Navigation Links
PlasmaTech Biopharmaceuticals, Inc. Announces Closing of Public Offering
Date:12/24/2014

DALLAS and NEW YORK, Dec. 24, 2014 /PRNewswire/ -- PlasmaTech Biopharmaceuticals, Inc. (NASDAQ: PTBI, PTBIW), a biopharmaceutical company advancing patient care in critical areas, announced the closing of an underwritten public offering of 3,500,000 shares of common stock, and warrants to purchase up to an aggregate 3,500,000 shares of common stock, at an offering price of $4.00 per share and $.01 per warrant.  The warrants have a per share exercise price of $5.00, are exercisable immediately, and expire 5 years from the date of issuance.

The gross proceeds to the Company from this offering were $14,035,000, before deducting underwriting discounts and commissions and other estimated offering expenses.  All of the shares and warrants in the offering were sold by the Company.

The shares and warrants began trading on The NASDAQ Capital Market on December 19, 2014 under the symbols "PTBI" and "PTBIW," respectively.

Commenting on the news, Scott Schorer, CEO of PlasmaTech Biopharmaceuticals, Inc. stated, "We are pleased to be moving forward with the next stage of PlasmaTech's development, and look forward to delivering on the promise of our exciting technology platforms."

The Company intends to use the net proceeds received from the offering for the clinical development and validation of its licensed SDF Plasma Process, for the continued commercialization of MuGard and Proctigard, for the development of follow-on portfolio products, and for general corporate purposes including working capital.  The Company also intends to use a portion of the net proceeds to make an upfront payment for the exclusive world-wide license of the SDF Plasma Process.

The Company has also granted the underwriters a 45-day option to purchase up to an additional 525,000 shares of common stock and/or 525,000 warrants to cover over-allotments, if any.

H.C. Wainwright & Co. and Aegis Capital Corp. are acting as joint book-running managers for this offering.

A registration statement on Form S-1 relating to the shares and warrants was filed with the Securities and Exchange Commission (SEC) and was declared effective December 18, 2014.  A final prospectus relating to the offering has been filed with the SEC and is available on the SEC's web site at http://www.sec.gov.  Copies of the final prospectus relating to the offering, when available, may be obtained from the offices of H.C. Wainwright & Co., LLC, 430 Park Avenue, New York, NY, 10022, telephone: 212-356-0527 or email: placements@hcwco.com, or Aegis Capital Corp., Prospectus Department, 810 Seventh Avenue, 18th Floor, New York, NY, 10019, telephone: 212-813-1010 or email: prospectus@aegiscap.com, or from the above-mentioned SEC website.

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.

About PlasmaTech Biopharmaceuticals, Inc.:  PlasmaTech Biopharmaceuticals, Inc. (PlasmaTech) is a biopharmaceutical company focused on advancing targeted treatments for significant unmet needs of critical patient care.  Exploiting two distinct proprietary platforms, Salt Diafiltration (SDF™) Process and Polymer Hydrogel Technology (PHT™), PlasmaTech is active in the development and commercialization of plasma-derived therapeutics and cancer supportive care products. The company has developed a robust product pipeline that includes two commercial stage products, MuGard® and ProctiGard™ as well as multiple pre-clinical follow-on products. For more information visit, www.plasmatechbio.com.

This press release contains certain statements that are forward-looking within the meaning of Section 27a of the Securities Act of 1933, as amended, and that involve risks and uncertainties. These statements include those relating to: timelines and clinical results for MuGard and ProctiGard, our ability to achieve clinical and commercial success and our ability to successfully develop marketed products. These statements are subject to numerous risks, including but not limited to PlasmaTech's need to obtain additional financing in order to continue clinical trials and operations and to the risks detailed in PlasmaTech's Annual Reports on Form 10-K and other reports filed by the Company with the Securities and Exchange Commission.

Company and Media Contact:
Harrison Wehner
President & CFO
PlasmaTech Biopharmaceuticals, Inc.
(617) 981-6955


'/>"/>
SOURCE PlasmaTech Biopharmaceuticals, Inc.
Copyright©2014 PR Newswire.
All rights reserved

Related biology technology :

1. Stephen T. Sonis, DMD, DMSc Joins PlasmaTech Biopharmaceuticals Scientific Advisory Board
2. PlasmaTech Biopharmaceuticals, Inc. Announces Reverse Stock Split, Ticker Change and Launches New Corporate Website
3. Life Cycle Management of Biopharmaceuticals, New Life Science Webinar Hosted by Xtalks
4. Keryx Biopharmaceuticals, Inc. Announces Third Quarter 2012 Financial Results
5. Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess of $100,000 Investing In Keryx Biopharmaceuticals, Inc. To Contact the Firm
6. Keryx Biopharmaceuticals, Inc. Announces Upcoming Poster Presentations of Zerenex™ (Ferric Citrate) at the Upcoming American Society of Nephrology Kidney Week 2011 Annual Meeting
7. Vermillion Announces Closing of Equity Financing
8. Nashville Fertility Center Announces Dr. George A. Hill Selected to Serve as ASRM Treasurer for 2014-15
9. Major Pipette Distributor Pipette.com Announces their Holiday in the Lab Contest
10. Vermillion Announces Equity Financing of up to $18.9 Million; Suspends ATM Program
11. CfPIE Announces Partnership with the Society for Clinical Data Management
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/11/2019)... ... June 10, 2019 , ... ... add 80 of its scientific journals to DeepDyve’s rental service for peer-reviewed journals. ... continually expanding library of more than 20 million articles, sourced from more than ...
(Date:6/11/2019)... , ... June 11, 2019 , ... ... Personalized Stem Cells Inc. (PSC) , has announced that their GMP facility ... Food and Drug Branch for manufacturing. This is an important milestone for ...
(Date:6/6/2019)... ... June 05, 2019 , ... WCCT Global, Inc ., a full-service early ... that they will be receiving 3 awards at the 2019 CRO Leadership Awards, to ... in the categories of overall Quality and Compatibility (Access to desired markets, cultural fit, ...
(Date:5/31/2019)... ... May 29, 2019 , ... ... applications from the USPTO providing proprietary interest to our methodology, processes, and ... DISORDER DIAGNOSIS AND TREATMENT… extends Somnology’s IP rights including our proprietary sleep ...
Breaking Biology Technology:
(Date:8/15/2019)... ... August 15, 2019 , ... Deep Science Ventures (DSV), a new ... a new unit dedicated to building 100 companies over the next 10 years to ... chains. , Deep Science Ventures was founded to create a better method for ...
(Date:8/14/2019)... ... August 14, 2019 , ... Join Jonathan Riek, PhD, ... on Tuesday, September 10, 2019 at 1pm EDT to learn about two common ... management. , NAFLD is the most common diffuse liver disease, with a worldwide ...
(Date:8/9/2019)... ... ... With a demand in healthcare to lower unneeded emergency room visits and provide ... in the coming years, according to a new report on the industry by market ... is a detailed look at the current state of these healthcare outlets, including the ...
Breaking Biology News(10 mins):