GERMANTOWN, Md., May 2, 2016 /PRNewswire/ -- Neuralstem, Inc.
(Nasdaq: CUR), a biopharmaceutical company focused on the
development of central nervous system therapies based on its neural
stem cell technology, today announced that it intends to offer
shares of its common stock and warrants to purchase shares of its
common stock in an underwritten public offering. The shares
of common stock and warrants will be immediately separable and will
be issued separately. All securities in the offering are being
offered by Neuralstem. The offering is subject to market and other
conditions, and 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. Roth Capital Partners is acting as sole book
runner and Brean Capital is acting as co-manager in the
offering.
Neuralstem intends to use the net proceeds from the offering to
fund regulatory, pre-clinical and clinical activities and general
corporate purposes, including working capital and the repayment of
debt.
The securities described above are being offered by Neuralstem
pursuant to a shelf registration statement on Form S-3 previously
filed with and subsequently declared effective by the Securities
and Exchange Commission (the "SEC"). An electronic
preliminary prospectus relating to the offering has also been filed
with the SEC and is available on the SEC's website at
http://www.sec.gov. Copies of the preliminary prospectus supplement
and accompanying base prospectus relating to this offering may be
obtained from Roth Capital Partners, 888 San Clemente, Newport Beach, CA 92660, (800) 678-9147.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, 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 Neuralstem
Neuralstem's patented technology enables the commercial-scale
production of multiple types of central nervous system stem cells,
which are being developed as potential therapies for multiple
central nervous system diseases and conditions. Neuralstem's
ability to generate neural stem cell lines from human hippocampus,
which were used for systematic chemical screening for neurogenesis
effect, has led to the discovery and patenting of molecules that
Neuralstem believes may stimulate the brain's capacity to generate
new neurons, potentially reversing pathophysiologies associated
with certain central nervous system (CNS) conditions.
The Company has completed Phase 1a and 1b trials evaluating
NSI-189, its first neurogenic small molecule product candidate, for
the treatment of major depressive disorder (MDD), and is currently
conducting a Phase 2 efficacy study for MDD.
Neuralstem's first stem cell product candidate, NSI-566, a
spinal cord-derived neural stem cell line, is under development for
treatment of amyotrophic lateral sclerosis (ALS). Neuralstem has
completed two clinical studies, in a total of thirty patients,
which met primary safety endpoints. In addition to ALS,
NSI-566 is also in a Phase 1 study to treat paralysis due to
chronic spinal cord injury, as well as in a Phase 1 study to treat
paralysis from ischemic stroke.
Cautionary Statement Regarding Forward Looking
Information
This press release contains "forward-looking statements" made
pursuant to the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995, including statements regarding the
proposed public offering and the intended use of proceeds from the
offering. The offering is subject to market and other conditions
and 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.
These forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially,
including market conditions, risks associated with the cash
requirements of our business and other risks detailed from time to
time in our filings with the SEC, and represent our views only as
of the date they are made and should not be relied upon as
representing our views as of any subsequent date. Such
forward-looking statements relate to future, not past, events and
may often be identified by words such as "expect," "anticipate,"
"intend," "estimate," "plan," "believe," "seek," "may" or "will."
Forward-looking statements by their nature address matters that
are, to different degrees, uncertain. Specific risks and
uncertainties that could cause our actual results to differ
materially from those expressed in our forward-looking statements
include risks inherent in the development and commercialization of
potential products, uncertainty of clinical trial results or
regulatory approvals or clearances, need for future capital,
dependence upon collaborators and maintenance of our intellectual
property rights. Actual results may differ materially from the
results anticipated in these forward-looking statements. Additional
information on potential factors that could affect our results and
other risks and uncertainties are detailed from time to time in
Neuralstem's periodic reports, including the Annual Report on Form
10-K for the year ended December 31,
2015, and filed with the Securities and Exchange Commission
(SEC) on March 14, 2016, and in other
reports filed with the SEC. We do not assume any obligation to
update any forward-looking statements.
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SOURCE Neuralstem, Inc.