ROCKVILLE, Md., Dec. 11, 2013 /PRNewswire/ -- Synthetic
Biologics, Inc. (NYSE MKT: SYN), a developer of product candidates
focused on the prevention and treatment of serious infectious and
other diseases, announced today that it intends to offer for sale
shares of its common stock in an underwritten public offering. The
Company intends to use the net proceeds from this offering for,
among other things, increasing working capital, funding research
and development, and capital expenditures. In addition, the Company
may use a portion of the net proceeds for licensing or acquiring
intellectual property to incorporate into its products and product
candidates or its research and development programs. The Company
may also use a portion of the net proceeds to in-license, acquire
or invest in complementary businesses or products; however, it has
no current commitments or obligations to do so. 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.
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Aegis Capital Corp. is acting as sole book-running manager for
the offering.
The offering is being made pursuant to a shelf registration
statement that the Company previously filed with the Securities and
Exchange Commission (SEC) and which became effective on
July 16, 2013. A preliminary
prospectus supplement and accompanying prospectus relating to the
offering will be filed with the SEC and will be available on the
SEC's website located at www.sec.gov. Copies of the preliminary
prospectus supplement and the accompanying prospectus relating to
this offering may be obtained, when available, from Aegis Capital
Corp., 810 7th Avenue, 18th Floor,
New York, NY 10019 or via
telephone at 212-813-1010 or email: prospectus@aegiscap.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 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 Synthetic Biologics, Inc.
Synthetic Biologics, Inc. (NYSE MKT: SYN) is a biotechnology
company focused on the development of product candidates for
serious infectious diseases and other diseases. Synthetic Biologics
is developing oral treatments targeting archaea, a non-bacterial
intestinal form of life increasingly associated with chronic
diseases such as irritable bowel syndrome (IBS), obesity and type 2
diabetes, an oral biologic to protect the gastrointestinal
microflora from the effects of IV antibiotics for the prevention of
C. diff infection, a series of monoclonal antibodies (mAbs)
for the treatment of Pertussis and Acinetobacter infections,
and a biologic targeted at the prevention and treatment of IBS. In
addition, the Company is developing an oral estriol drug candidate
for the treatment of relapsing-remitting multiple sclerosis (MS)
and cognitive dysfunction in MS (with results of an ongoing 164
subject, 15 center, two-year, double blind, placebo controlled,
Phase II relapsing-remitting MS clinical trial expected to be
announced during the first half of 2014). For more information,
please visit Synthetic Biologics' website at
www.syntheticbiologics.com.
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements reflect management's current
expectations, as of the date of this press release, and involve
certain risks and uncertainties. Forward-looking statements include
statements herein with respect to this offering and the successful
execution of the Company's business strategy, including its
intended use of proceeds. The Company's actual results could differ
materially from those anticipated in these forward-looking
statements as a result of various factors. Factors that could cause
future results to materially differ from the recent results or
those projected in forward-looking statements include the "Risk
Factors" described in the Company's Annual Report on Form 10-K
filed with the Securities and Exchange Commission on April 16, 2013 and in the Company's periodic
filings with the SEC. The Company's further development is highly
dependent on future medical and research developments and market
acceptance, which is outside its control.
SOURCE Synthetic Biologics, Inc.