IMMUNOTHERAPY COMPANY ENLIVEX THERAPEUTICS COMPLETES PREVIOUSLY ANNOUNCED FINANCING PRICED AT $12.25 PER SHARE, RAISING A TOT...
April 08 2019 - 7:30AM
Enlivex Therapeutics Ltd. (Nasdaq: ENLV), a clinical-stage
immunotherapy company, today announced the final closing of a
private placement financing of ordinary shares priced at $12.25 per
share, raising a total of approximately $8.4 million.
The final closing of $3.0 million on April 4, 2019 follows the
initial closing of approximately $5.4 million previously announced
by Enlivex on March 26, 2019. Pursuant to the financing, Enlivex
expects its cash balance to allow initiation of several late-stage
immunotherapy clinical trials, and potentially reach multiple
clinical milestones through (i) a Phase II/III trial studying
prevention of complications post bone-marrow transplantations; (ii)
a Phase II trial studying prevention of cytokine storms associated
with sepsis, and (iii) a unique program surrounding a proprietary
“immune checkpoint” discovered by Enlivex for treatment of solid
cancers.
Enlivex is developing a novel immunotherapy candidate with a
unique mode of action that targets clinical indications defined as
“life-threatening, unmet medical need,” such as preventing or
treating complications associated with bone-marrow
transplantations, sepsis – which is the third-leading cause of
mortality in the United States after cardiovascular and cancer
diseases, as well as treatment of solid tumors via immune
checkpoint reprogramming, potentially increasing the efficacy of
CAR-T, TCR and other anti-cancer therapies.
Pursuant to the private placement, Enlivex issued an aggregate
of 682,631 ordinary shares, following which Enlivex had 10,113,707
ordinary shares outstanding.
The ordinary shares issued by Enlivex in the private placement
have not been registered under the Securities Act of 1933, as
amended (the “Securities Act”), or any state securities laws and
may not be offered or sold in the United States absent registration
under the Securities Act or an applicable exemption from
registration requirements. This press release does not constitute
an offer to sell, or the solicitation of an offer to buy, any
securities and shall not constitute an offer, solicitation or sale
in any jurisdiction in which such offer, solicitation or sale would
be unlawful.
ABOUT ENLIVEX Enlivex is a clinical stage
immunotherapy company, developing an allogeneic drug pipeline for
immune system rebalancing. Immune system rebalancing is critical
for the treatment of life-threatening immune and inflammatory
conditions which involve hyper-expression of cytokines (Cytokine
Release Syndrome) and for which there are no approved treatments
(unmet medical needs), as well as solid tumors immune-checkpoint
rebalancing. For more information,
visit http://www.enlivex.com.
Safe Harbor Statement: This press release contains
forward-looking statements, which may be identified by words such
as “expects,” “plans,” “projects,” “will,” “may,” “anticipates,”
“believes,” “should,” “would”, “intends,” “estimates,” “suggests,”
“has the potential to” and other words of similar meaning,
including statements regarding expected cash balances, market
opportunities for the results of current clinical studies and
preclinical experiments, the effectiveness of, and market
opportunities for, ALLOCETRATM programs, and potential future
payments to holders of CVRs which are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. Investors are cautioned that forward-looking
statements involve risks and uncertainties that may affect
Enlivex’s business and prospects, including the risks that Enlivex
may not succeed in generating any revenues or developing any
commercial products; that the products in development may fail, may
not achieve the expected results or effectiveness and/or may not
generate data that would support the approval or marketing of these
products for the indications being studied or for other
indications; that ongoing studies may not continue to show
substantial or any activity; that the Trehalose program may not
generate any revenues, and other risks and uncertainties that may
cause results to differ materially from those set forth in the
forward-looking statements. The results of clinical trials in
humans may produce results that differ significantly from the
results of clinical and other trials in animals. The results of
early-stage trials may differ significantly from the results of
more developed, later-stage trials. The development of any products
using the ALLOCETRATM product line or the Trehalose program
could also be affected by a number of other factors, including
unexpected safety, efficacy or manufacturing issues, additional
time requirements for data analyses and decision making, the impact
of pharmaceutical industry regulation, the impact of competitive
products and pricing and the impact of patents and other
proprietary rights held by competitors and other third
parties. In addition to the risk factors described above,
investors should consider the economic, competitive, governmental,
technological and other factors discussed in Enlivex’s filings with
the Securities and Exchange Commission. The forward-looking
statements contained in this press release speak only as of the
date the statements were made, and we do not undertake any
obligation to update forward-looking statements, except as required
under applicable law.
ENLIVEX CONTACT:
Shachar Shlosberger, CFO
Enlivex Therapeutics, Ltd.
shachar@enlivexpharm.com
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