Ampliphi Biosciences Corp (NYSEMKT:APHB)
Ampliphi Biosciences Corp (NYSEMKT:APHB) has announced the pricing of 6,956,522 shares in a new Public offering of common stock and warrants. The company is pricing the offering at $1.50 a share. Net proceeds from the offering are expected to be $9.8 million after deductions for underwriting discounts and commissions.
AmpliPhi Biosciences Public Offering
The warrants will expire in five years. While the common stock and accompanying warrants can only be purchased together, they will be issued separately. Ampliphi Biosciences Corp (NYSEMKT:APHB) has selected Rodman & Renshaw to act as the sole book-running manager for the offering.
Underwriters have also been granted 30 days to purchase an additional 1,043,478 shares at the offering price, less discounts and commissions. AmpliPhi Biosciences plans to use net proceeds from the offering for general corporate purposes that include manufacturing expenses as well as clinical trial expenses.
Personalized Phage Therapies Push
Separately, Ampliphi Biosciences Corp (NYSEMKT:APHB) has unveiled a new strategic emphasis for life-threatening antibiotic resistant infections. Under the new plan, the company plans to offer personalized phage therapies to patients struggling with severe multidrug resistant infections. The company is currently working on making personalized phage therapies available in Australia.
Ampliphi Biosciences Corp (NYSEMKT:APHB) is also looking for potential partners to select eligible patients that will be used in the trials. Emphasis on personalized treatment builds on the company’s tailored bacteriophage therapies that it has been using on patients struggling with life-threatening bacterial pathogens.
The biotechnology company has already collaborated with academic institutions, as well as with the U.S Navy laboratory, to develop personalized treatments. So far, one of the treatments has been used with success to treat a critically ill and comatose patient.
“Bacteriophage therapy holds high promise for treating serious, resistant bacterial infections and for providing much-needed new therapeutic options for patients. I believe this therapeutic modality needs to be rapidly explored in a clinical setting to better understand its potential and make it available to patients, “said Dr. Jonathan Iredell Professor of Medicine and Microbiology at the University of Sydney.
AmpliPhi Biosciences stock was a big mover in Thursday’s trading session having rallied by more than 60% to close at highs of $2.90 a share. The company recently carried out a reverse stock split of its shares that the management says will make the stock more marketable and liquid.
I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.
About the author: Monica Gray has an undergraduate degree in Accounting and an MBA – earned with Honors. She has six years of experience in the financial markets and has been a securities analyst for the past two years.