Hillstream BioPharma Announces Closing of Public Offering of Common Stock
03 5월 2023 - 5:05AM
Hillstream BioPharma, Inc. (Nasdaq: HILS) ("Hillstream" or
the "Company"), a biotechnology company developing therapeutic
candidates targeting drug resistant and devastating cancers using
ferroptosis, an emerging new anti-cancer mechanism resulting in
iron-mediated cell death, and immuno-oncology targeted novel
biologics, today announced the closing of its previously announced
public offering of common stock. Hillstream sold 5,300,000 shares
of its common stock at a public offering price of $0.50 per share
for gross proceeds of $2,650,000 before deducting underwriting
discounts and offering expenses. In addition, the Company has
granted the underwriters a 45-day option to purchase up to an
additional 795,000 shares of common stock to cover over-allotments,
if any, at the public offering price, less the underwriting
discount.
The Company intends to use the net proceeds from
the offering for the advancement of its lead drug candidate
HSB-1216, the development of other product candidates in the
Company’s pipeline and general corporate purposes and working
capital.
ThinkEquity acted as sole book-running manager
for the offering.
The offering was made pursuant to an effective
shelf registration statement that has been filed with the U.S.
Securities and Exchange Commission (the “SEC”). The final
prospectus supplement relating to the offering was filed with the
SEC and is available on the SEC's website at http://www.sec.gov.
Copies of the final prospectus supplement and the accompanying
prospectus relating to the offering may be obtained from
ThinkEquity, 17 State Street, 41st Floor, New York, NY 10004.
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 registration or qualification under the
securities laws of any such state or other jurisdiction.
About HillstreamHillstream
BioPharma, Inc. is a biotechnology company developing a focused
portfolio of therapeutic candidates targeting drug resistant and
devastating cancers. The Company anticipates submitting an
investigational new drug application and plans to initiate a
clinical study in the second half of 2023 with HSB-1216, which
targets ferroptosis, an emerging new anti-cancer mechanism,
resulting in iron mediated cell death of drug resistant cancers.
The Company’s emerging immuno-oncology pipeline is led by HSB-3215,
a novel anti-HER2 monoclonal antibody targeting unique epitopes
with a novel mechanism of action. The erbB/HER family of cell
surface proteins include well-known and validated drug targets
including HER2 and HER3 found in multiple solid tumors, including
breast, lung, GYN, endocrinological and CNS. For more information,
please visit: www.hillstreambio.com.
Forward-Looking Statements
This press release contains “forward-looking
statements” as defined by the Private Securities Litigation Reform
Act of 1995 that involve risks and uncertainties. In some cases,
you can identify forward-looking statements by terms such as “may,”
“might,” “will,” “objective,” “intend,” “should,” “could,” “can,”
“would,” “expect,” “believe,” “design,” “estimate,” “predict,”
“potential,” “plan” or the negative of these terms and similar
expressions intended to identify forward-looking statements. These
statements include statements related to the intended use of
proceeds. Hillstream cautions readers that forward-looking
statements are based on management’s expectations and assumptions
as of the date of this press release and are subject to certain
risks and uncertainties that could cause actual results to differ
materially, including, but not limited to, risks related to
prevailing market conditions, the impact of general economic,
industry or political conditions in the United States, and risk
factors set forth in the Company’s Annual Report on Form 10-K for
the year ended December 31, 2022 filed with the SEC, as may be
amended or supplemented from time to time by other reports the
Company files with the SEC. Forward-looking statements reflect the
Company’s analysis only on their stated date, and Hillstream
undertakes no obligation to update or revise these statements
except as may be required by law.
Investor Relations:Email:
investorrelations@hillstreambio.comWebsite:
www.hillstreambio.com
Hillstream BioPharma (NASDAQ:HILS)
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