745. Before you
invest, you should read the preliminary prospectus supplement and
the accompanying prospectus in that registration statement and
other documents Provectus has filed or will file with the SEC for
more complete information about Provectus and the offering.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
jurisdiction.
About Provectus Biopharmaceuticals, Inc.
Provectus Biopharmaceuticals, Inc. is investigating new
therapies for the treatment of skin cancer, liver cancer and breast
cancer. Provectus’ investigational oncology drug, PV-10, is an
ablative immunotherapy under investigation in solid tumor cancers.
The Company has received orphan drug designations from the FDA for
its melanoma and hepatocellular carcinoma indications. PH-10, its
topical investigational drug for dermatology, is undergoing
clinical testing for psoriasis and atopic dermatitis. Provectus has
completed phase 2 trials of PV-10 as a therapy for metastatic
melanoma, and of PH-10 as a topical treatment for atopic dermatitis
and psoriasis. Information about these and the Company’s other
clinical trials can be found at the NIH registry,
www.clinicaltrials.gov. For additional information about Provectus,
please visit the Company’s website at www.provectusbio.com or
contact Porter, LeVay & Rose, Inc.
FORWARD-LOOKING STATEMENTS: This release contains
"forward-looking statements" as defined under U.S. federal
securities laws, including but not limited to the expected use of
the net proceeds from the offering. These statements reflect
management's current knowledge, assumptions, beliefs, estimates,
and expectations and express management's current views of future
performance, results, and trends and may be identified by their use
of terms such as "anticipate," "believe," "could," "estimate,"
"expect," "intend," "may," "plan," "predict," "project," "will,"
and other similar terms. Forward-looking statements are subject to
a number of risks and uncertainties that could cause our actual
results to materially differ from those described in the
forward-looking statements. Readers should not place undue reliance
on forward-looking statements. Such statements are made as of the
date hereof, and we undertake no obligation to update such
statements after this date.
Risks and uncertainties that could cause our actual results to
materially differ from those described in forward-looking
statements include those discussed in our filings with the
Securities and Exchange Commission (including those described in
Item 1A of our Annual Report on Form 10-K for the year ended
December 31, 2015) and the following:
- our determination, based on guidance
from the FDA, whether to proceed with or without a partner with the
fully enrolled phase 3 trial of PV-10 to treat locally advanced
cutaneous melanoma and the costs associated with such a trial if it
is necessary to complete (versus interim data alone);
- our determination whether to license
PV-10, our investigational drug product for melanoma and other
solid tumors such as cancers of the liver, if such licensure is
appropriate considering the timing and structure of such a license,
or to commercialize PV-10 on our own to treat melanoma and other
solid tumors such as cancers of the liver;
- our ability to license PH-10, our
investigational drug product for dermatology, on the basis of our
phase 2 atopic dermatitis and psoriasis results, which are in the
process of being further developed in conjunction with mechanism of
action studies; and
- our ability to raise additional capital
if we determine to commercialize PV-10 and/or PH-10 on our own,
although our expectation is to be acquired by a prospective
pharmaceutical or biotech concern prior to commercialization.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160824006103/en/
Provectus Biopharmaceuticals, Inc.Peter R. Culpepper,
866-594-5999 #30Interim CEO, COOorPorter, LeVay & Rose,
Inc.Marlon Nurse, 212-564-4700DM, SVP – Investor RelationsorAllison
+ PartnersTodd Aydelotte, 646-428-0644Managing Director – Media
Relations
Provectus Biopharmaceuti... (QB) (USOTC:PVCT)
Historical Stock Chart
From Mar 2024 to Apr 2024
Provectus Biopharmaceuti... (QB) (USOTC:PVCT)
Historical Stock Chart
From Apr 2023 to Apr 2024