SAN JOSE, Calif., March 22, 2021 /PRNewswire/ -- Anixa Biosciences,
Inc. (NASDAQ: ANIX) ("Anixa" or the "Company"), a
biotechnology company focused on the treatment and prevention of
cancer and infectious diseases, today announced that it has entered
into an underwriting agreement with H.C. Wainwright & Co. under
which the underwriter has agreed to purchase on a firm commitment
basis 1,904,762 shares of common stock of the Company at a public
offering price of $5.25 per share,
less underwriting discounts and commissions. The Company also
has granted the underwriter a 30-day option to purchase up to an
additional 285,714 shares of common stock at the public offering
price, less underwriting discounts and commissions. The
offering is expected to close on or about March 25, 2021, subject to satisfaction of
customary closing conditions.
H.C. Wainwright & Co. is acting as the sole book-running
manager for the offering.
The gross proceeds of the offering are expected to be
approximately $10 million, prior to
deducting underwriting discounts and commissions and estimated
offering expenses payable by the Company and excluding the exercise
of the underwriter's option to purchase additional shares. The
Company intends to use the net proceeds from this offering for
general corporate purposes, including, but not limited to, ongoing
research and pre-clinical studies, clinical trials, the development
of new biological and pharmaceutical technologies, investing in or
acquiring companies that are synergistic with or complementary to
its technologies, and licensing activities related to current and
future product candidates and working capital.
The shares of common stock are being offered pursuant to an
effective registration statement on Form S-3 (File No. 333-232067)
that was filed with the U.S. Securities and Exchange
Commission ("SEC") on June 11,
2019 and declared effective on June 21, 2019. The
shares of common stock may be offered only by means of a prospectus
supplement forming a part of the effective registration statement.
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 at www.sec.gov.
Electronic copies of the preliminary prospectus supplement and
accompanying prospectus relating to the offering, when filed, may
be obtained from H.C. Wainwright & Co., LLC, 430 Park
Avenue, New York, NY 10022, by
email at placements@hcwco.com or by phone at (212)
856-5711.
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 Anixa
Anixa Biosciences, Inc. is a publicly-traded biotechnology
company developing a number of programs addressing cancer and
infectious disease. Anixa's therapeutics portfolio includes a
cancer immunotherapy program which uses a novel type of CAR-T,
known as chimeric endocrine receptor T-cell (CER-T) technology, and
a Covid-19 therapeutics program focused on inhibiting certain viral
protein function. The company's vaccine portfolio includes a
vaccine to prevent breast cancer, and specifically triple negative
breast cancer (TNBC), the most deadly form of the disease, and a
vaccine to prevent ovarian cancer. These vaccine technologies
focus on immunizing against specific proteins that have been found
to be expressed in certain forms of cancer. Anixa's
therapeutic and vaccine programs are currently in the research or
pre-clinical stage of development. Anixa continually examines
emerging technologies in complementary fields for further
development and commercialization. Additional information is
available at www.anixa.com.
Forward-Looking Statements
This press release may contain "forward-looking" statements
within the meaning of Section 27A of the Securities Act of 1933,
and Section 21E of the Securities Exchange Act of 1934. These
include statements preceded by, followed by or that otherwise
include the words "believes," "expects," "anticipates,"
"estimates," "projects," "intends," "should," "seeks," "future,"
"continue," or the negative of such terms, or other comparable
terminology. Forward-looking statements relating to expectations
about future results or events are based upon information available
to Anixa as of today's date and are not guarantees of the future
performance of the company, and actual results may vary materially
from the results and expectations discussed. Some of the risks and
other factors that could cause the results to differ materially
from those expressed in the forward-looking information include,
but are not limited to: market and other conditions, the completion
of the public offering, the satisfaction of customary closing
conditions related to the public offering and the intended use of
net proceeds from the public offering. . Additional information
concerning these and other risks is contained in Anixa's most
recently filed Annual Report on Form 10-K, Quarterly Report on Form
10-Q, recent Current Reports on Form 8-K and other SEC filings. All
subsequent written and oral forward-looking statements concerning
Anixa, or other matters and attributable to Anixa or any person
acting on its behalf are expressly qualified in their entirety by
the cautionary statements above. Anixa does not undertake any
obligation to publicly update any of these forward-looking
statements to reflect events or circumstances that may arise after
the date hereof, except as required by law.
Anixa Investor contact:
Mike Catelani
mcatelani@anixa.com
408-708-9808
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SOURCE Anixa Biosciences, Inc.