Raptor Pharmaceutical Corp. Announces Closing of $7.5 Million Registered Direct Offering
2009年12月24日 - 7:02AM
PRニュース・ワイアー (英語)
NOVATO, Calif., Dec. 23 /PRNewswire-FirstCall/ -- Raptor
Pharmaceutical Corp. ("Raptor" or the "Company") (NASDAQ:RPTP),
today announced that on December 22, 2009, it completed its
registered direct offering with institutional investors, raising an
aggregate amount of approximately $7.5 million of gross proceeds
(before placement agent fees and offering expenses) through the
sale of 3,747,558 units. The units consist of one share of common
stock and one warrant to purchase 0.5 of a share of common stock
with a term of five years, and one warrant to purchase 0.5 of a
share of common stock with a term of 18 months. Both warrants have
an exercise price of $2.45 per share of common stock and are not
exercisable for six months. The shares of common stock and warrants
were issued separately. Christopher M. Starr, Ph.D., CEO of Raptor,
said, "This U.S.-based financing is a major milestone for Raptor,
as the proceeds from this offering will enable us to move all of
our principal clinical programs forward, focusing on our lead
compound, DR Cysteamine, for the treatment of cystinosis. We look
forward to executing our pivotal Phase 3 clinical trial for
cystinosis. We are pleased with the participation of institutional
investors in this offering, and appreciate the continued support of
our existing long-term shareholders and welcome our new
shareholders, as we work to achieve our next clinical milestones
and move closer to potential commercialization of this eagerly
anticipated therapeutic for cystinosis patients." As previously
disclosed, Raptor intends to use the net proceeds from the offering
for general corporate purposes, including activities related to
further clinical development of DR Cysteamine and for other working
capital and operational purposes. Ladenburg Thalmann & Co.
Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc.
(NYSE Amex: LTS), acted as the exclusive placement agent for this
offering. C.K. Cooper & Company acted as a selected dealer in
this transaction. The offering was made pursuant to the Form S-3
shelf registration statement declared effective by the Securities
and Exchange Commission (the "SEC") on November 5, 2009. Copies of
the final prospectus supplement and accompanying prospectus
relating to the offering may be obtained from the SEC's website at
http://www.sec.gov/, or from Ladenburg Thalmann & Co. Inc., 520
Madison Avenue, 9th Floor, New York, New York 10022. This press
release shall not constitute an offer to sell or the solicitation
of an offer to buy, 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
jurisdiction. About Raptor Pharmaceutical Corp. Raptor
Pharmaceutical Corp. (NASDAQ:RPTP) ("Raptor") is dedicated to
speeding the delivery of new treatment options to patients by
working to improve existing therapeutics through the application of
highly specialized drug targeting platforms and formulation
expertise. Raptor focuses on underserved patient populations where
it can have the greatest potential impact. Raptor currently has
product candidates in clinical development designed to potentially
treat nephropathic cystinosis, non-alcoholic steatohepatitis
("NASH"), Huntington's Disease ("HD"), aldehyde dehydrogenase
("ALDH2") deficiency, and a non-opioid solution designed to
potentially treat chronic pain. Raptor's preclinical programs are
based upon bioengineered novel drug candidates and drug-targeting
platforms derived from the human receptor-associated protein
("RAP") and related proteins that are designed to target cancer,
neurodegenerative disorders and infectious diseases. For additional
information, please visit http://www.raptorpharma.com/. FORWARD
LOOKING STATEMENTS This document contains forward-looking
statements as that term is defined in the Private Securities
Litigation Reform Act of 1995. These statements relate to future
events or our future results of operation or future financial
performance, including, but not limited to the following
statements: that the proceeds from this offering will enable us to
move all of our principal clinical programs forward; that we will
execute our pivotal Phase 3 clinical trial for cystinosis in 2010,
if at all; that we will work to achieve our next clinical
milestones and move closer to potential commercialization; and that
any of Raptor's clinical and preclinical drug candidates will
result in approved therapeutics. These statements are only
predictions and involve known and unknown risks, uncertainties and
other factors, which may cause the Company's actual results to be
materially different from these forward-looking statements. Factors
which may significantly change or prevent the Company's forward
looking statements from fruition include: that Raptor may be
unsuccessful at raising funds to continue its development programs;
Raptor may be unsuccessful in developing any products or acquiring
products; that Raptor's technology may not be validated as it
progresses further and its methods may not be accepted by the
scientific community; that Raptor is unable to retain or attract
key employees whose knowledge is essential to the development of
its products; that unforeseen scientific difficulties develop with
the Company's process; that Raptor's patents are not sufficient to
protect essential aspects of its technology; that competitors may
invent better technology; and that Raptor's products may not work
as well as hoped or worse, that the Company's products may harm
recipients. As well, Raptor's products may never develop into
useful products and even if they do, they may not be approved for
sale to the public. Raptor cautions readers not to place undue
reliance on any such forward-looking statements, which speak only
as of the date they were made. Certain of these risks,
uncertainties, and other factors are described in greater detail in
the Company's filings from time to time with the Securities and
Exchange Commission (the "SEC"), which Raptor strongly urges you to
read and consider, including Raptor's current report on Form 8-K as
filed with the SEC on November 17, 2009; the joint proxy
statement/prospectus on Form S-4 filed with the SEC on August 19,
2009; Raptor's annual report on Form 10-K filed with the SEC on
March 27, 2009; and Raptor's quarterly report on Form 10-Q filed
with the SEC on August 11, 2009, all of which are available free of
charge on the SEC's web site at http://www.sec.gov/. Subsequent
written and oral forward-looking statements attributable to Raptor
or to persons acting on its behalf are expressly qualified in their
entirety by the cautionary statements set forth in Raptor's reports
filed with the SEC. Raptor expressly disclaims any intent or
obligation to update any forward-looking statements. For more
information, please contact: Kim R. Tsuchimoto, CFO (415) 382-1390
The Ruth Group Sara Ephraim Pellegrino (investors) (646) 536-7002
Janine McCargo (media) (646) 536-7033 DATASOURCE: Raptor
Pharmaceutical Corp. CONTACT: Kim R. Tsuchimoto, CFO,
+1-415-382-1390, , or for the Ruth Group: Sara Ephraim Pellegrino
(investors), +1-646-536-7002, , or Janine McCargo (media),
+1-646-536-7033, Web Site: http://www.raptorpharma.com/
Copyright