The net proceeds to the Company are approximately $5.8 million after placement agent fees and other offering expenses. PharmAthene intends to use the net proceeds from the offering for general corporate purposes.
Leerink Swann served as lead placement agent and Noble Financial Capital Markets served as co-placement agent in the offering. The securities described above were offered by PharmAthene pursuant to a registration statement previously filed and declared effective by the Securities and Exchange Commission. Additional information and details with respect to the offering are included in a prospectus supplement that PharmAthene has filed with the Securities and Exchange Commission. The registration statement and prospectus supplement may be obtained from the Securities and Exchange Commission's website at www.sec.gov. This press release does not constitute an offer to sell, nor is it a solicitation of an offer to buy any securities, nor shall there be any sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. The securities may be offered only by means of the prospectus supplement and the related prospectus.
About PharmAthene, Inc.
PharmAthene is a biodefense company engaged in the development and commercialization of medical countermeasures against biological and chemical weapons. Its current lead product candidates are:
- SparVax™, a second generation recombinant protective antigen ("rPA") anthrax vaccine
- Valortim®, a fully human monoclonal antibody for the prevention and treatment of anthrax infection, and
- BChE (recombinant butyrylcholinesterase), - countermeasures for nerve agent poisoning by organophosphorous compounds, including nerve gases and pesticides
