GERMANTOWN, Md., May 22, 2020 /PRNewswire/ -- Seneca
Biopharma, Inc. (Nasdaq: SNCA), a biopharmaceutical company focused
on developing novel treatments for diseases of high unmet medical
need, reported the exercise of approximately 2.87 million
previously issued Series P and Series Q warrants resulting in gross
proceeds to the Company of approximately $3.53 million. The warrants were issued in the
company's January 2020 warrant
inducement transaction. The receipt of the proceeds increases
the Company cash on hand as it continues executing on the strategy
of acquiring and in-licensing new therapeutic products for
development while seeking partners for our existing clinical
programs.
About Seneca Biopharma, Inc.
Seneca Biopharma, Inc., is a clinical-stage biopharmaceutical
company developing novel treatments for diseases of high unmet
medical need. The Company is in the process of transforming the
organization through the acquisition or in-licensing of new science
and technologies, to develop with the goal of providing meaningful
therapies for patients.
Cautionary Statement Regarding Forward Looking
Information:
This news release contains "forward-looking statements" made
pursuant to the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements
relate to future, not past, events and may often be identified by
words such as "expect," "anticipate," "intend," "plan," "believe,"
"seek" 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 Seneca's
periodic reports, including its Annual Report on Form 10-K for the
year ended December 31, 2019, filed
with the Securities and Exchange Commission (SEC), 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 Seneca Biopharma, Inc.