DGAP-News: Raptor Pharmaceutical Corp. Announces Closing of Public Offering of Common Stock
(businesspress24) - Raptor Pharmaceutical Corp.
13.09.2011 19:05
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NOVATO, Calif., 2011-09-13 19:05 CEST (GLOBE NEWSWIRE) --
Raptor Pharmaceutical Corp. ('Raptor' or the 'Company') (Nasdaq:RPTP), today
announced the closing of its previously announced underwritten public offering
of shares of its common stock at a price to the public of $4.00 per share. The
shares sold in the offering included 10,000,000 shares of common stock plus an
additional 1,500,000 shares of common stock pursuant to the exercise by the
underwriters of the over-allotment option granted to them by the Company. Total
gross proceeds to the Company in the offering (including in connection with the
sale of the shares of common stock pursuant to the exercise of the
over-allotment option) totaled $46 million, before underwriting discounts and
commissions. The offering resulted in net proceeds to the Company of
approximately $42.89 million after deduction of underwriting discounts and
other offering expenses payable by the Company.
'We started Raptor five years ago with the goal of building a strong,
efficient, progressive company with a near-term revenue based business model
while remaining passionate about developing critical life-changing therapies to
treat underserved patient populations' said Christopher M. Starr, Co-founder
and CEO. 'We are very pleased with the recent results of our Phase 3 cystinosis
clinical trial. Combined with the proceeds from this financing and the
continued support from our established and new investors, I feel confident of
our ability to meet these goals.'
The Company expects to use the net proceeds from the offering to fund the
Company's commercial and pre-commercial efforts, clinical and preclinical
development programs and other general corporate activities.
JMP Securities LLC acted as the sole book-running manager for the offering, and
Canaccord Genuity Inc. and Cowen and Company, LLC acted as co-lead managers for
the offering.
About Raptor Pharmaceutical Corp.
Raptor Pharmaceutical Corp. (Nasdaq:RPTP) ('Raptor') seeks to research,
produce, and deliver medicines that improve life for patients with severe, rare
disorders. Raptor currently has product candidates in clinical development
designed to potentially treat nephropathic cystinosis, Non-alcoholic
Steatohepatitis ('NASH'), Huntington's Disease ('HD'), aldehyde dehydrogenase
deficiency ('ALDH2'), and thrombotic disorder.
Raptor's preclinical programs are based upon bioengineered novel drug
candidates and drug-targeting platforms derived from the human
receptor-associated protein and related proteins that are designed to target
cancer, neurodegenerative disorders and infectious diseases.
For additional information, please visit www.raptorpharma.com.
The Raptor Pharmaceutical Corp. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7180
Forward Looking Statements
This document contains forward-looking statements as that term is defined in
the Private Securities Litigation Reform Act of 1995. These statements relate
to future events or our future results of operation or future financial
performance, including, but not limited to the following statement: that Raptor
will be able to successfully develop any of its product candidates, build a
strong, efficient, progressive company with a near-term revenue based business
model or achieve any other goals discussed in this document. These statements
are only predictions and involve known and unknown risks, uncertainties and
other factors, which may cause the Company's actual results to be materially
different from these forward-looking statements. Raptor cautions readers not to
place undue reliance on any such forward-looking statements, which speak only
as of the date they were made. Certain of these risks, uncertainties, and other
factors are described in greater detail in the Company's filings from time to
time with the Securities and Exchange Commission (the 'SEC'), which Raptor
strongly urges you to read and consider, including: Raptor's annual report on
Form 10-K filed with the SEC on November 22, 2010; and Raptor's quarterly
report on Form 10-Q filed with the SEC on July 12, 2011; all of which are
available free of charge on the SEC's website at http://www.sec.gov. Subsequent
written and oral forward-looking statements attributable to Raptor or to
persons acting on its behalf are expressly qualified in their entirety by the
cautionary statements set forth in Raptor's reports filed with the SEC. Raptor
expressly disclaims any intent or obligation to update any forward-looking
statements.
CONTACT: Trout Group (investors)
Lauren Glaser
(646) 378-2972
lglaser(at)troutgroup.com
EVC Group (media)
Janine McCargo
(646) 688-0425
jmccargo(at)evcgroup.com
News Source: NASDAQ OMX
13.09.2011 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Raptor Pharmaceutical Corp.
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US75382F1066
WKN:
End of Announcement DGAP News-Service
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