Raptor Pharmaceutical Announces At-the-Market Common Stock Sales Program
Raptor Pharmaceutical Corp.
01.05.2012 12:00
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NOVATO, Calif., 2012-05-01 12:00 CEST (GLOBE NEWSWIRE) --
Raptor Pharmaceutical Corp. ('Raptor' or the 'Company') (Nasdaq:RPTP), today
announced that it has entered into an 'At-the-Market' ('ATM') Sales Agreement,
dated April 30, 2012, with Cowen and Company, LLC ('Cowen'), under which Raptor
may, at its discretion, sell its common stock with a sales value of up to a
maximum of $40 million through ATM sales on the NASDAQ Stock Market. Cowen will
act as sole sales agent for any sales made under the ATM. The common stock will
be sold at prevailing market prices at the time of the sale of common stock,
and, as a result, prices may vary. The ATM places no restrictions on Raptor's
ability to enter into and consummate other equity and debt financing
transactions.
Raptor currently intends to use proceeds from any sales from the ATM program to
support general corporate purposes, including the commercial launch of RP103,
Raptor's proprietary, delayed-release cysteamine bitartrate formulation, for
the potential treatment of nephropathic cystinosis, and continued clinical
development for this same compound in non-alcoholic steatohepatitis ('NASH')
and Huntington's Disease.
This ATM will provide Raptor with additional strategic leverage and financial
flexibility as the Company prepares for the commercial launch of RP103.
Sales in the ATM offering would be made pursuant to the prospectus supplement
dated April 30, 2012, which supplements Raptor's prospectus dated January 27,
2012, filed as part of the shelf registration statement that was declared
effective by the Securities and Exchange Commission ('SEC') on February 3,
2012.
For more complete information about Raptor's ATM offering, you are encouraged
to read the prospectus in Raptor's January 27, 2012 shelf registration
statement on Form S-3, the April 30, 2012 prospectus supplement, and other
documents Raptor has filed with the SEC. Copies of the prospectus supplement
and accompanying prospectus relating to the offering may be obtained, when
available, from Cowen and Company, LLC (c/o Broadridge Financial Services, 1155
Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, Phone:
631-274-2806, Fax: 631-254-7140). An electronic copy of the prospectus
supplement and accompanying relating to the offering is available on the
website of the Securities and Exchange Commission at www.sec.gov.
This press release does not constitute an offer to sell or a solicitation of an
offer to buy, nor may there be any sale of Raptor's common stock in any state
or jurisdiction in which such an offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities law of any state or
jurisdiction.
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 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 statements: that
Raptor will sell up to $40 million of its common stock at market prices, if at
all; that Raptor will use proceeds from any sales related to the ATM offering
to support general corporate purposes, including preparation for the commercial
launch of its lead product candidate, RP103 for the potential treatment of
nephropathic cystinosis; that Raptor will obtain marketing approval of RP103
and launch RP103, if at all; and continued clinical development in
non-alcoholic steatohepatitis and Huntington's Disease; and that Raptor will be
able to successfully develop RP103 or any of its other product candidates.
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. Factors which
may significantly change or prevent the Company's forward looking statements
from fruition include: that Raptor may be unsuccessful in developing any
products or acquiring products; that Raptor's technology may not be validated
as it progresses further and its methods may not be accepted by the scientific
community; that Raptor is unable to retain or attract key employees whose
knowledge is essential to the development of its products; that unforeseen
scientific difficulties develop with the Company's process; that Raptor's
patents are not sufficient to protect essential aspects of its technology; that
competitors may invent better technology; that Raptor's products may not work
as well as hoped or worse, that the Company's products may harm recipients; and
that Raptor may not be able to raise sufficient funds for development or
working capital. As well, Raptor's products may never develop into useful
products and even if they do, they may not be approved for sale to the public.
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, as amended by Form10-K/A, filed with the
SEC on November 11, 2011 and December 19, 2011, respectively; and Raptor's
quarterly report on Form 10-Q filed with the SEC on April 9, 2012; all of which
are available free of charge on the SEC's web site 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@troutgroup.com
EVC Group (media)
Janine McCargo
(646) 688-0425
jmccargo@evcgroup.com
News Source: NASDAQ OMX
01.05.2012 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
---------------------------------------------------------------------------
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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Raptor Pharmaceutical Corp.
