Zosano Pharma Corporation (Nasdaq:ZSAN), a clinical-stage biopharmaceutical company, today announced the pricing of an underwritten public offering of 15,937,130 shares of its common stock for gross proceeds of approximately $20.8 million, before deducting offering expenses payable by Zosano.  The offering is expected to close on or about September 3, 2020, subject to the satisfaction of customary closing conditions.

BTIG is the sole book-running manager for the offering. 

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission (SEC) and became effective on April 16, 2020. The offering is being made only by means of a written prospectus and prospectus supplement that will form a part of the registration statement. A preliminary prospectus supplement and the accompanying prospectus relating to the offering have been filed with the SEC and are available on the SEC’s website at www.sec.gov. A final prospectus supplement and accompanying prospectus will be filed with the SEC. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained, when available, from BTIG, LLC, 65 East 55th Street, New York, NY, 10022, by email at equitycapitalmarkets@btig.com or by telephone at (212) 593-7555.

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 Zosano Pharma

Zosano Pharma Corporation is a clinical-stage biopharmaceutical company focused on developing products where rapid administration of approved molecules with established safety and efficacy profiles may provide substantial benefit to patients, in markets where patients remain underserved by existing therapies. The company’s transdermal microneedle system technology consists of titanium microneedles coated with drug that are designed to enable rapid systemic administration of therapeutics to patients. Zosano’s lead product candidate is Qtrypta™ (M207), which is a proprietary formulation of zolmitriptan delivered via its transdermal microneedle system technology, as an acute treatment for migraine. The company anticipates that many of its current and future development programs may enable the company to utilize a regulatory pathway that has the potential to streamline clinical development and accelerate the path towards commercialization.

Forward-Looking Statements

To the extent that statements contained in this press release are not descriptions of historical facts regarding Zosano, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve substantial risks and uncertainties that could cause Zosano’s future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all. Zosano undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to Zosano’s business in general, please refer to Zosano’s preliminary prospectus supplement filed with the SEC on August 31, 2020, including the documents incorporated by reference therein, which include Zosano’s Annual Report on Form 10-K filed with the SEC on March 13, 2020, Zosano’s Quarterly Reports on Form 10-Q filed with the SEC on May 14, 2020 and August 6, 2020, and Zosano’s other periodic reports filed with the SEC.

Zosano Contact: Christine Matthews Chief Financial Officer (510) 745-1200

PR Contact: Sylvia Wheeler and Alexandra Santos swheeler@wheelhouselsa.com/asantos@wheelhouselsa.com

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