Can-Fite BioPharma Announces Pricing of $5 Million Public Offering
10 Febrero 2020 - 1:48PM
Can-Fite BioPharma Ltd. (NYSE American: CANF)
(TASE:CFBI)
, a biotechnology company advancing a pipeline of
proprietary small molecule drugs that address cancer, liver and
inflammatory diseases, today announced the pricing of a public
offering of 3,333,334 units at a price to the public of $1.50 per
unit. The Company expects to receive aggregate gross proceeds of
approximately $5.0 million from the offering, before deducting the
placement agent fees and estimated offering expenses. Each unit is
comprised of one American Depositary Share (ADS) (or ADS
equivalent) and one warrant to purchase one ADS at an exercise
price of 1.50 per ADS. The warrants are immediately exercisable
upon issuance and have a term of five years. Each ADS represents 30
ordinary shares of the Company. The ADSs (or ADS equivalents) and
the accompanying 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.
H.C. Wainwright & Co. is acting as the
exclusive placement agent for the offering.
The offering is expected to close on or about
February 12, 2020, subject to satisfaction of customary closing
conditions.
A registration statement on Form F-1 (File No.
333-236064) relating to the public offering of the securities
described above was filed with the Securities and Exchange
Commission (“SEC”) and was declared effective on February 10, 2020.
The offering is being made only by means of a prospectus forming
part of the effective registration statement. Copies of the
preliminary prospectus and, when available, copies of the final
prospectus, relating to the offering may be obtained for free by
visiting the SEC’s website at http://www.sec.gov. Electronic copies
of the final prospectus relating to the offering may be obtained,
when available, by contacting H.C. Wainwright & Co., LLC, 430
Park Avenue, 3rd Floor, New York, NY 10022, by calling (646)
975-6996 or by emailing placements@hcwco.com.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy any of the
securities described herein. There shall not be any offer,
solicitation of an offer to buy, or sale of securities in any state
or jurisdiction in which such an offering, solicitation, or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Can-Fite BioPharma Ltd.
Can-Fite BioPharma Ltd. (NYSE American: CANF)
(TASE: CFBI) is an advanced clinical stage drug development Company
with a platform technology that is designed to address
multi-billion dollar markets in the treatment of cancer,
inflammatory disease and sexual dysfunction. The Company’s lead
drug candidate, Piclidenoson, is currently in Phase III trials for
rheumatoid arthritis and psoriasis. Can-Fite’s liver cancer drug,
Namodenoson, recently completed a Phase II trial for hepatocellular
carcinoma (HCC), the most common form of liver cancer, and is in a
Phase II trial for the treatment of non-alcoholic steatohepatitis
(NASH). Namodenoson has been granted Orphan Drug Designation in the
U.S. and Europe and Fast Track Designation as a second line
treatment for HCC by the U.S. Food and Drug Administration.
Namodenoson has also shown proof of concept to potentially treat
other cancers including colon, prostate, and melanoma. CF602, the
Company’s third drug candidate, has shown efficacy in the treatment
of erectile dysfunction in preclinical studies and the Company is
investigating additional compounds, targeting A3AR, for the
treatment of sexual dysfunction. These drugs have an excellent
safety profile with experience in over 1,000 patients in clinical
studies to date. For more information please visit:
www.can-fite.com.
Forward-Looking Statements
This press release may contain forward-looking
statements, about Can-Fite’s expectations, beliefs or intentions
regarding, among other things, statements regarding the public
offering, the expected gross proceeds and the expected closing of
the public offering. In addition, from time to time, Can-Fite or
its representatives have made or may make forward-looking
statements, orally or in writing. Forward-looking statements can be
identified by the use of forward-looking words such as “believe,”
“expect,” “intend,” “plan,” “may,” “should” or “anticipate” or
their negatives or other variations of these words or other
comparable words or by the fact that these statements do not relate
strictly to historical or current matters. These forward-looking
statements may be included in, but are not limited to, various
filings made by Can-Fite with the U.S. Securities and Exchange
Commission, press releases or oral statements made by or with the
approval of one of Can-Fite’s authorized executive officers.
Forward-looking statements relate to anticipated or expected
events, activities, trends or results as of the date they are made.
Because forward-looking statements relate to matters that have not
yet occurred, these statements are inherently subject to risks and
uncertainties that could cause Can-Fite’s actual results to differ
materially from any future results expressed or implied by the
forward-looking statements. Many factors could cause Can-Fite’s
actual activities or results to differ materially from the
activities and results anticipated in such forward-looking
statements. Factors that could cause our actual results to differ
materially from those expressed or implied in such forward-looking
statements include, but are not limited to: market and other
conditions, our history of losses and needs for additional capital
to fund our operations and our inability to obtain additional
capital on acceptable terms, or at all; uncertainties of cash flows
and inability to meet working capital needs; the initiation,
timing, progress and results of our preclinical studies, clinical
trials and other product candidate development efforts; our ability
to advance our product candidates into clinical trials or to
successfully complete our preclinical studies or clinical trials;
our receipt of regulatory approvals for our product candidates, and
the timing of other regulatory filings and approvals; the clinical
development, commercialization and market acceptance of our product
candidates; our ability to establish and maintain strategic
partnerships and other corporate collaborations; the implementation
of our business model and strategic plans for our business and
product candidates; the scope of protection we are able to
establish and maintain for intellectual property rights covering
our product candidates and our ability to operate our business
without infringing the intellectual property rights of others;
competitive companies, technologies and our industry; statements as
to the impact of the political and security situation in Israel on
our business; and risks and other risk factors detailed in
Can-Fite’s filings with the SEC and in its periodic filings with
the TASE. In addition, Can-Fite operates in an industry sector
where securities values are highly volatile and may be influenced
by economic and other factors beyond its control. Can-Fite does not
undertake any obligation to publicly update these forward-looking
statements, whether as a result of new information, future events
or otherwise, except is required by law.
ContactCan-Fite BioPharmaMotti
Farbsteininfo@canfite.com+972-3-9241114
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