01.05.2012 12:00
---------------------------------------------------------------------------
NOVATO, Calif., 2012-05-01 12:00 CEST (GLOBE NEWSWIRE) --
Raptor Pharmaceutical Corp. ('Raptor' or the 'Company') (Nasdaq:RPTP), today
announced that it has entered into an 'At-the-Market' ('ATM') Sales Agreement,
dated April 30, 2012, with Cowen and Company, LLC ('Cowen'), under which Raptor
may, at its discretion, sell its common stock with a sales value of up to a
maximum of $40 million through ATM sales on the NASDAQ Stock Market. Cowen will
act as sole sales agent for any sales made under the ATM. The common stock will
be sold at prevailing market prices at the time of the sale of common stock,
and, as a result, prices may vary. The ATM places no restrictions on Raptor's
ability to enter into and consummate other equity and debt financing
transactions.
Raptor currently intends to use proceeds from any sales from the ATM program to
support general corporate purposes, including the commercial launch of RP103,
Raptor's proprietary, delayed-release cysteamine bitartrate formulation, for
the potential treatment of nephropathic cystinosis, and continued clinical
development for this same compound in non-alcoholic steatohepatitis ('NASH')
and Huntington's Disease.
This ATM will provide Raptor with additional strategic leverage and financial
flexibility as the Company prepares for the commercial launch of RP103.
Sales in the ATM offering would be made pursuant to the prospectus supplement
dated April 30, 2012, which supplements Raptor's prospectus dated January 27,
2012, filed as part of the shelf registration statement that was declared
effective by the Securities and Exchange Commission ('SEC') on February 3,
2012.
For more complete information about Raptor's ATM offering, you are encouraged
to read the prospectus in Raptor's January 27, 2012 shelf registration
statement on Form S-3, the April 30, 2012 prospectus supplement, and other
documents Raptor has filed with the SEC. Copies of the prospectus supplement
and accompanying prospectus relating to the offering may be obtained, when
available, from Cowen and Company, LLC (c/o Broadridge Financial Services, 1155
Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, Phone:
631-274-2806, Fax: 631-254-7140). An electronic copy of the prospectus
supplement and accompanying relating to the offering is available on the
website of the Securities and Exchange Commission at www.sec.gov.
This press release does not constitute an offer to sell or a solicitation of an
offer to buy, nor may there be any sale of Raptor's common stock in any state
or jurisdiction in which such an offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities law of any state or
jurisdiction.
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 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 statements: that
Raptor will sell up to $40 million of its common stock at market prices, if at
all; that Raptor will use proceeds from any sales related to the ATM offering
to support general corporate purposes, including preparation for the commercial
launch of its lead product candidate, RP103 for the potential treatment of
nephropathic cystinosis; that Raptor will obtain marketing approval of RP103
and launch RP103, if at all; and continued clinical development in
non-alcoholic steatohepatitis and Huntington's Disease; and that Raptor will be
able to successfully develop RP103 or any of its other product candidates.
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. Factors which
may significantly change or prevent the Company's forward looking statements
from fruition include: that Raptor may be unsuccessful in developing any
products or acquiring products; that Raptor's technology may not be validated
as it progresses further and its methods may not be accepted by the scientific
community; that Raptor is unable to retain or attract key employees whose
knowledge is essential to the development of its products; that unforeseen
scientific difficulties develop with the Company's process; that Raptor's
patents are not sufficient to protect essential aspects of its technology; that
competitors may invent better technology; that Raptor's products may not work
as well as hoped or worse, that the Company's products may harm recipients; and
that Raptor may not be able to raise sufficient funds for development or
working capital. As well, Raptor's products may never develop into useful
products and even if they do, they may not be approved for sale to the public.
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, as amended by Form10-K/A, filed with the
SEC on November 11, 2011 and December 19, 2011, respectively; and Raptor's
quarterly report on Form 10-Q filed with the SEC on April 9, 2012; all of which
are available free of charge on the SEC's web site 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@troutgroup.com
EVC Group (media)
Janine McCargo
(646) 688-0425
jmccargo@evcgroup.com
News Source: NASDAQ OMX
01.05.2012 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
---------------------------------------------------------------------------
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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