Isoray, Inc. Announces Proposed Underwritten Public Offering
October 19 2020 - 4:56PM
Isoray, Inc. (NYSE AMERICAN: ISR) (“Isoray” or the “Company”), a
medical technology company and innovator in seed brachytherapy
powering expanding treatment options throughout the body, today
announced that it intends to offer and sell shares of its common
stock and warrants to purchase shares of its common stock in an
underwritten public offering. All shares of common stock and
warrants to purchase common stock will be sold by Isoray. The
proposed offering is subject to market and other conditions. 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.
Oppenheimer & Co. Inc. is acting as the sole
book-running manager for the proposed offering.
The Company intends to use the net proceeds of the offering to
fund operations, research and development efforts, potential future
acquisitions of complementary businesses or technologies, sales and
marketing initiatives, and for general corporate purposes,
including general and administrative expenses, capital
expenditures, and for general working capital purposes.
The securities described above are being offered by the Company
pursuant to a shelf registration statement on Form S-3 (No.
333-2366025) filed on January 23, 2020, and declared effective by
the Securities and Exchange Commission ("SEC") on February 4, 2020,
and the base prospectus contained therein with. A preliminary
prospectus supplement and the accompanying prospectus relating to
and describing the terms of the offering will be filed with the SEC
and will be available on the SEC's website at http://www.sec.gov.
Copies of the preliminary prospectus supplement and the
accompanying prospectus may be obtained, when available, from
Oppenheimer & Co. Inc., Attention: Syndicate Prospectus
Department, 85 Broad Street, 26th Floor, New York, New York 10004,
by telephone at (212) 667-8055, or by email at
EquityProspectus@opco.com. The final terms of the offering will be
disclosed in a final prospectus supplement to be filed with the
SEC.
Before investing in the offering, you should read in their
entirety the preliminary prospectus supplement and the accompanying
prospectus and the other documents that Isoray has filed with the
SEC that are incorporated by reference in the preliminary
prospectus supplement and the accompanying prospectus, which
provide more information about Isoray 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 Isoray, Inc.
Isoray, Inc., through its subsidiary, Isoray Medical, Inc., is
the sole producer of Cesium Blu brachytherapy seeds, which are
expanding brachytherapy treatment options throughout the body.
Learn more about this innovative Richland, Washington company and
explore the many benefits and uses of Cesium Blu by
visiting www.isoray.com. Join us on Facebook and
follow us on Twitter.
Safe Harbor Statement Statements in this news
release about Isoray’s future expectations, including: the use of
proceeds of the offering, market conditions that may affect the
timing, terms, and conditions of the offering, our ability to
satisfy the conditions to closing of the offering and other matters
affecting our ability to consummate the offering on terms
acceptable to us, the impact of COVID-19 on our financial results,
suppliers, scheduling of procedures, and employees, lower isotope
costs, advantages of our products including Blu Build and the
GammaTile Therapy delivery system, whether interest in and use of
our Cesium-131, commercially known as Cesium Blu, products will
increase or continue, whether use of Cesium-131 in non-prostate
applications will continue to increase revenue, whether further
manufacturing and production process improvements will be
completed or will result in lower costs, whether our market
presence and growth will continue, the positive industry data
fueling renewed interest in brachytherapy, strong patient results,
the perception by patients of quality of life outcomes, and
all other statements in this release, other than historical facts,
are “forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995 (“PSLRA”). This statement
is included for the express purpose of availing Isoray, Inc. of the
protections of the safe harbor provisions of the PSLRA. It is
important to note that actual results and ultimate corporate
actions could differ materially from those in such forward-looking
statements based on such factors as physician acceptance, training
and use of our products, market acceptance and recognition of our
products, our ability to successfully manufacture, market, and sell
our Blu Build products and the success of the GammaTile Therapy,
the length and severity of the COVID -19 pandemic, our ability to
manufacture our products in sufficient quantities to meet demand
within required delivery time periods while meeting our quality
control standards, our ability to enforce our intellectual property
rights, whether additional studies are released that support the
conclusions of past studies, whether ongoing patient results with
our products are favorable and in line with the conclusions of
clinical studies and initial patient results, patient results
achieved when our products are used for the treatment of cancers
and malignant diseases, successful completion of future research
and development activities, whether we, our distributors and our
customers will successfully obtain and maintain all required
regulatory approvals and licenses to market, sell and use our
products in its various forms, continued compliance with ISO
standards, the success of our sales and marketing efforts, changes
in reimbursement rates, the procedures and regulatory requirements
mandated by the FDA for 510(k) approval and reimbursement codes,
changes in laws and regulations applicable to our products, the
scheduling of physicians who either delay or do not schedule
patients in periods anticipated, the use of competitors’ products
in lieu of our products, less favorable reimbursement rates than
anticipated for each of our products, and other risks detailed from
time to time in Isoray’s reports filed with the SEC. Unless
required to do so by law, we undertake no obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
Investor Relations: Mark Levin (501) 255-1910
Media and Public Relations: Sharon Schultz (302) 539-3747
IsoRay (AMEX:ISR)
Historical Stock Chart
From Aug 2024 to Sep 2024
IsoRay (AMEX:ISR)
Historical Stock Chart
From Sep 2023 to Sep 2024