AmpliPhi Biosciences Announces Closing of Public Offering
May 10 2017 - 5:29PM
Business Wire
AmpliPhi Biosciences Corporation (NYSE MKT: APHB), a
biotechnology company focused on the development of therapies for
drug-resistant bacterial infections using bacteriophage technology,
today announced the closing of its previously announced
underwritten public offering. Total proceeds to AmpliPhi from the
offering were approximately $9.1 million, after deducting the
underwriting discount and commissions and estimated offering
expenses payable by AmpliPhi, and excluding any proceeds that
may be received upon exercise of the common warrants. AmpliPhi sold
7,067,419 shares of its common stock (or pre-funded warrants to
purchase common stock in lieu thereof), including 110,897 shares of
common stock sold pursuant to the partial exercise of the
underwriter’s option to purchase additional shares, and common
warrants to purchase 8,000,000 shares of common stock, including
common warrants to purchase up to 1,043,478 shares of common stock
sold pursuant to the full exercise of the underwriter’s option to
purchase additional common warrants. AmpliPhi anticipates
using the net proceeds from the offering for general corporate
purposes, including manufacturing expenses, clinical trial
expenses, research and development expenses and general and
administrative expenses.
Rodman & Renshaw, a unit of H.C. Wainwright & Co., acted
as the sole book-running manager for the offering.
A registration statement relating to these securities was
declared effective by the Securities and Exchange Commission (SEC)
on May 4, 2017. In addition, a separate registration statement
relating to these securities was filed with the SEC pursuant to
Rule 462(b) of the Securities Act of 1933, as amended, and became
automatically effective on May 4, 2017. Copies of the final
prospectus relating to the offering can be obtained for free by
visiting the SEC’s website at http://www.sec.gov, or
alternatively from the offices of H.C. Wainwright & Co., LLC by
email at placements@hcwco.com or by phone at 646-975-6996.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
About AmpliPhi Biosciences
AmpliPhi Biosciences Corporation is a biotechnology company
pioneering the development and commercialization of therapies for
antibiotic-resistant infections using bacteriophage-based
technology. In May 2017, AmpliPhi announced a new strategic
emphasis on developing precisely targeted and personalized
bacteriophage therapies for patients with serious or
life-threatening antibiotic-resistant infections. AmpliPhi has
reported results from two Phase 1 clinical trials of AB-SA01, one
for the treatment of S. aureus in chronic rhinosinusitis patients
(safety and preliminary efficacy) and one to evaluate the safety of
AB-SA01 when administered topically to the intact skin of healthy
adults.
About Bacteriophage
Bacteriophages, or more simply “phages,” are the natural
predators of bacteria and are thought to be the most abundant life
form on earth. Over eons, phages have evolved an incredible
diversity of specialist strains that typically prey upon just one
strain of bacteria, enabling phage therapies to precisely target
pathogenic bacteria while sparing the beneficial microbiota. Phages
can infect and kill bacteria, whether they are antibiotic-resistant
or not, and even when they have formed protective biofilms.
Forward Looking Statements
Statements in this press release that are not statements of
historical fact are forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements include, without limitation, statements
about AmpliPhi’s expectations regarding the anticipated use of net
proceeds from the public offering. Words such as “believe,”
“anticipate,” “plan,” “expect,” “intend,” “will,” “may,” “goal,”
“potential” and similar expressions are intended to identify
forward-looking statements, though not all forward-looking
statements necessarily contain these identifying words. Among the
factors that could cause actual results to differ materially from
those indicated in the forward-looking statements are risks and
uncertainties associated with AmpliPhi’s business and
financial condition in general, including the risks and
uncertainties described in AmpliPhi’s Annual Report on Form 10-K
for the year ended December 31, 2016, as filed with the SEC, and
other filings with the SEC. You are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date of this press release. All forward-looking statements
are qualified in their entirety by this cautionary statement, and
AmpliPhi undertakes no obligation to revise or update any
forward-looking statements to reflect events or circumstances after
the date of this press release.
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version on businesswire.com: http://www.businesswire.com/news/home/20170510006675/en/
At the Company:AmpliPhi BiosciencesMatthew Dansey,
858-800-4869md@ampliphibio.comorInvestor Relations:LHAJody
Cain, 310-691-7100jcain@lhai.com
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