Stronger Balance Sheet Further Supports Late-Stage Pipeline
NEW YORK--(BUSINESS WIRE)--
Pharmaceuticals, Inc. (NYSE MKT:ATNM) ("Actinium" or "the Company"),
a biopharmaceutical company developing innovative targeted payload
immunotherapeutics for the treatment of advanced cancers, today
announced that the underwriters of the previously announced offering of
1,670,000 common shares of Actinium exercised their over-allotment
option to purchase an additional 157,123 shares from the Company for
$7.50 per share. The public offering previously closed on June 30, 2014.
Including the exercise of the over-allotment option of $1.2 million,
gross, Actinium’s offering totaled 1,827,123 shares, representing gross
proceeds of approximately $13.7 million and a net amount of
approximately $12.6 million after deducting the underwriting discount
and the other offering expenses.
“The over-allotment helps to advance both Iomab™-B into the planned
Phase 3 trial and Actimab-A in the current Phase 1/2 trial. We believe
interim data for Actimab-A, which is expected in December as well as
other key milestones over the next twelve months, will create long-term
value for our shareholders,” said Kaushik J. Dave, Ph.D, President and
CEO of Actinium.
Canaccord Genuity Inc. acted as sole book-running manager for the
proposed offering, Laidlaw & Company (UK) Ltd. acted as lead manager and
MLV & Co. acted as co-manager.
The offering was made pursuant to a shelf registration statement (File
No. 333-194768) previously filed with and declared effective by the U.S.
Securities and Exchange Commission (SEC). This press release does not
constitute an offer to sell, or a solicitation of an offer to buy, any
of the securities, nor shall there be any 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. This offering was made only by means of a
prospectus supplement and accompanying base prospectus.
About Actinium Pharmaceuticals
Actinium Pharmaceuticals, Inc. (www.actiniumpharma.com)
is a New York-based biopharmaceutical company developing innovative
targeted payload immunotherapeutics for the treatment of advanced
cancers. Actinium's targeted radiotherapy is based on its proprietary
delivery platform for the therapeutic utilization of alpha-emitting
actinium-225 and bismuth-213 and certain beta emitting
radiopharmaceuticals in conjunction with monoclonal antibodies. The
Company’s lead radiopharmaceutical Iomab™-B will be used in preparing
patients for hematopoietic stem cell transplant, commonly referred to as
bone marrow transplant. The Company is preparing a single, pivotal,
multicenter Phase 3 clinical study of Iomab™-B in refractory and
relapsed Acute Myeloid Leukemia (AML) patients over the age of 55 with a
primary endpoint of durable complete remission. The Company’s second
program, Actimab-A, is continuing its clinical development in a Phase
1/2 trial for newly diagnosed AML patients over the age of 60 in a
single-arm multicenter trial.
Forward-Looking Statement for Actinium Pharmaceuticals, Inc.
This news release contains “forward-looking statements” as defined in
the Private Securities Litigation Reform Act of 1995. These statements
are based on management's current expectations and involve risks and
uncertainties, which may cause actual results to differ materially from
those set forth in the statements. The forward-looking statements may
include statements regarding product development, product potential, or
financial performance. No forward-looking statement can be guaranteed
and actual results may differ materially from those projected. Actinium
Pharmaceuticals undertakes no obligation to publicly update any
forward-looking statement, whether as a result of new information,
future events, or otherwise.
Actinium Pharmaceuticals, Inc.
Evan Smith, +1 646-840-5442
VP Investor Relations and Finance
Source: Actinium Pharmaceuticals, Inc.