Navigation Links
Raptor Pharmaceutical Corp. Announces Closing of $7.5 Million Registered Direct Offering
Date:12/23/2009

NOVATO, Calif., Dec. 23 /PRNewswire-FirstCall/ -- Raptor Pharmaceutical Corp. ("Raptor" or the "Company") (Nasdaq: RPTP), today announced that on December 22, 2009, it completed its registered direct offering with institutional investors, raising an aggregate amount of approximately $7.5 million of gross proceeds (before placement agent fees and offering expenses) through the sale of 3,747,558 units. The units consist of one share of common stock and one warrant to purchase 0.5 of a share of common stock with a term of five years, and one warrant to purchase 0.5 of a share of common stock with a term of 18 months. Both warrants have an exercise price of $2.45 per share of common stock and are not exercisable for six months. The shares of common stock and warrants were issued separately.

Christopher M. Starr, Ph.D., CEO of Raptor, said, "This U.S.-based financing is a major milestone for Raptor, as the proceeds from this offering will enable us to move all of our principal clinical programs forward, focusing on our lead compound, DR Cysteamine, for the treatment of cystinosis. We look forward to executing our pivotal Phase 3 clinical trial for cystinosis. We are pleased with the participation of institutional investors in this offering, and appreciate the continued support of our existing long-term shareholders and welcome our new shareholders, as we work to achieve our next clinical milestones and move closer to potential commercialization of this eagerly anticipated therapeutic for cystinosis patients."

As previously disclosed, Raptor intends to use the net proceeds from the offering for general corporate purposes, including activities related to further clinical development of DR Cysteamine and for other working capital and operational purposes.

Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE Amex: LTS), acted as the exclusive placement agent for this offering. C.K. Cooper & Company acted as a selected dealer in this transaction.

The offering was made pursuant to the Form S-3 shelf registration statement declared effective by the Securities and Exchange Commission (the "SEC") on November 5, 2009. Copies of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained from the SEC's website at http://www.sec.gov, or from Ladenburg Thalmann & Co. Inc., 520 Madison Avenue, 9th Floor, New York, New York 10022.

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 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 jurisdiction.

About Raptor Pharmaceutical Corp.

Raptor Pharmaceutical Corp. (Nasdaq: RPTP) ("Raptor") is dedicated to speeding the delivery of new treatment options to patients by working to improve existing therapeutics through the application of highly specialized drug targeting platforms and formulation expertise. Raptor focuses on underserved patient populations where it can have the greatest potential impact. Raptor currently has product candidates in clinical development designed to potentially treat nephropathic cystinosis, non-alcoholic steatohepatitis ("NASH"), Huntington's Disease ("HD"), aldehyde dehydrogenase ("ALDH2") deficiency, and a non-opioid solution designed to potentially treat chronic pain.

Raptor's preclinical programs are based upon bioengineered novel drug candidates and drug-targeting platforms derived from the human receptor-associated protein ("RAP") and related proteins that are designed to target cancer, neurodegenerative disorders and infectious diseases.

For additional information, please visit www.raptorpharma.com.

FORWARD LOOKING STATEMENTS

This document contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements relate to future events or our future results of operation or future financial performance, including, but not limited to the following statements: that the proceeds from this offering will enable us to move all of our principal clinical programs forward; that we will execute our pivotal Phase 3 clinical trial for cystinosis in 2010, if at all; that we will work to achieve our next clinical milestones and move closer to potential commercialization; and that any of Raptor's clinical and preclinical drug candidates will result in approved therapeutics. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, which may cause the Company's actual results to be materially different from these forward-looking statements. Factors which may significantly change or prevent the Company's forward looking statements from fruition include: that Raptor may be unsuccessful at raising funds to continue its development programs; Raptor may be unsuccessful in developing any products or acquiring products; that Raptor's technology may not be validated as it progresses further and its methods may not be accepted by the scientific community; that Raptor is unable to retain or attract key employees whose knowledge is essential to the development of its products; that unforeseen scientific difficulties develop with the Company's process; that Raptor's patents are not sufficient to protect essential aspects of its technology; that competitors may invent better technology; and that Raptor's products may not work as well as hoped or worse, that the Company's products may harm recipients. As well, Raptor's products may never develop into useful products and even if they do, they may not be approved for sale to the public. Raptor cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date they were made. Certain of these risks, uncertainties, and other factors are described in greater detail in the Company's filings from time to time with the Securities and Exchange Commission (the "SEC"), which Raptor strongly urges you to read and consider, including Raptor's current report on Form 8-K as filed with the SEC on November 17, 2009; the joint proxy statement/prospectus on Form S-4 filed with the SEC on August 19, 2009; Raptor's annual report on Form 10-K filed with the SEC on March 27, 2009; and Raptor's quarterly report on Form 10-Q filed with the SEC on August 11, 2009, all of which are available free of charge on the SEC's web site at http://www.sec.gov. Subsequent written and oral forward-looking statements attributable to Raptor or to persons acting on its behalf are expressly qualified in their entirety by the cautionary statements set forth in Raptor's reports filed with the SEC. Raptor expressly disclaims any intent or obligation to update any forward-looking statements.


