ROCKVILLE, Md., Dec. 17, 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, today announced the closing of a previously
announced underwritten public offering of 13,225,000 shares of its
common stock, including the fully exercised over-allotment option
by the underwriters covering 1,725,000 shares, offered at a price
to the public of $1.00 per share. The
gross proceeds to the Company were $13,225,000, before deducting underwriting
discounts, commissions and other offering expenses payable by the
Company.
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Aegis Capital Corp. acted as sole book-running manager of the
offering.
This offering was 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. Electronic copies of
the preliminary prospectus supplement and, the final prospectus
supplement and accompanying prospectus relating to this offering
may be obtained from the SEC's website at http://www.sec.gov or
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 is neither an offer to sell nor a
solicitation of an offer to buy any of the Company's securities. No
offer, solicitation or sale will be made in any jurisdiction in
which such offer, solicitation or sale is unlawful.
Further information regarding the offering is contained in the
Company's Current Report on Form 8-K filed with the SEC and which
may be accessed at www.sec.gov.
About Synthetic Biologics, Inc.
Synthetic Biologics, Inc. (NYSE MKT: SYN) is a biotechnology
company focused on the development of product candidates for
serious infectious 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 with
respect to the Company's research and development and clinical
evaluation efforts. 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.