Catabasis Pharmaceuticals Announces Pricing of $42 Million Underwritten Public Offering
Each common warrant has an exercise price of
The gross proceeds of the offering are expected to be approximately
Catabasis intends to use the net proceeds from the offering for the planned Phase 3 clinical trial of edasalonexent for the treatment of Duchenne muscular dystrophy, as well as for working capital and general corporate purposes.
The securities described above are being offered pursuant to a
registration statement on Form S-1 (File No. 333-225410), as amended,
which was declared effective by the
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other 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 other jurisdiction.
About Catabasis
At
Forward Looking Statements
Certain statements in this press
release that are forward-looking and not statements of historical fact,
such as statements regarding the anticipated completion, timing, and
size of the public offering and the anticipated use of net proceeds
therefrom, are forward-looking statements within the meaning of the safe
harbor provisions of the Private Securities Litigation Reform Act of
1995. These forward-looking statements may be identified by words such
as “expect,” “intend,” “anticipate,” “believe,” or similar expressions
that are intended to identify such forward-looking statements. The
Company cautions that such statements involve risks and uncertainties
that may materially affect the Company’s results of operations. Such
forward-looking statements are based on the beliefs of management as
well as assumptions made by and information currently available to
management. Actual results could differ materially from those
contemplated by the forward-looking statements as a result of certain
factors, including but not limited to the risks and uncertainties
associated with market conditions, the satisfaction of customary closing
conditions relating to the offering and the Company’s intended use of
proceeds, as well as risks and uncertainties detailed in the Company’s
filings with the
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Source:
Investor and Media Contact
Catabasis
Pharmaceuticals, Inc.
Andrea Matthews, 617-349-1971
amatthews@catabasis.com