    For more information, please contact:

    Kim R. Tsuchimoto, CFO
    (415) 382-1390
    ktsuchimoto@raptorpharma.com

    The Ruth Group

    Sara Ephraim Pellegrino (investors)
    (646) 536-7002
    spellegrino@theruthgroup.com

    Janine McCargo (media)
    (646) 536-7033
    jmccargo@theruthgroup.com

SOURCE Raptor Pharmaceutical Corp.


'/>"/>
SOURCE Raptor Pharmaceutical Corp.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine technology :

1. Raptor Pharmaceutical Corp. Announces $7.5 Million Securities Offering
2. Raptor Pharmaceutical Corp. Announces Positive Data on NGX426 in the Potential Treatment of Neuropathic Pain
3. Raptor Pharmaceutical Completes DR Cysteamine Phase 2b Clinical Trial in Cystinosis
4. Raptor Pharmaceutical Corporation Announces Presentation of Data for NGX426, a Novel, Non-Opioid Oral Analgesic, at Neuropathic Pain Conference
5. Merriman Curhan Ford Acted as Financial Advisor to TorreyPines Therapeutics, Inc. in the Completed Merger With Raptor Pharmaceuticals Corp.
6. Raptor Pharmaceutical Expands Board of Directors
7. Raptor Pharmaceuticals Corp. and TorreyPines Complete Merger
8. Raptor Pharmaceuticals Receives Notices of Allowance for Two NeuroTrans(TM) Patent Applications
9. Raptor Pharmaceuticals Appoints Dr. Patrice P. Rioux as Chief Medical Officer
10. Raptor Pharmaceuticals Announces Completion of Patient Enrollment in Phase 2a Clinical Trial in Non-Alcoholic Steatohepatitis (NASH)
11. Raptor Pharmaceuticals Corp. Announces Positive Phase IIa Clinical Study Results for Convivia(TM) Program
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/28/2016)... , April 28, 2016  While Abbott,s ... complement the company,s valve repair and stent business, ... also places Abbott more firmly into patient monitoring.  ... the fastest growing device areas, with double-digit growth ... recent report,  Advanced Remote Patient Monitoring ...
(Date:4/28/2016)... Research and Markets has announced the addition ... report to their offering.      (Logo: ... plastic surgery products market is expected to grow at ... ,The growing adoption of laser in aesthetics is another ... Lasers are used to treat a broad range of ...
(Date:4/28/2016)... April 28, 2016  Marking its one year ... and ovarian cancer risk test, Color Genomics ... genes that highly impact the most common hereditary ... the Color Test analyzes hereditary cancer risks for ... uterine cancers. The Color Test is physician ordered ...
Breaking Medicine Technology:
(Date:4/28/2016)... ... ... Card reminds us that May is National Stroke Awareness Month. According to the Centers ... in the United States; someone has one every 40 seconds. Annually, almost 800,000 strokes ... old. A stroke is when blood flow to the brain is blocked or when ...
(Date:4/28/2016)... ... April 28, 2016 , ... Point ... miniature microphones and headsets announced today that the US Patent Office has approved ... into a structure. This innovative design creates a lightweight and modular audio headset ...
(Date:4/28/2016)... ... April 28, 2016 , ... Accreditation Commission for ... Pharmacy Association (COPA) to develop a comprehensive Specialty Pharmacy Accreditation with Distinction in ... accreditation distinction. ACHC provides a wide range of pharmacy accreditation services that assess ...
(Date:4/28/2016)... ... April 28, 2016 , ... Starting today, households ... mail from USA Medical Prescription Assistance Program. They are customized to reflect the ... package will include a ready-to-use, state-themed card and, in the near future, material ...
(Date:4/28/2016)... (PRWEB) , ... April 28, 2016 , ... For the ... means getting smarter about an important part of overall well-being: mental health. Now, a ... do to promote healthy aging and “cognitive vitality,” which can include everything from honing ...
Breaking Medicine News(10 mins):