Bio-Path Holdings, Inc. Announces Pricing of $13.0 Million Public Offering of Common Stock
February 16 2021 - 7:15AM
Bio-Path Holdings, Inc., (Nasdaq:BPTH), a biotechnology company
leveraging its proprietary DNAbilize® liposomal delivery and
antisense technology to develop a portfolio of targeted nucleic
acid cancer drugs, today announced the pricing of its previously
announced public offering for the offering of 1,710,600 shares of
common stock at a price to the public of $7.60 per share, for
aggregate gross proceeds to the Company of approximately $13.0
million, before deducting the fees and estimated offering expenses
payable by the Company. The offering is expected to close on or
about February 18, 2021, subject to customary closing conditions.
Roth Capital Partners acted as the sole
placement agent for the offering.
Bio-Path currently intends to use the net
proceeds from the offering for working capital and general
corporate purposes.
A shelf registration statement on Form S-3
(Registration No. 333-231537) relating to the public offering of
the shares of common stock described above was filed with the
Securities and Exchange Commission (“SEC”) and was declared
effective on June 5, 2019. A prospectus supplement relating to the
shares of common stock will be filed with the SEC. When available,
copies of the prospectus supplement, together with the accompanying
prospectus, can be obtained from Roth Capital Partners, LLC, 888
San Clemente Drive, Suite 400, Newport Beach, CA 92660, Attn:
Prospectus Department, telephone: 800-678-9147 or at the SEC’s
website at http://www.sec.gov.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy, nor shall there be
any sale of these securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
jurisdiction.
About Bio-Path Holdings,
Inc.
Bio-Path is a biotechnology company developing
DNAbilize®, a novel technology that has yielded a pipeline of RNAi
nanoparticle drugs that can be administered with a simple
intravenous infusion. Bio-Path’s lead product candidate,
prexigebersen (BP1001, targeting the Grb2 protein), is in a Phase 2
study for blood cancers and prexigebersen-A, a drug product
modification of prexigebersen, is under consideration by the FDA to
commence Phase 1 studies in solid tumors. This is followed by
BP1002, targeting the Bcl-2 protein, where it is being evaluated in
lymphoma clinical studies.
For more information, please visit the Company's
website at www.biopathholdings.com.
Forward-Looking Statements
This press release contains forward-looking
statements that are made pursuant to the safe harbor provisions of
the federal securities laws, including statements regarding our
business operations, the offering of shares of common stock
described above, including those relating to the size thereof and
the intended use of proceeds from the offering. These statements
are based on management's current expectations and accordingly are
subject to uncertainty and changes in circumstances. Any express or
implied statements contained in this press release that are not
statements of historical fact may be deemed to be forward-looking
statements. Any statements that are not historical facts contained
in this release are forward-looking statements that involve risks
and uncertainties, including the impact, risks and uncertainties
related to COVID-19 and actions taken by governmental authorities
or others in connection therewith, Bio-Path’s ability to raise
needed additional capital on a timely basis in order for it to
continue its operations, Bio-Path's ability to have success in the
clinical development of its technologies, the timing of enrollment
and release of data in such clinical studies and the accuracy of
such data, limited patient populations of early stage clinical
studies and the possibility that results from later stage clinical
trials with much larger patient populations may not be consistent
with earlier stage clinical trials, the maintenance of intellectual
property rights, that patents relating to existing or future patent
applications will be issued or that any issued patents will provide
meaningful protection of our drug candidates, risks relating to
maintaining Bio-Path's listing on the Nasdaq Capital Market and
such other risks which are identified in Bio-Path's most recent
Annual Report on Form 10-K, in any subsequent quarterly reports on
Form 10-Q and in other reports that Bio-Path files with the
Securities and Exchange Commission from time to time. These
documents are available on request from Bio-Path Holdings or at
www.sec.gov. Bio-Path disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
Contact Information:
Investors
Will O’ConnorStern Investor
Relations212-362-1200will@sternir.com
Doug MorrisInvestor RelationsBio-Path Holdings,
Inc.832-742-1369
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