PALO ALTO, Calif., May 23, 2018 /PRNewswire/ -- Eiger
BioPharmaceuticals, Inc. (NASDAQ: EIGR), a clinical-stage
biopharmaceutical company focused on bringing to market novel
product candidates for the treatment of rare diseases, announced
today that it has commenced an underwritten public offering of its
common stock. Eiger intends to grant the underwriters a
30-day option to purchase up to an additional 15% of the shares of
common stock offered in the public offering on the same terms and
conditions to cover over-allotments, if any. All of the
shares of common stock to be sold in the offering will be offered
by Eiger. The offering is subject to market conditions, and
there can be no assurance as to whether or when the offering may be
completed, or the actual size or terms of the
offering.
Piper Jaffray & Co. is acting
as the lead bookrunner. BTIG, LLC is also acting as a
bookrunner. Ladenburg Thalmann is acting as co-manager.
Eiger plans to use the net proceeds from the offering to fund
its planned Phase 3 clinical trial of lonafarnib in Hepatitis Delta
Virus infection, regulatory development of lonafarnib related to
the treatment of Hutchison-Gilford Progeria Syndrome, and for
working capital and other general corporate purposes.
The shares described above are being offered by Eiger
BioPharmaceuticals pursuant to a shelf registration statement on
Form S-3, including a base prospectus, that was previously filed by
Eiger with the Securities and Exchange Commission (the "SEC") on
December 8, 2017 and became effective
on December 20, 2017. A
preliminary prospectus supplement and accompanying prospectus
relating to the offering will be filed with the SEC and will be
available on the SEC's website located at http://www.sec.gov.
When available, copies of the preliminary prospectus supplement
and the accompanying prospectus relating to these securities will
be available on the Investor Relations section of the Company's
website and on the SEC's website located at http://www.sec.gov.
Copies may also be obtained by contacting Piper Jaffray & Co., Attention: Prospectus
Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, or by telephone at
800-747-3924, or by e-mail at prospectus@pjc.com, or by contacting
BTIG, LLC, 825 Third Avenue, 6th Floor, New York, NY 10022, by telephone at (212)
593-7555, or by e-mail at equitycapitalmarkets@btig.com. This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities nor will there be
any sale of these securities in any state or other 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 other jurisdiction.
About Eiger
Eiger is a clinical-stage
biopharmaceutical company focused on bringing to market novel
product candidates for the treatment of rare diseases. Eiger
is committed to translational innovation and the development of
well-characterized drugs acting on newly identified or novel
targets. Eiger's mission is to systematically reduce the time
and cost of the drug development process to more rapidly deliver
important medicines to patients with rare diseases. Eiger's
lead program is advancing lonafarnib in Hepatitis Delta Virus
infection into Phase 3 with a single, pivotal trial planned to
initiate by the end of the year.
Note Regarding Forward-Looking Statements
This press release contains "forward-looking" statements that
involve substantial risks and uncertainties. For example,
forward-looking statements include statements regarding: the
completion, timing and size of the proposed public offering.
These statements are subject to various risks and uncertainties,
actual results could differ materially from those projected and
Eiger cautions investors not to place undue reliance on the
forward-looking statements in this press release. These risks
and uncertainties include, without limitation, risks and
uncertainties related to market conditions and satisfaction of
customary closing conditions related to the public offering.
There can be no assurance that Eiger will be able to complete
the public offering on the anticipated terms, or at all.
Risks and uncertainties relating to Eiger and its business
can be found under the heading "Risk Factors" in Eiger's quarterly
report on Form 10-Q filed with the SEC on May 11, 2018, and in the preliminary prospectus
supplement related to the proposed offering to be filed with the
SEC. Except as otherwise required by law, Eiger disclaims any
intention or obligation to update or revise any forward-looking
statements, which speak only as of the date hereof, whether as a
result of new information, future events or circumstances or
otherwise.
Investors: Ingrid Choong, PhD
Eiger BioPharmaceuticals, Inc.
1-650-619-6115, ichoong@eigerbio.com
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SOURCE Eiger BioPharmaceuticals, Inc.