AmpliPhi Biosciences Corporation (NYSE AMERICAN: APHB) announced on 10/12/18 the pricing of an underwritten public offering of 16,537,500 shares of its common stock (or pre-funded warrants to purchase common stock in lieu thereof), and common warrants to purchase up to an aggregate of 16,537,500 shares of common stock. Each share of common stock and, as applicable, pre-funded warrant is being sold together with a common warrant to purchase one share of common stock at a combined effective price to the public of $0.40 per share and accompanying common warrant. For each pre-funded warrant AmpliPhi sells, the number of shares of common stock AmpliPhi is offering will be decreased on a one-for-one basis.
The common warrants will be immediately exercisable at a price of $0.40 per share of common stock and will expire five years from the date of issuance. The shares of common stock or the pre-funded warrants, and the accompanying common warrants, can only be purchased together in the offering but will be issued separately and will be immediately separable upon issuance. The offering is expected to close on or about October 16, 2018, subject to customary closing conditions.
AmpliPhi anticipates using the net proceeds from the offering for general corporate purposes, including manufacturing expenses, research and development expenses and general and administrative expenses.
On 10/8/18 the company released positive data related from its expanded access program in S. aureus infections. The company currently has two products in development. One to treat S. aureus infections and one to treat P. aeruginosa infections.
To learn more about bacterphage therapy check out our primer on bacteriophages here.