CohBar Announces Proposed Public Offering of Common Stock and Warrants
October 27 2021 - 4:01PM
CohBar, Inc. (NASDAQ: CWBR) (the “Company”), a clinical stage
biotechnology company developing mitochondria based therapeutics to
treat chronic diseases and extend healthy lifespan, today announced
a proposed underwritten public offering of shares of the Company’s
common stock and accompanying warrants to purchase common stock.
Each warrant will be exercisable for 5 years from the closing date
of the offering. All of the securities to be sold in the offering
are being offered by the Company. The offering is subject to
market and other conditions, and there can be no assurance as to
whether or when the offering may be completed, or as to the actual
size or terms of the offering.
Cantor Fitzgerald & Co. is acting as sole
book-running manager for the offering, and Brookline Capital
Markets, a division of Arcadia Securities, LLC, is acting as
co-manager.
CohBar intends to use the net proceeds from
the offering, together with its existing cash resources, for
general corporate purposes, which may include funding preclinical
and clinical development of its peptides, increasing working
capital, operating expenses and capital expenditures.
The securities will be issued pursuant to an
effective shelf registration statement filed with
the Securities and Exchange Commission (SEC)
on August 24, 2020. 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. When available, copies of the prospectus
supplement, together with the accompanying prospectus, can be
obtained at the SEC’s website at www.sec.gov or from Cantor
Fitzgerald & Co., Attn: Capital Markets, 499 Park Ave., 4th
Floor, New York, New York 10022, or by e-mail at
prospectus@cantor.com.
This press release does not and shall not
constitute an offer to sell or the solicitation of an offer to buy
any securities, nor shall 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.
Any offer, if at all, will be made only by means of a prospectus,
including a prospectus supplement, forming a part of the effective
registration statement.
About CohBar
CohBar (NASDAQ: CWBR) is a clinical stage
biotechnology company focused on the research and development of
mitochondria based therapeutics, an emerging class of drugs for the
treatment of chronic and age-related diseases. Mitochondria based
therapeutics originate from the discovery by CohBar’s founders of a
novel group of naturally occurring peptide sequences within the
mitochondrial genome, some of which have been shown to have the
potential to regulate key processes in multiple systems and organs
in the body. To date, the company has discovered more than 100
mitochondrial derived peptides and generated over 1,000 analogs.
CohBar’s efforts focus on the development of these peptides into
therapeutics that offer the potential to address a broad range of
diseases associated with the underlying impact of mitochondrial
dysfunction. The company’s lead compound, CB4211, which is under
development for the treatment of NASH and obesity, recently
completed a successful Phase 1a/1b clinical trial. In addition,
CohBar has four preclinical programs, the most advanced of which is
CB5138-3, a peptide with broad anti-fibrotic and anti-inflammatory
properties. This program is currently in IND-enabling studies with
the goal of filing an IND and initiating a First-in-Human study in
2022 with an initial indication of idiopathic pulmonary fibrosis.
The company also has a program in ARDS, including COVID-19
associated ARDS, as well as two peptide families with potential
utility in treating various forms of cancer.
Forward-Looking Statements
Certain of the statements made in this press release are forward
looking, such as those, among others, relating to CohBar’s
expectations regarding the completion, timing and size of the
proposed offering. Actual results or developments may differ
materially from those projected or implied in these forward-looking
statements. Factors that may cause such a difference include,
without limitation, risks and uncertainties related to whether or
not CohBar will be able to raise capital through the sale of its
securities, the final terms of the proposed offering, market and
other conditions, and the satisfaction of customary closing
conditions related to the proposed public offering. There can be no
assurance that CohBar will be able to complete the proposed public
offering on the anticipated terms, or at all. You should not place
undue reliance on these forward-looking statements, which apply
only as of the date of this press release. Additional risks and
uncertainties relating to the proposed public offering, CohBar and
its business can be found under the heading “Risk Factors” in
CohBar’s Quarterly Report on Form 10-Q for the quarter ended June
30, 2021, and other filings with the SEC, and in the preliminary
prospectus supplement related to the proposed public offering to be
filed with the SEC on or about the date hereof. Except as otherwise
required by law, CohBar does not undertake any obligation to update
forward-looking statements and expressly disclaims any obligation
or undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change
in its expectations with regard thereto or any change in events,
conditions or circumstances on which any such statements are
based.
Contacts: Jordyn TaraziDirector of Investor
RelationsCohBar, Inc.(650) 445-4441jordyn.tarazi@cohbar.com
CohBar (NASDAQ:CWBR)
Historical Stock Chart
From Jun 2024 to Jul 2024
CohBar (NASDAQ:CWBR)
Historical Stock Chart
From Jul 2023 to Jul 2024