ASLAN Pharmaceuticals Secures $5 Million in Direct Offering
March 13, 2024, 4:02 pm
ASLAN Pharmaceuticals, a biopharmaceutical company on a mission to revolutionize patient care, has clinched a $5 million deal through a direct offering. The company has struck a definitive agreement to sell 5,000,000 of its American Depositary Shares (ADSs) at $1.00 per ADS. Additionally, ASLAN will issue unregistered warrants for the purchase of up to 5,000,000 ADSs. The offering is set to close around March 14, 2024, pending standard closing conditions.
H.C. Wainwright & Co. is spearheading the offering as the exclusive placement agent. The expected gross proceeds from this transaction are $5 million, earmarked for fueling new research and development initiatives, ongoing projects, working capital, and general corporate needs.
The ADSs are being offered under a shelf registration statement on Form F-3, with the warrants being issued in a concurrent private placement under Section 4(a)(2) of the Securities Act of 1933. The warrants and underlying ADSs have not been registered under the Securities Act or state securities laws, limiting their sale in the U.S. to compliance with registration or exemption requirements.
ASLAN Pharmaceuticals is a forward-thinking player in the biopharmaceutical landscape, focusing on immunology. The company is actively developing eblasakimab, a groundbreaking antibody targeting the IL-13 receptor for moderate-to-severe atopic dermatitis, and farudodstat, a potent oral inhibitor of DHODH for alopecia areata. With positive Phase 2b data for eblasakimab and a Phase 2a trial for farudodstat underway, ASLAN is at the forefront of innovation.
In a world where uncertainty looms, ASLAN Pharmaceuticals remains steadfast in its commitment to transforming patient lives. The company's strategic vision, coupled with its relentless pursuit of scientific excellence, positions it as a key player in the biopharmaceutical arena. With teams in San Mateo, California, and Singapore, ASLAN is poised to make a lasting impact on the healthcare landscape.
Forward-looking statements in this release underscore the company's dedication to transparency and accountability. ASLAN Pharmaceuticals remains vigilant in its pursuit of clinical development milestones, business strategies, and collaboration efforts. The company's unwavering focus on safety, efficacy, and patient outcomes drives its mission to deliver innovative treatments that address unmet medical needs.
Media and investor relations contacts stand ready to provide further information and insights into ASLAN Pharmaceuticals' journey. With a commitment to source transparency and ethical reporting, ASLAN Pharmaceuticals continues to set the standard for responsible corporate communication in the healthcare and pharmaceutical sectors.
H.C. Wainwright & Co. is spearheading the offering as the exclusive placement agent. The expected gross proceeds from this transaction are $5 million, earmarked for fueling new research and development initiatives, ongoing projects, working capital, and general corporate needs.
The ADSs are being offered under a shelf registration statement on Form F-3, with the warrants being issued in a concurrent private placement under Section 4(a)(2) of the Securities Act of 1933. The warrants and underlying ADSs have not been registered under the Securities Act or state securities laws, limiting their sale in the U.S. to compliance with registration or exemption requirements.
ASLAN Pharmaceuticals is a forward-thinking player in the biopharmaceutical landscape, focusing on immunology. The company is actively developing eblasakimab, a groundbreaking antibody targeting the IL-13 receptor for moderate-to-severe atopic dermatitis, and farudodstat, a potent oral inhibitor of DHODH for alopecia areata. With positive Phase 2b data for eblasakimab and a Phase 2a trial for farudodstat underway, ASLAN is at the forefront of innovation.
In a world where uncertainty looms, ASLAN Pharmaceuticals remains steadfast in its commitment to transforming patient lives. The company's strategic vision, coupled with its relentless pursuit of scientific excellence, positions it as a key player in the biopharmaceutical arena. With teams in San Mateo, California, and Singapore, ASLAN is poised to make a lasting impact on the healthcare landscape.
Forward-looking statements in this release underscore the company's dedication to transparency and accountability. ASLAN Pharmaceuticals remains vigilant in its pursuit of clinical development milestones, business strategies, and collaboration efforts. The company's unwavering focus on safety, efficacy, and patient outcomes drives its mission to deliver innovative treatments that address unmet medical needs.
Media and investor relations contacts stand ready to provide further information and insights into ASLAN Pharmaceuticals' journey. With a commitment to source transparency and ethical reporting, ASLAN Pharmaceuticals continues to set the standard for responsible corporate communication in the healthcare and pharmaceutical sectors.