JERUSALEM, Jan. 30, 2020 /PRNewswire/ -- Intec Pharma Ltd.
(NASDAQ: NTEC) ("Intec" or "the Company") today announced
that it intends to offer and sell a combination of ordinary
shares (or pre-funded warrants to purchase ordinary shares in lieu
thereof) and warrants to purchase ordinary shares in an
underwritten public offering. In addition, the Company expects to
grant the underwriter a 30-day option to purchase up to an
additional 15% of ordinary shares and/or warrants at the public
offering price, less underwriting discounts and commissions. All of
the ordinary shares and warrants in the offering will be sold by
the Company. The offering is subject to market conditions, and
there can be no assurance as to whether or when the offering may be
completed or as to the actual size or terms of the offering.
H.C. Wainwright & Co. is acting as sole book-running manager
for the offering.
A shelf registration statement relating to the securities being
sold in this offering was filed with the U.S. Securities and
Exchange Commission (SEC) on March 1,
2019, and was declared effective on March 28, 2019. The offering will be made only by
means of a prospectus supplement and accompanying prospectus. A
preliminary prospectus supplement and accompanying prospectus
relating to the proposed public offering will be filed with the SEC
and will be available for free on the SEC's website located at
http://www.sec.gov. When available, electronic copies of the
preliminary prospectus supplement and accompanying prospectus
relating to the proposed public offering may be obtained by
contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd
Floor, New York, NY 10022, or by
telephone at (646) 975-6996, or by email to
placements@hcwco.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Intec Pharma Ltd.
Intec Pharma is a clinical-stage biopharmaceutical company
focused on developing drugs based on its proprietary Accordion Pill
platform technology. The Company's Accordion Pill is an oral drug
delivery system that is designed to improve the efficacy and safety
of existing drugs and drugs in development by utilizing an
efficient gastric retention and specific release mechanism. The
Company's product pipeline includes two product candidates in
clinical trial stages: Accordion Pill Carbidopa/Levodopa, or
AP-CD/LD, which is in late-stage development for the treatment of
Parkinson's disease symptoms in advanced Parkinson's disease
patients, and AP-cannabinoids, an Accordion Pill to deliver either
or both of the primary cannabinoids contained in Cannabis sativa,
cannabidiol (CBD) and tetrahydrocannabinol (THC) for various pain
indications. In addition, the Company has a research collaboration
with Merck & Co.
For more information, visit www.intecpharma.com. Intec Pharma
routinely posts information that may be important to investors in
the Investor Relations section of its website.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward looking statements about our
expectations, beliefs and intentions. Forward-looking statements
can be identified by the use of forward-looking words such as
"believe", "expect", "intend", "plan", "may", "should", "could",
"might", "seek", "target", "will", "project", "forecast",
"continue" or "anticipate" or their negatives or variations of
these words or other comparable words or by the fact that these
statements do not relate strictly to historical matters. These
forward-looking statements are based on assumptions and assessments
made in light of management's experience and perception of
historical trends, current conditions, expected future developments
and other factors believed to be appropriate. Forward-looking
statements in this press release are made as of the date of this
press release, and we undertake no duty to update or revise any
such statements, whether as a result of new information, future
events or otherwise, except as required by laws. Forward-looking
statements are not guarantees of future performance and are subject
to risks and uncertainties, many of which are outside of our
control. These risks and uncertainties include, without limitation,
risks and uncertainties related to market conditions, anticipated
final terms, timing and completion of the proposed public offering,
the risk that the proposed public offering will not be consummated,
and the satisfaction of customary closing conditions related to the
proposed public offering. There can be no assurance that we will be
able to complete the proposed public offering. Many factors could
cause our actual activities or results to differ materially from
the activities and results anticipated in forward-looking
statements, including, but not limited to, the following: our
limited operating history and history of operating losses, our
ability to continue as a going concern, our ability to obtain
additional financing, our ability to successfully operate our
business or execute our business plan, the timing and cost of our
clinical trials, the completion and receiving favorable results in
our clinical trials, our ability to obtain and maintain regulatory
approval of our product candidates, our ability to protect and
maintain our intellectual property and licensing arrangements, our
ability to develop, manufacture and commercialize our product
candidates, the risk of product liability claims, the availability
of reimbursement, and the influence of extensive and costly
government regulation. More detailed information about the risks
and uncertainties affecting us is contained under the heading "Risk
Factors" included in our most recent Annual Report on Form 10-K
filed with the SEC on February 27,
2019, and in the preliminary prospectus contained in the
registration statement related to the proposed public offering to
be filed with the SEC, and in other filings that we have made and
may make with the Securities and Exchange Commission in the
future.
Intec Pharma Investor Contact:
Anne Marie
Fields
VP-Corporate Communications & Investor Relations
646-200-8808
amf@intec-us.com
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SOURCE Intec Pharma Ltd.