Navigation Links
PharmAthene Completes $6.5 Million Registered Direct Offering
Date:6/15/2011

ANNAPOLIS, Md., June 15, 2011 /PRNewswire/ -- PharmAthene, Inc. (NYSE Amex: PIP), a biodefense company developing medical countermeasures against biological and chemical threats, announced today that it has completed a previously announced registered direct offering raising gross proceeds for the Company of approximately $6.5 million.

Under the terms of the subscription agreements, PharmAthene sold an aggregate of 1,857,143 units to certain institutional investors for a purchase price of $3.50 per unit, with each unit consisting of one share of common stock and one warrant to purchase 0.2 of a share of common stock.  The warrants have a five year term and are immediately exercisable at an exercise price of $3.50 per share.

The net proceeds to the Company are approximately $5.8 million after placement agent fees and other offering expenses.  PharmAthene intends to use the net proceeds from the offering for general corporate purposes.

Leerink Swann served as lead placement agent and Noble Financial Capital Markets served as co-placement agent in the offering.  The securities described above were offered by PharmAthene pursuant to a registration statement previously filed and declared effective by the Securities and Exchange Commission.  Additional information and details with respect to the offering are included in a prospectus supplement that PharmAthene has filed with the Securities and Exchange Commission. The registration statement and prospectus supplement may be obtained from the Securities and Exchange Commission's website at www.sec.gov. This press release does not constitute an offer to sell, nor is it a solicitation of an offer to buy any securities, nor shall there be any sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. The securities may be offered only by means of the prospectus supplement and the related prospectus.

About PharmAthene, Inc.

PharmAthene is a biodefense company engaged in the development and commercialization of medical countermeasures against biological and chemical weapons.  Its current lead product candidates are:

  • SparVax™, a second generation recombinant protective antigen ("rPA") anthrax vaccine
  • Valortim®, a fully human monoclonal antibody for the prevention and treatment of anthrax infection, and
  • BChE (recombinant butyrylcholinesterase), - countermeasures for nerve agent poisoning by organophosphorous compounds, including nerve gases and pesticides

Statement on Cautionary Factors

Except for the historical information presented herein, matters discussed may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Statements that are not historical facts, including statements preceded by, followed by, or that include the words "potential"; "believe"; "anticipate"; "intend"; "plan"; "expect"; "estimate"; "could"; "may"; "should"; "will"; "project"; "potential"; or similar statements are forward-looking statements. PharmAthene disclaims any intent or obligation to update these forward-looking statements other than as required by law. Risks and uncertainties include risk associated with the reliability of the results of the studies relating to human safety and possible adverse effects resulting from the administration of the Company's product candidates, unexpected funding delays and/or reductions or elimination of U.S. government funding for one or more of the Company's development programs, the award of government contracts to our competitors, unforeseen safety issues, challenges related to the development, scale-up, technology transfer, and/or process validation of manufacturing processes for our product candidates, unexpected determinations that these product candidates prove not to be effective and/or capable of being marketed as products, challenges related to the implementation of our NYSE Amex compliance plan as well as risks detailed from time to time in PharmAthene's Forms 10-K and 10-Q under the caption "Risk Factors" and in its other reports filed with the U.S. Securities and Exchange Commission (the "SEC"). In particular, there can be no assurance that the Company will prevail in its lawsuit against Siga, or that even if the court rules in the Company's favor, the court will award monetary damages or other remedies adequate to fully compensate the Company for its losses. Further, significant additional non-clinical animal studies, human clinical trials, and manufacturing development work remain to be completed for Valortim®. Copies of PharmAthene's public disclosure filings are available from its investor relations department and our website under the investor relations tab at www.PharmAthene.com


'/>"/>
SOURCE PharmAthene, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. PharmAthene Reports First Quarter 2011 Financial and Operating Results
2. PharmAthene to Host Year-End 2010 Earnings Conference Call and Webcast on Monday, March 28, 2011
3. PharmAthene Strengthens Scientific Leadership and Program Management for Future Growth
4. PharmAthene Receives FDA Clearance to Reinitiate Clinical Testing of Valortim®
5. PharmAthene Reports Third Quarter 2010 Financial and Operational Results
6. PharmAthene Receives Four Therapeutic Discovery Project Grants Totaling Approximately $850,000
7. PharmAthene Announces Pricing of $15 Million Public Offering
8. PharmAthene Announces Proposed Common Stock Offering
9. PharmAthene Announces $3.9 Million Registered Direct Offering
10. PharmAthene CEO To Participate on Biosecurity Panel at the 2010 BIO International Conference
11. PharmAthene Appoints Mitchel Sayare, Ph.D. to the Companys Board of Directors
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... /PRNewswire/ - FACIT has announced the creation of ... company, Propellon Therapeutics Inc. ("Propellon" or "the Company"), ... portfolio of first-in-class WDR5 inhibitors for the treatment ... represent an exciting class of therapies, possessing the ... cancer patients. Substantial advances have been achieved with ...
(Date:6/23/2016)... June 23, 2016  The Prostate Cancer Foundation (PCF) is pleased ... and faster cures for prostate cancer. Members of the Class of 2016 were ... Read More About the Class of 2016 PCF Young ... ... ...
(Date:6/23/2016)... ... 2016 , ... STACS DNA Inc., the sample tracking software company, today announced ... has joined STACS DNA as a Field Application Specialist. , “I am thrilled ... COO of STACS DNA. “In further expanding our capacity as a scientific integrator, Hays ...
(Date:6/23/2016)... , June 23, 2016 ... Hematology Review, 2016;12(1):22-8 http://doi.org/10.17925/OHR.2016.12.01.22 ... , the peer-reviewed journal from touchONCOLOGY, Andrew ... escalating cost of cancer care is placing an ... result of expensive biologic therapies. With the patents ...
Breaking Biology Technology:
(Date:4/19/2016)... April 20, 2016 The new ... a compact web-based "all-in-one" system solution for all door ... reader or the door interface with integration authorization management ... control systems. The minimal dimensions of the access control ... the building installations offer considerable freedom of design with ...
(Date:4/14/2016)... April 14, 2016 BioCatch ... Detection, today announced the appointment of Eyal Goldwerger ... role. Goldwerger,s leadership appointment comes at a ... of the deployment of its platform at several of ... technology, which discerns unique cognitive and physiological factors, is ...
(Date:3/31/2016)... 2016  Genomics firm Nabsys has completed a financial ... Bready , M.D., who returned to the company in ... leadership team, including Chief Technology Officer, John Oliver ... Nurnberg and Vice President of Software and Informatics, ... Dr. Bready served as CEO of Nabsys from ...
Breaking Biology News(10 mins):