SAN DIEGO, May 22, 2017 /PRNewswire/ -- MabVax
Therapeutics Holdings, Inc. (Nasdaq: MBVX), a clinical-stage
biotechnology company focused on the development of antibody-based
products to address unmet medical needs in the treatment of cancer,
announced today the closing of its public offering of common stock
and Series G Preferred Stock for a total of $4.1 million. Sold in the offering was a
combination of common stock and Series G Preferred Stock at
$1.75 per share of common stock and
Series G Preferred Stock. The gross proceeds of the public offering
were $4.1 million before the
underwriter's discount and expenses. Both OPKO Health, Inc. (NYSE:
OPK) and Dr. Phillip Frost, CEO and
Chairman of OPKO Health, Inc. participated in the
offering. The Series G Preferred Stock will not be separately
listed on any securities exchange or other trading market.
Laidlaw & Company (UK) Ltd. acted as the sole underwriter
for this offering.
A registration statement relating to these securities was
previously filed on Form S-1 (333-216016) with the Securities and
Exchange Commission (the "SEC"), and was declared effective by the
SEC on May 12, 2017. A final
prospectus relating to the offering may be obtained on the SEC's
website located at www.sec.gov, and electronic copies of the final
prospectus may also be obtained from Laidlaw & Company (UK)
Ltd., Attention: Syndicate Department, 546 Fifth Avenue,
New York, NY 10036, by telephone
at (212) 953-4900 or by email at syndicate@laidlawltd.com.
This press release shall not constitute an offer to sell or a
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 MabVax:
MabVax Therapeutics Holdings, Inc. is a clinical-stage
biotechnology company with a fully human antibody discovery
platform focused on the rapid translation into clinical development
of products to address unmet medical needs in the treatment of
cancer. Our lead antibody is directed at an antigen target
expressed on more than 90% of pancreatic cancers and a significant
amount of other GI and lung cancers, making the antibody
potentially broadly applicable to a wide variety of patients
suffering from difficult to treat cancers. With our collaborators
including Memorial Sloan Kettering Cancer Center, Rockefeller University, Sarah Cannon, Honor Health and Imaging
Endpoints, we have treated over 50 patients with either our
therapeutic antibody designated as MVT-5873 or our PET imaging
diagnostic product designated as MVT-2163 in Phase I clinical
studies, and demonstrated early safety, specificity for the target
and an early efficacy signal. Results of these trials should
be published by mid-year 2017. Additionally, our Phase I
clinical study of our radioimmunotherapy product designated as
MVT-1075 has been authorized to proceed by the FDA and will soon
commence with patient enrollment. For additional information,
please visit the Company's website, www.mabvax.com.
Forward Looking Statements:
This press release on announcing the closing of our public
offering contains "forward-looking statements" regarding matters
that are not historical facts, including statements relating to the
Company's clinical trials and product development pipeline. We have
no assurance that all the product development pipeline will be
fully developed by the Company. Because such statements are subject
to risks and uncertainties, actual results may differ materially
from those expressed or implied by such forward-looking statements.
Words such as "anticipates," "plans," "expects," "intends," "will,"
"potential," "hope" and similar expressions are intended to
identify forward-looking statements. These forward-looking
statements are based upon current expectations of the Company and
involve assumptions that may never materialize or may prove to be
incorrect. Actual results and the timing of events could differ
materially from those anticipated in such forward-looking
statements as a result of various risks and uncertainties. Detailed
information regarding factors that may cause actual results to
differ materially from the results expressed or implied by
statements in this press release relating to the Company may be
found in the Company's periodic filings with the Securities and
Exchange Commission, including the factors described in the section
entitled "Risk Factors" in its annual report on Form 10-K for the
fiscal year ended December 31, 2016,
as amended and supplemented from time to time and the
Company's Quarter Reports on Form 10-Q and other filings submitted
by the Company to the SEC, copies of which may be obtained from the
SEC's website at www.sec.gov. The parties do not undertake any
obligation to update forward-looking statements contained in this
press release.
Investor Contact:
Jenene Thomas
Jenene Thomas Communications, LLC
Phone: +1 (908) 938-1475
Email: jtc@jenenethomascommunications.com
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SOURCE MabVax Therapeutics Holdings, Inc.