HOUSTON–(BUSINESS WIRE)– Bio-Path Holdings, Inc. (Nasdaq: BPTH) (Bio-Path), a biotechnology
company leveraging its proprietary DNAbilize® antisense RNAi
nanoparticle technology to develop a portfolio of targeted nucleic acid
cancer drugs, today announced the closing of its previously announced
offering. In a registered direct offering, Bio-Path issued and sold
712,910 shares of its common stock for a price of $25.95 per share, for
aggregate gross proceeds of approximately $18.5 million.
H.C. Wainwright & Co. acted as the exclusive placement agent for the
Bio-Path currently intends to use the net proceeds from the offering for
working capital and general corporate purposes.
The shares of common stock described above were offered and sold by
Bio-Path pursuant to a “shelf” registration statement on Form S-3
(Registration No. 333-215205), including a base prospectus, previously
filed with and declared effective by the Securities and Exchange
Commission (SEC) on January 9, 2017. The offering of the shares of
common stock was made only by means of a prospectus supplement that
forms a part of the registration statement. A final prospectus
supplement and an accompanying base prospectus relating to the
registered direct offering were filed with the SEC and are available on
the SEC’s website located at http://www.sec.gov.
Electronic copies of the prospectus supplement and accompanying base
prospectus may also be obtained from H.C. Wainwright & Co., LLC at 430
Park Avenue, 3rd Floor, New York, NY 10022, by phone at 646-975-6996 or
e-mail at firstname.lastname@example.org.
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 jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such jurisdiction.
About Bio-Path Holdings, Inc.
Bio-Path is a biotechnology company developing DNAbilize®, a novel
technology that has yielded a pipeline of RNAi nanoparticle drugs that
can be administered with a simple intravenous transfusion. Bio-Path’s
lead product candidate, prexigebersen (BP1001, targeting the Grb2
protein), is in a Phase 2 study for blood cancers and in preclinical
studies for solid tumors. This is followed by BP1002, targeting the
Bcl-2 protein, which the company anticipates entering into clinical
studies where it will be evaluated in lymphoma and solid tumors.
For more information, please visit the Company’s website at http://www.biopathholdings.com
This press release contains forward-looking statements that are made
pursuant to the safe harbor provisions of the federal securities laws.
These statements are based on management’s current expectations and
accordingly are subject to uncertainty and changes in circumstances. Any
express or implied statements contained in this press release that are
not statements of historical fact may be deemed to be forward-looking
statements. Any statements that are not historical facts contained in
this release are forward-looking statements that involve risks and
uncertainties, including statements regarding the intended use of
proceeds, Bio-Path’s ability to raise needed additional capital on a
timely basis in order for it to continue its operations, Bio-Path’s
ability to have success in the clinical development of its technologies,
the timing of enrollment and release of data in such clinical studies
and the accuracy of such data, limited patient populations of early
stage clinical studies and the possibility that results from later stage
clinical trials with much larger patient populations may not be
consistent with earlier stage clinical trials, the maintenance of
intellectual property rights, risks relating to maintaining Bio-Path’s
listing on the Nasdaq Capital Market and such other risks which are
identified in Bio-Path’s most recent Annual Report on Form 10-K, in any
subsequent quarterly reports on Form 10-Q and in other reports that
Bio-Path files with the Securities and Exchange Commission from time to
time. These documents are available on request from Bio-Path Holdings or
Bio-Path disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
Stern Investor Relations,
Bio-Path Holdings, Inc.
Source: Bio-Path Holdings, Inc.