TEL AVIV, Israel, March 22, 2017 /PRNewswire/ --
Therapix Biosciences Ltd. (NASDAQ: TRPX) (TASE: THXBY), a specialtyclinical-stage pharmaceutical company specializing in the development of cannabinoid-based drugs, today announced the pricing of its initial public offering in the United States of 2,000,000 American Depository Shares
The gross proceeds to Therapix from this offering are expected to be $12,000,000, prior to deducting underwriting discounts, commissions and other offering expenses. Therapix has granted the underwriters a 45-day option to purchase up to an additional 300,000 ADSs to cover over-allotments, if any.
Therapix plans to use the net proceeds from the offering to advance the formulation and clinical development efforts for its two lead product candidates, including Phase II clinical trials, and for working capital and other general corporate purposes.
Therapix's ADSs are scheduled to begin trading on the NASDAQ Capital Market on March 22, 2017, under the symbol "TRPX". The offering is expected to close on or about March 27, 2017, subject to customary closing conditions.
Laidlaw & Company (UK) Ltd., is acting as the sole book running manager for the offering.
The Securities and Exchange Commission declared effective a registration statement on Form F-1 relating to these securities on March 21, 2017. A final prospectus relating to this offering will be filed with the SEC. The offering is being made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained by contacting Laidlaw & Company (UK) Ltd., 546 5th Avenue, New York, New York 10036, telephone 212-953-4917, email: firstname.lastname@example.org. Investors may also obtain these documents at no cost by visiting the Securities and Exchange Commission's website at http://www.sec.gov . Before you invest, you should read the prospectus and other documents the Company has filed or will file with the Securities and Exchange Commission for more complete information about the Company and the offering.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
About Therapix Biosciences Ltd.
Therapix Biosciences Ltd. is a specialty clinical-stage pharmaceutical company led by an experienced team of senior executives and scientists, focused on creating and enhancing a portfolio of technologies and assets based on cannabinoid pharmaceuticals. With this focus, the company has initiated two internal drug development programs based on repurposing a U.S. Food and Drug Administration, or FDA, approved synthetic cannabinoid (dronabinol): Joint Pharma developing THX-TS01 targeted to the treatment of Tourette Syndrome, and BrainBright Pharma developing THX-ULD01 targeted to the high value and under-served market of mild cognitive impairments.
This press release contains forward-looking statements about the Company's expectations, beliefs and intentions. Forward-looking statements can be identified by the use of forward-looking words such as "believe", "expect", "intend", "plan", "may", "should", "could", "might", "seek", "target", "will", "project", "forecast", "continue" or "anticipate" or their negatives or variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical matters. For example, forward-looking statements are used in this press release when we discuss the expected timing of the closing of the offering, the use of proceeds, the expected trading of the ADSs on Nasdaq and the description of our technology and its proposed uses. These forward-looking statements involve certain risks and uncertainties, including, among others, risks impacting the ability of the Company to complete any public offering of its securities because of general market conditions or other factors and risks that could cause the Company's results to differ materially from those expected by Company management or otherwise described in or implied by the statements in this press release. Any forward-looking statement in this press release speaks only as of the date of this press release. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws. More detailed information about the risks and uncertainties affecting the Company is contained under the heading "Risk Factors" in Therapix Biosciences Ltd.'s Registration Statement on Form F-1 filed with the SEC, which is available on the SEC's website, http://www.sec.gov.
Contact: Irit Radia email@example.com T: +972 (0)54-6699311
SOURCE Therapix Biosciences
Subscribe to our Free Newsletters!
Cachexia refers to severe muscle and fat loss, anorexia and marked weight loss due to an underlying ...
Exotropia or outward eye deviation is a form of squint. Proper evaluation and timely intervention ...
Glaucoma is a group of disorders involving the optic nerve, often associated with a rise in ...View All