Enlivex Therapeutics Announces $8.0 Million Registered Direct Offering
February 24 2020 - 1:54PM
Enlivex Therapeutics Ltd. (Nasdaq: ENLV), a clinical-stage
immunotherapy company, today announced that it has entered
into definitive agreements with certain institutional investors for
the purchase in a registered direct offering of an aggregate of
1,000,000 ordinary shares of the Company at a purchase price of
$8.00 per share.
H.C. Wainwright & Co. is acting as the
exclusive placement agent for the offering.
The gross proceeds to the Company from the
offering, before deducting the placement agent's fees and other
estimated offering expenses payable by the Company, are expected to
be $8.0 million. The Company intends to use the net proceeds for
clinical, regulatory, manufacturing and research and development
activities, potential acquisitions and in-licensing, as well as for
working capital and other general corporate purposes.
The offering is expected to close on or about
February 26, 2020, subject to the satisfaction of customary closing
conditions.
A shelf registration statement on Form F-3 (File
No. 333-232009) relating to the ordinary shares offered in the
registered direct offering described above was filed with the
Securities and Exchange Commission (the “SEC”) on June 7, 2019 and
declared effective by the SEC on June 21, 2019. The offering is
being made only by means of the written prospectus and prospectus
supplement that form a part of the registration statement. A final
prospectus supplement and the accompanying prospectus related to
the offering will be filed with the SEC and may be obtained, when
available, for free by visiting EDGAR on the SEC website at
www.sec.gov. Electronic copies of the final prospectus supplement
and the accompanying prospectus relating to the offering may also
be obtained, when available, by contacting H.C. Wainwright &
Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, or 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 the securities
described herein or any other securities, nor shall there be any
sale of the securities described herein or any other 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 ENLIVEXEnlivex is a clinical stage
immunotherapy company, developing an allogeneic drug pipeline for
immune system rebalancing. Immune system rebalancing is critical
for the treatment of life-threatening immune and inflammatory
conditions which involve an out of control immune system (e.g.
Cytokine Release Syndrome) and for which there are no approved
treatments (unmet medical needs), as well as solid tumors
immune-checkpoint rebalancing. For more information, visit
http://www.enlivex.com.
Safe Harbor Statement: This press release
contains forward-looking statements, which may be identified by
words such as “expects,” “plans,” “projects,” “will,” “may,”
“anticipates,” “believes,” “should,” “would”, “intends,”
“estimates,” “suggests,” “has the potential to” and other words of
similar meaning, including statements regarding the anticipated use
of the proceeds of the registered direct offering, Enlivex’s
ability to satisfy customary closing conditions related to the
registered direct offering and to consummate the registered direct
offering, expected cash balances, market opportunities for the
results of current clinical studies and preclinical experiments,
the effectiveness of, and market opportunities for,
ALLOCETRATM programs, which are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. Investors are cautioned that forward-looking
statements involve risks and uncertainties that may affect
Enlivex’s business and prospects, including the risks that Enlivex
may not succeed in generating any revenues or developing any
commercial products; that the products in development may fail, may
not achieve the expected results or effectiveness and/or may not
generate data that would support the approval or marketing of these
products for the indications being studied or for other
indications; that ongoing studies may not continue to show
substantial or any activity; market and other conditions; and other
risks and uncertainties that may cause results to differ materially
from those set forth in the forward-looking statements. The results
of clinical trials in humans may produce results that differ
significantly from the results of clinical and other trials in
animals. The results of early-stage trials may differ significantly
from the results of more developed, later-stage trials. The
development of any products using the ALLOCETRATM product line
could also be affected by a number of other factors, including
unexpected safety, efficacy or manufacturing issues, additional
time requirements for data analyses and decision making, the impact
of pharmaceutical industry regulation, the impact of competitive
products and pricing and the impact of patents and other
proprietary rights held by competitors and other third
parties. In addition to the risk factors described above,
investors should consider the economic, competitive, governmental,
technological and other factors discussed in Enlivex’s filings with
the Securities and Exchange Commission, including under the heading
“Risk Factors” contained in Enlivex’s most recently filed Annual
Report on Form 20-F, as amended. The forward-looking
statements contained in this press release speak only as of the
date the statements were made, and we do not undertake any
obligation to update forward-looking statements, except as required
under applicable law.
ENLIVEX CONTACT:Shachar Shlosberger, CFOEnlivex Therapeutics,
Ltd.shachar@enlivex-pharm.com
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