VBL Therapeutics Announces Proposed Public Offering of 2.5 Million Shares of Ordinary Shares
November 16 2017 - 4:01PM
VBL Therapeutics (Nasdaq:VBLT), a clinical-stage biotechnology
company focused on the discovery, development and commercialization
of first-in-class treatments for cancer, today announced that it is
offering to sell 2,500,000 ordinary shares in an underwritten
public offering.
VBL Therapeutics intends to use the net proceeds from the
offering for the advancement of clinical programs, product
development, and for working capital and other general corporate
purposes.
Piper Jaffray & Co. is acting as the sole manager in this
offering. Piper Jaffray & Co. proposes to offer the ordinary
shares from time to time to purchasers directly or through agents,
or through brokers in brokerage transactions on the Nasdaq Global
Market, or to dealers in negotiated transactions or in combination
of such methods of sale, at a fixed price or prices, which may be
changed, or at market prices prevailing at the time of sale, at
prices related to such prevailing market prices or at negotiated
prices.
A registration statement on Form S-3 (No. 333-207250) relating
to the ordinary shares was previously filed with the Securities and
Exchange Commission (the “SEC”) on October 2, 2015 and was declared
effective by the SEC on October 19, 2015. A prospectus supplement
relating to the offering will be filed with the SEC and will be
available on the SEC's website at http://www.sec.gov. Before you
invest, you should read the base prospectus, all documents
incorporated by reference into the registration statement and other
documents filed with the SEC for more information about VBL
Therapeutics and this offering. Copies of the prospectus supplement
and related prospectus, when available, may be obtained from: Piper
Jaffray & Co., Attention: Prospectus Department, 800 Nicole
Mall, J12S03, Minneapolis, MN 55402, via telephone at (800)
747-3924 or via email at prospectus@pjc.com.
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 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 Vascular Biogenics Ltd.
Vascular Biogenics Ltd., operating as VBL Therapeutics, is a
clinical stage biopharmaceutical company focused on the discovery,
development and commercialization of first-in-class treatments for
cancer. The Company’s lead oncology product candidate, ofranergene
obadenovec (VB-111), is a first-in-class, targeted anti-cancer
gene-therapy agent that is positioned to treat a wide range of
solid tumors. It is conveniently administered as an IV infusion
once every two months. It has been observed to be well-tolerated in
>300 cancer patients and we have observed its efficacy signals
in an “all comers” Phase 1 trial as well as in three tumor-specific
Phase 2 studies. Ofranergene obadenovec is currently being studied
in a Phase 3 pivotal trial for recurrent Glioblastoma, conducted
under an FDA Special Protocol Assessment (SPA).
Forward Looking Statements
This press release contains forward-looking statements that are
made pursuant to the safe harbor provisions of the federal
securities laws, including statements regarding the therapeutic
potential of, and clinical development plan for, VB-111 and
statements pertaining to our expectations regarding the completion
and anticipated proceeds of the proposed public offering. These
statements are based on management's current expectations and
accordingly are subject to uncertainty and changes in
circumstances. Actual results could differ materially from those
anticipated due to certain risks and uncertainties including,
without limitation, risks and uncertainties related to fluctuations
in our stock price, changes in market conditions and satisfaction
of customary closing conditions related to the public offering. Any
express or implied statements contained in this press release that
are not statements of historical fact may be deemed to be
forward-looking statements. All statements other than statements of
historical fact are forward-looking statements, which are often
indicated by terms such as “anticipate,” “believe,” “could,”
“estimate,” “expect,” “goal,” “intend,” “look forward to,” “may,”
“plan,” “potential,” “predict,” “project,” “should,” “will,”
“would” and similar expressions. These forward-looking statements
include, but are not limited to, statements regarding the clinical
development of ofranergene obadenovec (VB-111) and its therapeutic
potential, ongoing and planned clinical trials and clinical
results, including the timing thereof, our other pipeline
candidates, including the clinical development and therapeutic
potential of our VB-600 series of pipeline candidates and
Lecinoxoids in NASH, our new Modiin facility and our cash position
and financial outlook. These forward-looking statements are not
promises or guarantees and involve substantial risks and
uncertainties. Among the factors that could cause actual results to
differ materially from those described or projected herein include
uncertainties associated generally with research and development,
clinical trials and related regulatory reviews and approvals, and
the risk that historical clinical trial results may not be
predictive of future trial results. In particular, results from our
pivotal Phase 3 clinical trial of ofranergene obadenovec (VB-111)
in rGBM may not support approval of ofranergene obadenovec for
marketing in the United States, notwithstanding the positive
results seen in prior clinical experience. A further list and
description of these risks, uncertainties and other risks can be
found in the Company’s regulatory filings with the U.S. Securities
and Exchange Commission. Existing and prospective investors are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof. VBL
Therapeutics undertakes no obligation to update or revise the
information contained in this press release, whether as a result of
new information, future events or circumstances or otherwise.
CONTACT:Michael Rice, Founding PartnerLifeSci Advisors,
LLC646-597-6979
Vascular Biogenics (NASDAQ:VBLT)
Historical Stock Chart
From Mar 2024 to Apr 2024
Vascular Biogenics (NASDAQ:VBLT)
Historical Stock Chart
From Apr 2023 to Apr 2024