Business
Cocrystal Pharma Announces Closing of $11.0 Million Registered Direct Offering Priced At-the-Market
BOTHELL, WA, Feb. 28, 2020 (GLOBE NEWSWIRE) -- COCRYSTAL PHARMA, INC. (NASDAQ: COCP) (“Cocrystal” or the “Company”), a clinical stage biotechnology company
About this update from Cocrystal Pharma, Inc.
[{"type":"text","content":"BOTHELL, WA, Feb. 28, 2020 (GLOBE NEWSWIRE) -- COCRYSTAL PHARMA, INC. (NASDAQ: COCP) (“Cocrystal” or the “Company”), a clinical stage biotechnology company discovering and developing novel antiviral therapeutics, announced today the closing of its previously announced registered direct offering with several institutional investors for 8,461,540 shares of its common stock at a purchase price of $1.30 per share, priced at-the-market under Nasdaq rules. The gross proceeds to the Company from the offering totaled approximately $11.0 million, before deducting placement agent fees and offering expenses.\n H.C. Wainwright & Co. acted as the exclusive placement agent for the offering. Cocrystal intends to use the net proceeds for working capital and other general corporate purposes. The shares of common stock described above were offered by Cocrystal Pharma pursuant to a shelf registration statement on Form S-3 (No. 333-220632), which was previously declared effective by the Securities and Exchange Commission (“SEC”). A final prospectus supplement and the accompanying prospectus relating to the shares of common stock were filed by Cocrystal with the SEC and can be obtained at the SEC’s website at www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus relating to the registered direct offering may also be obtained by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, New York, NY 10022, by email at [email protected] or by phone at (646) 975-6996. This press release does not constitute an offer to buy nor will 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 Cocrystal Pharma, Inc. Cocrystal Pharma, Inc. is a clinical stage biotechnology company discovering and developing novel antiviral therapeutics that target the replication machinery of influenza viruses, hepatitis C viruses, noroviruses and coronaviruses. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to our ability to complete the offering, our intended use of proceeds and other statements that are not historical fa...