COCRYSTAL PHARMA, INC. PRICES $2.2 MILLION REGISTERED DIRECT OFFERING
January 29 2020 - 9:45AM
COCRYSTAL PHARMA, INC. (NASDAQ: COCP) (“Cocrystal” or the
“Company”), a clinical stage biotechnology company discovering and
developing novel antiviral therapeutics, today
announced the pricing of a registered direct offering with
gross proceeds to the Company expected to be approximately $2.2
million before deducting placement agent commissions and expenses.
The proposed offering equates to 3,492,063 shares of common stock
at $0.63 per share. The Company intends to use the net proceeds for
working capital and other general corporate purposes.
The offering is expected to close on or about
January 31, 2020, subject to the satisfaction of customary closing
conditions.
A.G.P./Alliance Global Partners is acting as
sole placement agent for the offering.
This offering is being made pursuant to an
effective shelf registration statement on Form S-3 (No. 333-220632)
previously filed with the SEC. A prospectus supplement and
accompanying prospectus describing the terms of the proposed
offering will be filed with the SEC. Once filed, electronic
copies of the preliminary prospectus supplement may be obtained
from A.G.P./Alliance Global Partners, 590 Madison Avenue, 36th
Floor, New York, NY 10022 or via telephone at 212-624-2060 or
email: prospectus@allianceg.com. Before investing in this offering,
interested parties should read in their entirety the prospectus
supplement and the accompanying prospectus and the other documents
that Cocrystal has filed and will file with the SEC or that are
incorporated by reference in such prospectus supplement and the
accompanying prospectus, which provide more information about
Cocrystal and the offering.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Cocrystal Pharma, Inc.
Cocrystal Pharma, Inc. is a clinical stage
biotechnology company discovering and developing novel antiviral
therapeutics that target the replication machinery of influenza
viruses, hepatitis C viruses, and noroviruses.
Forward-Looking StatementsThis
press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including statements related to our ability to complete the
offering, our intended use of proceeds and other statements that
are not historical fact. We have based these forward-looking
statements largely on our current expectations and projections
about future events. Some or all of the events anticipated by these
forward-looking statements may not occur. Important factors that
could cause actual results to differ from those in the
forward-looking statements include, but are not limited to, the
risk that the public offering may not occur, risks arising from our
reliance on continuing collaboration with Merck Sharp & Dohme
Corp. under the collaboration agreement entered into last year, the
availability of products manufactured by third parties, the future
results of preclinical and clinical studies, the research
organization’s inability to recruit subjects and complete the Phase
2a study in a timely manner or at all, including as the result of
civil unrest and political instability in Hong Kong, general risks
arising from clinical trials, receipt of regulatory approvals, our
ability to find and enter into agreements with suitable
collaboration partners, unanticipated litigation and other expenses
and factors that affect the capital markets in general and early
stage biotechnology companies specifically. Further information on
our risk factors is contained in our filings with the SEC,
including our Annual Report on Form 10-K for the year ended
December 31, 2018 and our Quarterly Report on Form 10-Q for the
quarter ended September 30, 2019. Any forward-looking statement
made by us herein speaks only as of the date on which it is made.
Factors or events that could cause our actual results to differ may
emerge from time to time, and it is not possible for us to predict
all of them. We undertake no obligation to publicly update any
forward-looking statement, whether as a result of new information,
future developments or otherwise, except as may be required by
law.
Investor and Media Contact:JTC
Team, LLC(833) 475-8247COCP@jtcir.com
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