SAN DIEGO--(BUSINESS WIRE)--AmpliPhi Biosciences Corporation (NYSEMKT:APHB), a biotechnology company focused on the discovery, development and commercialization of novel phage therapeutics, today announced the pricing of an underwritten public offering of 5,335,000 shares of its common stock and warrants to purchase up to an aggregate of 5,335,000 shares of common stock. Each share of common stock is being sold together with a warrant to purchase one share of common stock at a combined price to the public of $0.75 per share and accompanying warrant. The warrants will be immediately exercisable at a price of $0.75 per share of common stock and will expire five years from the date of issuance. The shares of common stock and warrants will be issued separately and will be immediately separable upon issuance. The offering is expected to close on or about November 22, 2016, subject to customary closing conditions.
The net proceeds to AmpliPhi from this offering are expected to be approximately $3.8 million, after deducting underwriting discounts and commissions and before deducting other offering expenses payable by AmpliPhi, and excluding any proceeds that may be received upon exercise of the warrants. AmpliPhi anticipates using the net proceeds from the offering for general corporate purposes, including manufacturing expenses, clinical trial expenses, research and development expenses and general and administrative expenses.
Roth Capital Partners is acting as the sole book-running manager for the offering and Griffin Securities, Inc. is acting as the co-manager.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission (SEC) on November 16, 2016. The offering is being made only by means of a prospectus forming part of the effective registration statement. Copies of the final prospectus relating to the offering, when available, may be obtained for free by visiting the SEC’s website at http://www.sec.gov, or alternatively from the offices of Roth Capital Partners, LLC, 888 San Clemente Drive, Newport Beach, CA 92660, or by telephone at (800) 678-9147.
This press release shall not constitute an offer to sell or a 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 AmpliPhi Biosciences
AmpliPhi Biosciences Corporation
is a biotechnology company focused on the development and
commercialization of novel bacteriophage-based antibacterial
therapeutics. AmpliPhi's product development programs target infections
that are often resistant to existing antibiotic treatments. AmpliPhi is
currently conducting a Phase 1 clinical trial of AB-SA01 for the
treatment of Staphylococcus aureus in chronic rhinosinusitis
patients and another Phase 1 clinical trial to evaluate the safety of
AB-SA01 when administered topically to the intact skin of healthy
adults. AmpliPhi is also developing bacteriophage therapeutics targeting Pseudomonas
aeruginosa and Clostridium difficile in
collaboration with a number of leading organizations focused on the
advancement of bacteriophage-based therapies.
About Bacteriophage
Bacteriophage are naturally occurring
viruses that are highly specific for the bacterial hosts they infect.
They can rapidly kill their host, amplifying themselves in the process.
Bacteriophage are unaffected by antibiotic resistance and are able to
disrupt bacterial biofilms. Such biofilms are a major line of defense
for bacteria, contributing to antibiotic resistance. Bacteriophage are
able to penetrate biofilms and replicate locally to high levels, to
produce strong local therapeutic effects without destroying bacteria
important to normal human health.
Forward Looking Statements
Statements in this press release
that are not statements of historical fact are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements include, without
limitation, statements about AmpliPhi’s expectations regarding the
completion, timing and size of the public offering and the anticipated
use of net proceeds therefrom. Words such as “believe,” “anticipate,”
“plan,” “expect,” “intend,” “will,” “may,” “goal,” “potential” and
similar expressions are intended to identify forward-looking statements,
though not all forward-looking statements necessarily contain these
identifying words. Among the factors that could cause actual results to
differ materially from those indicated in the forward-looking statements
are risks and uncertainties associated with market conditions and the
satisfaction of customary closing conditions related to the offering, as
well as risks and uncertainties associated with AmpliPhi’s business and
financial condition in general, including the risks and uncertainties
described in AmpliPhi’s Quarterly Report on Form 10-Q for the quarter
ended September 30, 2016, as filed with the SEC, and other filings with
the SEC. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. All forward-looking statements are qualified in their
entirety by this cautionary statement, and AmpliPhi undertakes no
obligation to revise or update any forward-looking statements to reflect
events or circumstances after the date of this press release.