Landos Biopharma Announces $16.7 Million Private Placement Financing
05 Enero 2023 - 6:00AM
Landos Biopharma, Inc. (NASDAQ: LABP) (“Landos” or the “Company”),
a clinical-stage biopharmaceutical company developing novel, oral
medicines for patients with autoimmune diseases, today announced a
$16.7 million private placement financing from the sale of
pre-funded warrants to purchase an aggregate of 30,909,090 shares
of its common stock at a price per pre-funded warrant of $0.54 to
entities associated with Perceptive Advisors LLC, Landos’ largest
stockholder. The price per pre-funded warrant was based on the
closing price per share of the Company’s common stock on January 4,
2023. Gross proceeds from the financing total approximately $16.7
million, before deducting offering expenses. The closing of the
financing is subject to customary closing conditions and is
expected to close on or before January 10, 2023.
The Company anticipates using the net proceeds from the
investment to advance the development of NX-13 and for other
general corporate purposes. The Company estimates that the net
proceeds from the financing, in addition to its existing cash, cash
equivalents and marketable securities, will be sufficient to fund
its planned operations into the first half of 2025.
Neither the pre-funded warrants nor the shares of common stock
underlying the pre-funded warrants have been registered
under the Securities Act of 1933, as amended, and these securities
may not be offered or sold in the United States except pursuant to
an effective registration statement or an applicable exemption from
the registration requirements.
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 Landos Biopharma
Landos Biopharma is a clinical stage biopharmaceutical company
focused on the development of first-in-class therapeutics for
patients with autoimmune disease. The Company’s mission is to
create safer and more effective treatments that address the
therapeutic gap in the current treatment paradigm.
Landos has a portfolio of three novel targets anchoring
libraries of immunometabolic modulation pathways, including seven
potentially first-in-class, once-daily therapies targeting 14
indications in the immunology space. This includes our three
clinical stage programs: NX-13 for Ulcerative Colitis and Crohn’s
Disease; Omilancor for Ulcerative Colitis, Crohn’s Disease and
Eosinophilic Esophagitis; and LABP-104 for Systemic Lupus
Erythematosus and Rheumatoid Arthritis
The Company is currently focused on advancing the clinical
development of NX-13 in Ulcerative Colitis.
Cautionary Note on Forward-Looking
Statements
Statements in this press release about future expectations,
plans and prospects for Landos Biopharma, Inc. (the “Company”),
including statements about the Company’s strategy, clinical
development and regulatory plans for its product candidates,
including NX-13, omilancor and LABP-104, the anticipated proceeds
to be received in the proposed financing, expected timing of
closing of the proposed financing and the size and completion of
the proposed financing, the Company’s anticipated cash runway and
other statements containing the words “anticipate”, “plan”,
“expect”, “may”, “will”, “could”, “believe”, “look forward”,
“potential”, the negatives thereof, variations thereon and similar
expressions, or any discussions of strategy constitute
forward-looking statements. Actual results may differ materially
from those indicated by such forward-looking statements as a result
of various important factors, including: the uncertainties inherent
in the initiation and enrollment of future clinical trials,
expectations of expanding ongoing clinical trials, availability and
timing of data from ongoing clinical trials, expectations for
regulatory approvals, other matters that could affect the
availability or commercial potential of the Company’s product
candidates and other similar risks. Risks regarding the Company’s
business are described in detail in its Securities and Exchange
Commission (“SEC”) filings, including in its Annual Reports on Form
10-K and Quarterly Reports on Form 10-Q, which are available on the
SEC’s website at www.sec.gov. Additional information will be made
available in other filings that the Company makes from time to time
with the SEC. Such risks may be amplified by the impacts of the
COVID-19 pandemic. In addition, the forward-looking statements
included in this press release represent the Company’s views only
as of the date hereof. 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, except as may be
required by law. These forward-looking statements should not be
relied upon as representing the Company’s views as of any date
subsequent to the date hereof.
Investor ContactPatrick Truesdell, Principal
Accounting OfficerLandos Biopharmair@landosbiopharma.com
Media ContactTanner Kaufman / Kara SperryJoele
Frank, Wilkinson Brimmer Katcher212-355-4449
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