PDS Biotech Announces Proposed Offering of Common Stock
June 14 2021 - 4:02PM
PDS Biotechnology Corporation (Nasdaq: PDSB) (“PDS Biotech” or the
“Company”), a clinical-stage immunotherapy company developing novel
cancer therapies based on the Company’s proprietary Versamune®
T-cell activating technology, today announced that it has commenced
an underwritten public offering of shares of its common stock. All
of the shares of common stock to be sold in the offering will be
offered by PDS Biotech. PDS Biotech intends to grant the
underwriters a 30-day option to purchase up to an additional 15% of
the shares of common stock offered in the public offering. The
offering is subject to market 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
bookrunner for the offering.
PDS Biotech intends to use a portion of the net
proceeds from this offering for the development of our clinical
pipeline and for general corporate purposes including working
capital.
A shelf registration statement on Form S-3
relating to the public offering of the shares of common stock
described above was filed with the Securities and Exchange
Commission (the “SEC”) and became effective on July 31, 2020. A
preliminary prospectus supplement relating to the offering has been
filed with the SEC. Copies of the preliminary prospectus supplement
and accompanying prospectus may be obtained from Cantor Fitzgerald
& Co., 499 Park Avenue, 4th Floor, New York, NY 10022, Attn:
Capital Markets Department, or by email at
prospectus@cantor.com.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy these 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 the registration or qualification under the
securities laws of any such state or other jurisdiction.
About PDS Biotechnology
PDS Biotech is a clinical-stage immunotherapy
company developing a growing pipeline of cancer immunotherapies
based on the Company’s proprietary Versamune® T-cell activating
technology platform. Our Versamune®-based products overcome the
limitations of current immunotherapy by inducing in vivo, large
quantities of high-quality, highly potent polyfunctional tumor
specific CD4+ helper and CD8+ killer T-cells. PDS Biotech has
developed multiple therapies, based on combinations of Versamune®
and disease-specific antigens, designed to train the immune system
to better recognize diseased cells and effectively attack and
destroy them. Our immuno-oncology product candidates are initially
being studied in combination therapy to potentially enhance
efficacy without compounding toxicity across a range of cancer
types. The Company’s lead investigational cancer immunotherapy
product PDS0101 is currently in Phase 2 clinical studies in
HPV-associated cancers. The Company’s pipeline products address
various cancers including breast, colon, lung, prostate and ovarian
cancers.
Forward Looking Statements
This communication contains forward-looking
statements (including within the meaning of Section 21E of the
United States Securities Exchange Act of 1934, as amended, and
Section 27A of the United States Securities Act of 1933, as
amended) concerning PDS Biotech and other matters. These statements
may discuss goals, intentions and expectations as to future plans,
trends, events, results of operations or financial condition, or
otherwise, based on current beliefs of the Company’s management, as
well as assumptions made by, and information currently available
to, management. Forward-looking statements generally include
statements that are predictive in nature and depend upon or refer
to future events or conditions, and include words such as “may,”
“will,” “should,” “would,” “expect,” “anticipate,” “plan,”
“likely,” “believe,” “estimate,” “project,” “intend,” “forecast,”
“guidance”, “outlook” and other similar expressions among others.
Forward-looking statements are based on current beliefs and
assumptions that are subject to risks and uncertainties and are not
guarantees of future performance. Actual results could differ
materially from those contained in any forward-looking statement as
a result of various factors, including, without limitation: the
Company’s ability to complete the contemplated offering; the
Company’s anticipated capital requirements; and other factors,
including legislative, regulatory, political and economic
developments not within the Company’s control, including unforeseen
circumstances or other disruptions to normal business operations
arising from or related to COVID-19. The foregoing review of
important factors that could cause actual events to differ from
expectations should not be construed as exhaustive and should be
read in conjunction with statements that are included herein and
elsewhere, including the risk factors included in the Company’s
annual and periodic reports filed with the SEC. The forward-looking
statements are made only as of the date of this press release and,
except as required by applicable law, the Company undertakes no
obligation to revise or update any forward-looking statement, or to
make any other forward-looking statements, whether as a result of
new information, future events or otherwise.
Media & Investor Relations
Contact:
Deanne RandolphPDS BiotechPhone: +1 (908)
517-3613Email: drandolph@pdsbiotech.com
Rich CockrellCG CapitalPhone: +1 (404) 736-3838
Email: rich@cg.capital
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