Zosano Pharma Announces Proposed Public Offering of Common Stock

Rhea-AI Summary

Zosano Pharma Corporation (Nasdaq: ZSAN) announced the launch of an underwritten public offering of its common stock. The offering is contingent upon market conditions, with no assurance regarding its completion or the final terms. BTIG is the sole book-running manager for this offering. The company has filed a registration statement with the SEC, effective as of April 16, 2020. Zosano focuses on developing innovative drug delivery systems to benefit patients, particularly those underserved by current therapies.

Positive

• None.

Negative

• Public offering may lead to shareholder dilution due to new shares being issued.
• Uncertainty regarding market conditions could impact the offering's success.

FREMONT, Calif., Aug. 31, 2020 (GLOBE NEWSWIRE) -- Zosano Pharma Corporation (Nasdaq:ZSAN), a clinical-stage biopharmaceutical company, today announced that it has commenced an underwritten public offering of shares of its common stock. All of the shares to be sold in the offering will be offered by Zosano. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering.

BTIG is the sole book-running manager for the proposed offering.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission (SEC) and became effective on April 16, 2020. The offering is being made only by means of a written prospectus and prospectus supplement that will form a part of the registration statement. A preliminary prospectus supplement and the accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and the accompanying prospectus may be obtained, when available, from BTIG, LLC, 65 East 55th Street, New York, NY, 10022, by email at equitycapitalmarkets@btig.com or by telephone at (212) 593-7555.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful, prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Zosano Pharma

Zosano Pharma Corporation is a clinical-stage biopharmaceutical company focused on developing products where rapid administration of approved molecules with established safety and efficacy profiles may provide substantial benefit to patients, in markets where patients remain underserved by existing therapies. The company’s transdermal microneedle system technology consists of titanium microneedles coated with drug that are designed to enable rapid systemic administration of therapeutics to patients. Zosano’s lead product candidate is Qtrypta™ (M207), which is a proprietary formulation of zolmitriptan delivered via its transdermal microneedle system technology, as an acute treatment for migraine. The company anticipates that many of its current and future development programs may enable the company to utilize a regulatory pathway that has the potential to streamline clinical development and accelerate the path towards commercialization.

Forward-Looking Statements

To the extent that statements contained in this press release are not descriptions of historical facts regarding Zosano, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve substantial risks and uncertainties that could cause Zosano’s future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all. Zosano undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to Zosano’s business in general, please refer to Zosano’s preliminary prospectus supplement to be filed with the SEC, including the documents incorporated by reference therein, which include Zosano’s Annual Report on Form 10-K filed with the SEC on March 13, 2020, Zosano’s Quarterly Reports on Form 10-Q filed with the SEC on May 14, 2020 and August 6, 2020, and Zosano’s other periodic reports filed with the SEC.

Zosano Contact:
Christine Matthews
Chief Financial Officer
(510) 745-1200

PR Contact:
Sylvia Wheeler and Alexandra Santos
swheeler@wheelhouselsa.com/asantos@wheelhouselsa.com

FAQ

What is the purpose of Zosano Pharma's public offering?

Zosano Pharma's public offering aims to raise capital, though specific uses of the funds weren't disclosed.

Who is managing Zosano Pharma's public offering?

BTIG is the sole book-running manager for Zosano Pharma's public offering.

When was the registration statement for Zosano Pharma's offering filed?

The registration statement for the public offering was filed with the SEC and became effective on April 16, 2020.

What are the risks associated with Zosano Pharma's public offering?

Risks include uncertainties related to market conditions and the potential dilution of existing shareholders.