This article is more than 5 years old. Information may no longer be current.

Ohr Pharmaceutical announces pricing of public offering

Add topic to email alerts

Receive an email when new articles are posted on

Please provide your email address to receive an email when new articles are posted on .

Subscribe

Added to email alerts

You've successfully added to your alerts. You will receive an email when new content is published.

Click Here to Manage Email Alerts

You've successfully added to your alerts. You will receive an email when new content is published.

Click Here to Manage Email Alerts

Back to Healio

We were unable to process your request. Please try again later. If you continue to have this issue please contact customerservice@slackinc.com.

Back to Healio

Ohr Pharmaceutical announced a public offering of 3.875 million shares of common stock. The pricing has been set at $2 per share, according to a company press release.

In addition, “Investors will also receive series A warrants to purchase up to an aggregate of 1,937,500 shares of common stock with an exercise price of $2.75 per share and series B warrants to purchase up to an aggregate of 3,875,000 shares of common stock with an exercise price of $3 per share,” the release said.

Estimated gross proceeds are expected to be about $7.75 million. The offering is to close on or about Dec. 13.

Proceeds from the offering will go toward working capital and general corporate purposes, including phase 3 clinical trials of squalamine, which is being tested in combination with anti-VEGF injections for the treatment of wet age-related macular degeneration.