COCRYSTAL PHARMA, INC. PRICES $3,000,000 UNDERWRITTEN PUBLIC OFFERING
October 31 2019 - 9:00AM
COCRYSTAL PHARMA, INC. (NASDAQ: COCP) (“Cocrystal” or
the “Company”), a clinical stage biotechnology company
discovering and developing novel antiviral therapeutics, today
announced the pricing of an underwritten public offering with
gross proceeds to the Company expected to be approximately $3.0
million before deducting underwriting discounts and expenses. The
proposed offering equates to 3,529,412 shares of common stock at
$0.85 per share. The Company intends to use the net proceeds for
working capital and other general corporate purposes.
The Company also granted the underwriters a
45-day option to purchase up to 529,411 additional shares of common
stock to cover over-allotments, if any, at the public offering
price. The offering is expected to close on or about November 4,
2019, subject to the satisfaction of customary closing
conditions.
Aegis Capital Corp. is acting as sole
book-runner for the offering.
This offering is being made pursuant to an
effective shelf registration statement on Form S-3 (File No.
333-220632) previously filed with the U.S. Securities and Exchange
Commission (the “SEC”). A prospectus supplement describing the
terms of the proposed offering will be filed with the SEC and will
be available on the SEC’s website located at http://www.sec.gov.
Electronic copies of the prospectus supplement may be obtained,
when available, from Aegis Capital Corp., Attention: Prospectus
Department, 810 7th Avenue, 18th floor, New York, NY 10019, by
email at prospectus@aegiscap.com, or by telephone at (212)
813-1010. Before investing in this offering, interested parties
should read in their entirety the prospectus supplement and the
accompanying prospectus and the other documents that the Company
has filed with the SEC that are incorporated by reference in such
prospectus supplement and the accompanying prospectus, which
provide more information about the Company and such offering.
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 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 Cocrystal Pharma, Inc.
Cocrystal Pharma, Inc. is a clinical stage
biotechnology company discovering and developing novel antiviral
therapeutics that target the replication machinery of influenza
viruses, hepatitis C viruses, and noroviruses.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, including statements related to our ability to
complete the financing, our intended use of proceeds and other
statements that are not historical fact. We have based these
forward-looking statements largely on our current expectations and
projections about future events. Some or all of the events
anticipated by these forward-looking statements may not occur.
Important factors that could cause actual results to differ from
those in the forward-looking statements include, but are not
limited to, the risk that the public offering may not occur, risks
arising from our reliance on continuing collaboration with Merck
under the collaboration agreement, the availability of products
manufactured by third parties, the future results of preclinical
and clinical studies, the research organization’s inability to
recruit subjects and complete the Phase 2a study in a timely manner
or at all, including as the result of civil unrest and political
instability in Hong Kong, general risks arising from clinical
trials, receipt of regulatory approvals, our ability to find and
enter into agreements with suitable collaboration partners,
unanticipated litigation and other expenses and factors that affect
the capital markets in general and early stage biotechnology
companies specifically. Further information on our risk factors is
contained in our filings with the SEC, including our Annual Report
on Form 10-K for the year ended December 31, 2018 and the Form 10-Q
for the quarter ended June 30, 2019. Any forward-looking statement
made by us herein speaks only as of the date on which it is made.
Factors or events that could cause our actual results to differ may
emerge from time to time, and it is not possible for us to predict
all of them. We undertake no obligation to publicly update any
forward-looking statement, whether as a result of new information,
future developments or otherwise, except as may be required by
law.
Investor and Media Contact
Jenene Thomas Communications, LLC (833) 475-8247
COCP@jtcir.com
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