SAN DIEGO, June 13, 2012 /PRNewswire/ -- Trovagene,
Inc. (Nasdaq: TROV), (Nasdaq: TROVU),a developer of trans-renal
molecular diagnostics, announced the full exercise of the
over-allotment option granted to the underwriters to purchase
172,500 additional units, at a public offering price of
$8.00 per unit, in connection with
its previously announced underwritten public offering of 1,150,000
units, bringing total gross proceeds from the offering to
$10,580,000.
On June 14, 2012, the holders of
the Company's units may elect to separately trade the common stock
and warrants underlying the units on The NASDAQ Capital Market
under the symbols "TROV" and "TROVW", respectively. The warrants
will be exercisable at an exercise price of $5.32 per share upon separation of the units and
will expire on June 4, 2017. Those
units not separated will continue to trade on The NASDAQ Capital
Market under the symbol "TROVU".
Aegis Capital Corp. acted as the sole book-running manager for
the offering.
Summer Street Research Partners and Brean Murray, Carret & Co. acted as
co-managers for the offering.
A registration statement on Form S-1 relating to the shares was
filed with the Securities and Exchange Commission and is
effective. Copies of the final prospectus relating to the
offering may be obtained from the offices of Aegis Capital Corp.,
Prospectus Department, 810 Seventh Avenue, 18th Floor, New York, NY, 10019, telephone: 212-813-1010
or email: prospectus@aegiscap.com, or from the above-mentioned SEC
website.
This press release does not constitute an offer to sell, or the
solicitation of an offer to buy, these securities, nor will there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale is not permitted.
About Trovagene, Inc.
Headquartered in San Diego,
California, Trovagene is developing its patented technology
for the detection of transrenal DNA and RNA, short nucleic acid
fragments, originating from normal and diseased cell death that
cross the kidney barrier and can be detected in urine.
Trovagene has a dominant patent position as it relates to
transrenal molecular testing. It has U.S. and European patent
applications and issued patents that cover testing for HPV and
other infectious diseases, cancer, transplantation, prenatal and
genetic testing. In addition, it owns worldwide rights to
nucleophosmin-1 (NPM1), an informative biomarker for acute myeloid
leukemia (AML) and mutations in the SF3B1 gene, which have been
shown to be associated with chemotherapy response in CLL (chronic
lymphocytic leukemia) patients.
Certain statements in this press release are forward-looking
within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements may be identified by the use of
forward-looking words such as "anticipate," "believe," "forecast,"
"estimated" and "intend," among others. These forward-looking
statements are based on Trovagene's current expectations and actual
results could differ materially. There are a number of factors that
could cause actual events to differ materially from those indicated
by such forward-looking statements. These factors include, but are
not limited to, substantial competition; our ability to continue as
a going concern; our need for additional financing; uncertainties
of patent protection and litigation; uncertainties of government or
third party payer reimbursement; limited sales and marketing
efforts and dependence upon third parties; and risks related to
failure to obtain FDA clearances or approvals and noncompliance
with FDA regulations. As with any medical diagnostic tests under
development, there are significant risks in the development,
regulatory approval and commercialization of new products. There
are no guarantees that future clinical trials discussed in this
press release will be completed or successful or that any product
will receive regulatory approval for any indication or prove to be
commercially successful. Trovagene does not undertake an obligation
to update or revise any forward-looking statement. Investors should
read the risk factors set forth in Trovagene's Form 10-K for the
year ended December 31, 2011 and
other periodic reports filed with the Securities and Exchange
Commission.
Contact:
Company:
Trovagene, Inc.
Stephen Zaniboni
Chief Financial Officer
+1 (858) 496-7466
szaniboni@trovagene.com
http://www.trovagene.com
SOURCE Trovagene, Inc.