Bellerophon Announces Closing of $15.3 Million Registered Direct Offering of Common Stock
April 01 2020 - 1:06PM
Bellerophon Therapeutics, Inc. (Nasdaq: BLPH) (“Bellerophon” or the
“Company”), a clinical-stage biotherapeutics company, closed its
previously announced registered direct offering of 1,275,000 shares
of its common stock at a purchase price of $12.00 per share for
total gross proceeds of $15.3 million, before deducting placement
agent fees and offering expenses.
Bellerophon currently intends to use the net
proceeds from this offering for working capital, general corporate
purposes, and other research and development efforts.
H.C. Wainwright & Co. acted as the exclusive
placement agent for the offering.
The shares were offered by Bellerophon pursuant
to a “shelf” registration statement on Form S-3 that was initially
filed on June 25, 2018 and declared effective by the Securities and
Exchange Commission (“SEC”) on July 6, 2018 and the prospectus
contained therein (File No. 333-225878). The offering of shares of
common stock was made only by means of a prospectus supplement that
forms a part of the effective registration statement. Electronic
copies of the final prospectus supplement and accompanying base
prospectus may be obtained from the SEC’s website at
http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC
at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at
646-975-6996 or e-mail at placements@hcwco.com.
This press release shall not constitute an offer
to sell, or the solicitation of an offer to buy any of the
securities described herein, nor shall there be any sale of these
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Bellerophon
Bellerophon Therapeutics is a clinical-stage
biotherapeutics company focused on developing innovative therapies
that address significant unmet medical needs in the treatment of
cardiopulmonary diseases. The Company is currently developing
multiple product candidates under its INOpulse® program, a
proprietary pulsatile nitric oxide delivery system. For more
information, please visit www.bellerophon.com.
Forward-looking Statements
Any statements in this press release about
Bellerophon’s future expectations, plans and prospects, including
statements about the intended use of net proceeds from the
registered direct offering as well as statement about the clinical
development of its product candidates, regulatory actions with
respect to the Company’s clinical trials and expectations regarding
the sufficiency of the Company’s cash balance to fund clinical
trials, operating expenses and capital expenditures, and other
statements containing the words “anticipate,” “believe,”
“continue,” “contemplate,” “could,” “estimate,” “expect,” “intend,”
“may,” “plan,” “potential,” “predict,” “project,” “should,”
“target,” “will,” “would,” and similar expressions, constitute
forward-looking statements within the meaning of The Private
Securities Litigation Reform Act of 1995. Actual results may differ
materially from those indicated by such forward-looking statements
as a result of various important factors, including: INOpulse® may
prove not to be an effective treatment for COVID-19 or approved for
marketing by the FDA, market and other conditions, the
uncertainties inherent in the initiation of future clinical trials,
availability and timing of data from ongoing and future clinical
trials and the results of such trials, whether preliminary or
interim results from a clinical trial will be predictive of the
final results of that trial or whether results of early clinical
trials will be indicative of the results of later clinical trials,
expectations for regulatory approvals, the FDA’s substantial
discretion in the approval process, availability of funding
sufficient for our foreseeable and unforeseeable operating expenses
and capital expenditure requirements and other factors discussed in
the “Risk Factors” section of the Company’s most recent Annual
Report on Form 10-K and in subsequent filings with
the Securities and Exchange Commission. In addition, any
forward-looking statements included in this press release represent
Bellerophon’s views only as of the date of this release and should
not be relied upon as representing the Company’s views as of any
subsequent date. The Company specifically disclaims any obligation
to update any forward-looking statements included in this press
release, except as required by law.
Contacts
At Bellerophon: |
|
At LifeSci Advisors: |
Fabian Tenenbaum, Chief Executive Officer |
|
Brian Ritchie |
(908) 574-4767 |
|
(212) 915-2578 |
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