Attached files
| file | filename |
|---|---|
| 8-K - NAVIDEA BIOPHARMACEUTICALS, INC. | v202105_8k.htm |
| EX-5.1 - NAVIDEA BIOPHARMACEUTICALS, INC. | v202105_ex5-1.htm |
| EX-1.1 - NAVIDEA BIOPHARMACEUTICALS, INC. | v202105_ex1-1.htm |
| EX-10.4 - NAVIDEA BIOPHARMACEUTICALS, INC. | v202105_ex10-4.htm |
| EX-10.1 - NAVIDEA BIOPHARMACEUTICALS, INC. | v202105_ex10-1.htm |
| EX-10.3 - NAVIDEA BIOPHARMACEUTICALS, INC. | v202105_ex10-3.htm |
| EX-99.1 - NAVIDEA BIOPHARMACEUTICALS, INC. | v202105_ex99-1.htm |
| EX-10.2 - NAVIDEA BIOPHARMACEUTICALS, INC. | v202105_ex10-2.htm |
Exhibit
99.2
 |
IMMEDIATE
RELEASE
CONTACTS:
Brent
Larson
Sr.
VP & CFO
(614)
822-2330
|
November
8, 2010
Gene
Marbach
Makovsky
+ Company
(212)
508-9645
|
NEOPROBE
ANNOUNCES $6 MILLION CAPITAL INVESTMENT
DUBLIN,
OHIO – November 8, 2010 – Neoprobe Corporation (OTCBB: NEOP), a diversified
developer of innovative oncology surgical and diagnostic products, today
announced that it has entered into agreements with institutional investors for a
registered direct offering of approximately 3.2 million shares of common stock
at a price per share of $1.90 for gross proceeds of $6 million. In
addition to the common stock, Neoprobe will issue two series of warrants to the
investors. The Series CC warrants will be exercisable for up to
approximately 1.6 million shares of common stock with an exercise price of $2.11
per share (111% of the price per share of the common stock) and an expiration
date of 12 months following the date of issuance. The Series DD
warrants will be exercisable for up to approximately 1.6 million shares of
common stock with an exercise price of $2.11 per share (111% of the price per
share of the common stock) and an expiration date of 24 months from the date of
issuance. If fully exercised, the Series CC warrants and the Series
DD warrants will provide aggregate proceeds of $6.6 million. The
shares of common stock, warrants and shares of common stock underlying the
warrants are being offered and sold by Neoprobe pursuant to a shelf registration
statement on Form S-3 that was declared effective by the Securities and Exchange
Commission in August 2010.
As
previously disclosed, Neoprobe intends to use the net proceeds from the offering
for general corporate purposes, which may include, among other things, funding
research and development, preclinical and clinical trials, the preparation and
filing of new drug applications and general working capital.
David
Bupp, President and CEO of Neoprobe, commented, "We are pleased to be able to
raise capital with strong support from institutional investors at market
pricing. The incremental capital will assist the Company in moving
forward as we finalize our development of Lymphoseek and our initial development
activities for the RIGScan technology. The nature of the warrants provides a
near-term source of additional development capital. The capital also provides us
with the opportunity to pursue our stated objective of obtaining a listing on
one of the major exchanges."
The
closing of the offering is expected to take place on or about November 11, 2010,
subject to the satisfaction of customary closing conditions.
Rodman &
Renshaw, LLC, a wholly-owned subsidiary of Rodman & Renshaw Capital
Group, Inc., (Nasdaq:RODM - News), acted as the
exclusive placement agent for the offering.
This
announcement shall not constitute an offer to sell or the solicitation of an
offer to buy these securities, nor shall there be any offer or sale of these
securities in any jurisdiction in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities laws of
any such jurisdiction. Any offer will be made only by means of a prospectus,
including a prospectus supplement, forming a part of the effective registration
statement. Copies of the prospectus supplement together with the accompanying
prospectus can be obtained at the Securities and Exchange Commission's website
at http://www.sec.gov or
from Rodman & Renshaw, LLC, 1251 Avenue of the Americas, 20th Floor, New
York, NY 10020.
-more-
About
Neoprobe Corporation
Neoprobe Corporation (OTCBB: NEOP) is a
biomedical company focused on enhancing patient care and improving patient
outcome by meeting the critical intraoperative diagnostic information needs of
physicians and therapeutic treatment needs of patients. Neoprobe
currently markets the neoprobe® GDS line of gamma detection systems
that are widely used by cancer surgeons. In addition, Neoprobe holds
significant interests in the development of related biomedical systems and
radiopharmaceutical agents including Lymphoseek® and RIGScan™. Neoprobe’s subsidiary,
Cira Biosciences, Inc., is also advancing a patient-specific cellular therapy
technology platform called ACT. Neoprobe’s strategy is to deliver
superior growth and shareholder return by maximizing its strong position in
gamma detection technologies and diversifying into new, synergistic biomedical
markets through continued investment and selective
acquisitions. www.neoprobe.com.
Statements
in this news release, which relate to other than strictly historical facts, such
as statements about the Company’s plans and strategies, expectations for future
financial performance, new and existing products and technologies, anticipated
clinical and regulatory pathways, and markets for the Company’s products are
forward-looking statements The words “believe,” “expect,”
“anticipate,” “estimate,” “project,” and similar expressions identify
forward-looking statements that speak only as of the date
hereof. Investors are cautioned that such statements involve risks
and uncertainties that could cause actual results to differ materially from
historical or anticipated results due to many factors including, but not limited
to, the Company’s continuing operating losses, uncertainty of market acceptance
of its products, reliance on third party manufacturers, accumulated deficit,
future capital needs, uncertainty of capital funding, dependence on limited
product line and distribution channels, competition, limited marketing and
manufacturing experience, risks of development of new products, regulatory risks
and other risks detailed in the Company’s most recent Annual Report on Form
10-KSB and other Securities and Exchange Commission filings. The
Company undertakes no obligation to publicly update or revise any
forward-looking statements.
###