Intec Pharma Announces Pricing of $6.5 Million Public Offering

JERUSALEM, Jan. 30, 2020 (GLOBE NEWSWIRE) -- Intec Pharma Ltd. (NASDAQ: NTEC) ("Intec" or "the Company") today announced the pricing of its previously announced underwritten public offering of 16,250,000 ordinary shares (which includes pre-funded warrants to purchase ordinary shares in lieu thereof) and warrants to purchase up to 16,250,000 ordinary shares, at a public offering price of $0.40 per ordinary share. The warrants have an exercise price of $0.40 per share, are immediately exercisable, and will expire five years from the date of issuance. In addition, the Company granted the underwriter a 30-day option to purchase up to an additional 2,437,500 ordinary shares and/or warrants to purchase up to 2,437,500 ordinary shares at the public offering price, less underwriting discounts and commissions. The Company expects to receive gross proceeds of $6.5 million from the offering. The offering is expected to close on or about February 4, 2020, subject to customary closing conditions.

H.C. Wainwright & Co. is acting as sole book-running manager for the offering.

A shelf registration statement on Form S-3 relating to the securities being sold in the public offering described above was filed with the U.S. Securities and Exchange Commission (SEC) on March 1, 2019, and was declared effective on March 28, 2019. The offering is being made only by means of a prospectus supplement and accompanying prospectus. A preliminary prospectus supplement and accompanying prospectus relating to the public offering has been filed with the SEC and a final prospectus supplement and accompanying prospectus will be filed with the SEC and, when available, may be obtained for free on the SEC's website located at When available, electronic copies of the final prospectus supplement and accompanying prospectus relating to the public offering may be obtained by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, or by telephone at (646) 975-6996, or by email to

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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 registration or qualification under the securities laws of any such state or jurisdiction.

About Intec Pharma Ltd.

Intec Pharma is a clinical-stage biopharmaceutical company focused on developing drugs based on its proprietary Accordion Pill platform technology. The Company's Accordion Pill is an oral drug delivery system that is designed to improve the efficacy and safety of existing drugs and drugs in development by utilizing an efficient gastric retention and specific release mechanism. The Company's product pipeline includes two product candidates in clinical trial stages: Accordion Pill Carbidopa/Levodopa, or AP-CD/LD, which is in late-stage development for the treatment of Parkinson's disease symptoms in advanced Parkinson's disease patients, and AP-cannabinoids, an Accordion Pill to deliver either or both of the primary cannabinoids contained in Cannabis sativa, cannabidiol (CBD) and tetrahydrocannabinol (THC) for various pain indications. In addition, the Company has a research collaboration with Merck & Co.

For more information, visit Intec Pharma routinely posts information that may be important to investors in the Investor Relations section of its website.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward looking statements about our 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. These forward-looking statements are based on assumptions and assessments made in light of management's experience and perception of historical trends, current conditions, expected future developments and other factors believed to be appropriate. Forward-looking statements in this press release are made as of the date of this press release, and we undertake no duty to update or revise any such statements, whether as a result of new information, future events or otherwise, except as required by laws. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, many of which are outside of our control. These risks and uncertainties include, without limitation, risks and uncertainties related to market conditions, timing and completion of the public offering, the risk that the public offering will not be consummated, and the satisfaction of customary closing conditions related to the public offering. There can be no assurance that we will be able to complete the public offering. Many factors could cause our actual activities or results to differ materially from the activities and results anticipated in forward-looking statements, including, but not limited to, the following: our limited operating history and history of operating losses, our ability to continue as a going concern, our ability to obtain additional financing, our ability to successfully operate our business or execute our business plan, the timing and cost of our clinical trials, the completion and receiving favorable results in our clinical trials, our ability to obtain and maintain regulatory approval of our product candidates, our ability to protect and maintain our intellectual property and licensing arrangements, our ability to develop, manufacture and commercialize our product candidates, the risk of product liability claims, the availability of reimbursement, and the influence of extensive and costly government regulation. More detailed information about the risks and uncertainties affecting us is contained under the heading "Risk Factors" included in our most recent Annual Report on Form 10-K filed with the SEC on February 27, 2019, and in the preliminary prospectus contained in the registration statement related to the public offering filed with the SEC on January 30, 2020, and in other filings that we have made and may make with the Securities and Exchange Commission in the future.

Intec Pharma Investor Contact:

Anne Marie Fields
VP-Corporate Communications & Investor Relations


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