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PDS Announces Closing of c. $52m Public Offering
PDS Announces Closing of c. $52m Public Offering.
About this update from Emv Capital Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 6127C\n NetScientific PLC\n 22 June 2021\n \n \n \n \n NetScientific plc\n \n \n (\"NetScientific\", the \"Group\" or the \"Company\")\n \n \n \n \n \n PDS Biotech Announces Closing of Approximately $52 Million Public Offering and Full Exercise of Underwriter's Option to Purchase Additional Shares\n \n \n \n \n London, UK - 22 June 2021\n \n - NetScientific plc (AIM: NSCI), the international life sciences and sustainability technology investment and commercialisation Group, announces that its portfolio company, PDS Biotechnology Corporation (Nasdaq: PDSB), announced the closing of its previously announced underwritten public offering of 6,088,235 shares of common stock (inclusive of the 794,117 shares that were sold pursuant to the underwriter's full exercise of its option to purchase additional shares of common stock) at a public offering price of $8.50 per share. Certain insiders, including certain members of the Company's board of directors and executive officers, purchased shares of PDS Biotech common stock in the offering.\n \n \n The gross proceeds to PDS Biotech from this offering, before deducting underwriting discounts, commissions and other offering expenses were approximately $51.7 million.\n \n \n \n \n \n 1. The funding from this offering will support the continued development of PDS' lead HPV oncology candidate (PDS0101) in the three Phase II trials currently underway. In addition, depending on the outcome of future discussions with the FDA, this funding may also support a potential registration trial based on PDS0101 in a triple combination therapy detailed at ASCO earlier this month. \n \n \n \n \n \n 2. The funding from this offering will also be used to support the clinical development of PDS' pipeline into other non-HPV related cancers as detailed during the presentation at Oncology R&D Day on June 16, 2021. In 2022 PDS plans to advance two additional pipeline products into human clinical testing. Specifically: \n \n \n · \n PDS0102 combines the utility of the Versamune® platform with the proprietary T-cell receptor gamma alternate reading frame protein (TARP), a tumor antigen identified by the National Cancer Institute (NCI) which is strongly associated with breast and prostate cancers. \n \n \n · \n P...