CAMBRIDGE, Mass.--(BUSINESS WIRE)--Jun. 20, 2018--
Pharmaceuticals, Inc. (“Catabasis,” the “Company,” “we,” “our,” or
“us”) (NASDAQ:CATB), a clinical-stage biopharmaceutical company, today
announced the pricing of an underwritten offering of an aggregate of
42,000,000 units. Each unit is comprised of one share of common stock
and one common warrant to purchase one share of common stock, at a price
of $1.00 per unit.
Oppenheimer & Co. Inc. is acting as sole underwriter for the offering.
Each common warrant has an exercise price of $1.20 per share and is
exercisable immediately. The common warrants will expire five years from
the date of issuance. The shares of common stock and the accompanying
common warrants included in the units can only be purchased together in
this offering but will be issued separately and will be immediately
separable upon issuance. The offering is expected to close on or about
June 22, 2018, subject to customary closing conditions.
The gross proceeds of the offering are expected to be approximately $42
million, prior to deducting the underwriting discount and commissions
and other estimated offering expenses.
Catabasis intends to use the net proceeds from the offering for the
planned Phase 3 clinical trial of edasalonexent for the treatment of
Duchenne muscular dystrophy, as well as for working capital and general
The securities described above are being offered pursuant to a
registration statement on Form S-1 (File No. 333-225410), as amended,
which was declared effective by the Securities and Exchange Commission
on June 19, 2018 and an additional registration statement filed pursuant
to Rule 462(b) (File No. 333-225734), which became effective when filed.
The offering is being made only by means of a prospectus forming part of
the effective registration statement. A final prospectus relating to the
offering will be filed with the Securities and Exchange Commission and
will be available at www.sec.gov.
When available, copies of the final prospectus may be obtained for free
by contacting Oppenheimer & Co. Inc. Attention: Syndicate Prospectus
Department, 85 Broad St., 26th Floor, New York, NY 10004, by telephone
at (212) 667-8563 or by email at EquityProspectus@opco.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described herein,
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.
At Catabasis Pharmaceuticals, our mission is
to bring hope and life-changing therapies to patients and their
families. Our lead program is edasalonexent, an NF-kB inhibitor in
development for the treatment of Duchenne muscular dystrophy.
Edasalonexent was designed using our SMART (Safely Metabolized And
Rationally Targeted) Linker drug discovery platform that enables us to
engineer molecules that simultaneously modulate multiple targets in a
Forward Looking Statements
Certain statements in this press
release that are forward-looking and not statements of historical fact,
such as statements regarding the anticipated completion, timing, and
size of the public offering and the anticipated use of net proceeds
therefrom, are forward-looking statements within the meaning of the safe
harbor provisions of the Private Securities Litigation Reform Act of
1995. These forward-looking statements may be identified by words such
as “expect,” “intend,” “anticipate,” “believe,” or similar expressions
that are intended to identify such forward-looking statements. The
Company cautions that such statements involve risks and uncertainties
that may materially affect the Company’s results of operations. Such
forward-looking statements are based on the beliefs of management as
well as assumptions made by and information currently available to
management. Actual results could differ materially from those
contemplated by the forward-looking statements as a result of certain
factors, including but not limited to the risks and uncertainties
associated with market conditions, the satisfaction of customary closing
conditions relating to the offering and the Company’s intended use of
proceeds, as well as risks and uncertainties detailed in the Company’s
filings with the SEC, including the registration statement on Form S-1
relating to this offering and the Company’s quarterly report on Form
10-Q for the quarter ended March 31, 2018. In addition, the
forward-looking statements included in this press release represent the
Company’s views as of the date of this press release. The Company
anticipates that subsequent events and developments will cause the
Company’s views to change. However, while the Company may elect to
update these forward-looking statements at some point in the future, the
Company specifically disclaims any obligation to do so. These
forward-looking statements should not be relied upon as representing the
Company’s views as of any date subsequent to the date of this release.
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Source: Catabasis Pharmaceuticals, Inc.
Investor and Media Contact
Andrea Matthews, 617-349-1971