Business
COCRYSTAL PHARMA, INC. ANNOUNCES CLOSING OF $2.2 MILLION REGISTERED DIRECT OFFERING
BOTHELL, WA, Feb. 03, 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. 03, 2020 (GLOBE NEWSWIRE) -- COCRYSTAL PHARMA, INC. (NASDAQ: COCP) (“Cocrystal” or the “Company”), a clinical stage biotechnology company discovering and developing novel antiviral therapeutics, today announced the closing of its registered direct offering with two institutional investors for 3,492,063 shares of common stock. All of the common stock was sold at $0.63 per share for gross proceeds to the Company totaling approximately $2.2 million, before deducting placement agent commissions and expenses. Cocrystal intends to use the net proceeds from the offering for working capital and other general corporate purposes.\n A.G.P./Alliance Global Partners acted as sole placement agent for the offering. Aegis Capital Corp. acted as the Company’s financial advisor. “We are grateful to have the continued and growing support of institutional investors who see the increasing potential in Cocrystal. We were opportunistic with the timing of this offering as we wanted to ensure having sufficient cash to bolster our efforts to drive the preclinical and clinical development forward across our pipeline of novel antiviral therapeutics. We believe that 2020 represents a pivotal year for the Company and the successful close of this financing enables us to continue building momentum with our overall business strategy. Our team is diligently working to execute the milestones in our programs to build significant shareholder value in the near and long term,” commented Dr. Gary Wilcox, Chairman and Chief Executive Officer of Cocrystal. The securities described above were offered by Cocrystal pursuant to a shelf registration statement on Form S-3 (No. 333-220632) previously filed with and declared effective by the SEC. A prospectus supplement and accompanying prospectus relating to the offering were filed with the SEC and are available on the SEC’s website at www.sec.gov. Copies of the prospectus supplement and accompanying prospectus relating to the offering may be obtained from A.G.P./Alliance Global Partners, 590 Madison Avenue, 36th Floor, New York, NY 10022 or via telephone at 212-624-2060 or email: [email protected]. 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 jurisdiction in which such offer, solicitation...