TEL-AVIV, Israel, April 3, 2017 /PRNewswire/ --
Therapix Biosciences Ltd. (NASDAQ: TRPX, TASE:
TRPX), a specialty clinical-stage pharmaceutical
company specializing in the development of cannabinoid-based
drugs, today announced that the underwriters of its previously
announced public offering of 2,000,000 American Depository Shares
(ADSs), each ADS representing 40 ordinary shares of the Company,
have exercised their option to purchase an additional 300,000 ADSs,
at the public offering price of $6.00
per ADS to cover over allotments, bringing total gross proceeds
from the offering to $13,800,000,
prior to deducting underwriting discounts and offering-related
expenses payable by the Company. The public offering previously
closed on March 27, 2017. This
exercise of the over-allotment closed on April 3, 2017.
Therapix plans to use the net proceeds from this offering to
advance the formulation and clinical development efforts for its
two lead product candidates, including Phase II clinical trials,
and for working capital and other general corporate purposes.
Therapix's ADSs are traded on the NASDAQ Capital Market under
the symbol TRPX.
Laidlaw & Company (UK) Ltd. is acting as sole book running
manager for the offering.
The final prospectus relating to this offering was filed with
the Securities and Exchange Commission (SEC) on March 22, 2017. The offering was made only by
means of a prospectus. Copies of the prospectus relating to the
offering may be obtained by contacting Laidlaw & Company (UK)
Ltd., 546 5th Avenue, New York, New
York 10036, telephone 212-953-4917, email:
syndicate@laidlawltd.com. Investors may also obtain these documents
at no cost by visiting the SEC's website at http://www.sec.gov.
Before you invest, you should read the prospectus and other
documents the Company has filed or will file with the SEC for more
complete information about the Company and the offering.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the 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 registration
or qualification under the securities laws of any such
jurisdiction.
About Therapix Biosciences Ltd.
Therapix Biosciences Ltd. is a specialty clinical-stage
pharmaceutical company led by an experienced team of senior
executives and scientists, focused on creating and enhancing a
portfolio of technologies and assets based on cannabinoid
pharmaceuticals. With this focus, the company has initiated two
internal drug development programs based on repurposing a U.S. Food
and Drug Administration, or FDA, approved synthetic cannabinoid
(dronabinol): Joint Pharma developing THX-TS01 targeted to the
treatment of Tourette Syndrome, and BrainBright Pharma developing
THX-ULD01 targeted to the high value and under-served market of
mild cognitive impairments.
Forward-Looking Statements
This press release contains forward-looking statements about the
Company's expectations, beliefs and intentions. Forward-looking
statements can be identified by the use of forward-looking words
such as "believe", "expect", "intend", "plan", "may", "should",
"could", "might", "seek", "target", "will", "project", "forecast",
"continue" or "anticipate" or their negatives or variations of
these words or other comparable words or by the fact that these
statements do not relate strictly to historical matters. For
example, forward-looking statements are used in this press release
when we discuss the use of proceeds, the description of our
technology and its proposed uses. These forward-looking statements
involve certain risks and uncertainties, including, among others,
risks that could cause the Company's results to differ materially
from those expected by Company management or otherwise described in
or implied by the statements in this press release. Any
forward-looking statement in this press release speaks only as of
the date of this press release. The Company undertakes no
obligation to publicly update or review any forward-looking
statement, whether as a result of new information, future
developments or otherwise, except as may be required by any
applicable securities laws. More detailed information about the
risks and uncertainties affecting the Company is contained under
the heading "Risk Factors" in Therapix Biosciences Ltd.'s
prospectus filed with the SEC on March 22,
2017, which is available on the SEC's website,
http://www.sec.gov .
Contact: Goldfinger Communications, Irit
Radia, irit@goldfingercom.com, +972-54-6699311
SOURCE Therapix Biosciences Ltd