CORONADO BIOSCIENCES, INC. ANNOUNCES THE PRICING OF PUBLIC
OFFERING OF COMMON STOCK
Burlington, MA - June 22, 2012 - Coronado Biosciences, Inc.
(NASDAQ: CNDO), a biopharmaceutical company focused on the
development of novel immunotherapy biologic agents for the
treatment of autoimmune diseases and cancer, announced today
the pricing of its underwritten public offering of
5,000,000 shares of its common stock at a price to the public
of $5.00 per share for gross proceeds to Coronado of $25.0
million. Coronado expects to receive approximately $23.0
million in net proceeds from the offering, after deducting
underwriting discount and estimated offering expenses. The
Company also has granted the underwriters a 30-day option to
purchase up to an aggregate of 750,000 additional shares of
common stock to cover over-allotments, if any. The offering
is expected to close on June 27,
2012, subject to customary closing conditions.
Oppenheimer & Co. Inc. and Roth Capital Partners are acting
as joint book-running managers for the offering. National
Securities Corporation is acting as an underwriter for the
offering. The Company expects to use the net proceeds from
the sale of the shares primarily to fund clinical trials for
the Company's product candidates, to fund the
Company's research and development activities, for
working capital and general corporate purposes.
The offering is being made pursuant to a registration
statement previously filed with and subsequently declared
effective by the Securities and Exchange Commission. A
prospectus relating to the offering will be filed with the
SEC and will be available at the SEC's website at http://www.sec.gov.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, and there shall not be any
sale of these securities in any state in which such an offer,
solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of
any such state.
Copies of the prospectus may be obtained by sending a request
to the offices of Oppenheimer & Co. Inc., Attention:
Syndicate Prospectus Department, 85 Broad Street, 26th Floor,
New York, NY, 10004, (212) 667-8563,
EquityProspectus@opco.com, or Roth Capital Partners, LLC,
Attention: Equity Capital Markets, 888 San Clemente Drive,
Newport Beach, CA 92660, (800) 678-9147, firstname.lastname@example.org.
About Coronado Biosciences
Coronado Biosciences is engaged in the development of novel
immunotherapy biologic agents. The company's two principal
pharmaceutical product candidates in clinical development
are: TSO (Trichuris suis ova or CNDO-201), a biologic for the
treatment of autoimmune diseases, such as Crohn's disease,
ulcerative colitis and multiple sclerosis; and CNDO-109, a
biologic that activates natural killer (NK) cells, for the
treatment of acute myeloid leukemia (AML) and solid tumors.
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This press release may contain "forward-looking
statements" within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Such statements include, but are not
limited to, any statements relating to the company's
product development programs and any other statements that
are not historical facts. Forward-looking statements are
based on management's current expectations and are subject to
risks and uncertainties that could negatively
affect our business, operating results, financial condition
and stock price. Factors that could cause actual results to
differ materially from those currently anticipated risks
relating to the results of research and development
activities, uncertainties relating to preclinical and
clinical testing, financing and strategic agreements and
relationships, the early stage of products under development,
our need for substantial additional funds, government
regulation, patent and intellectual property matters; our
dependence on third party suppliers and competition, as well
as other risks described in our SEC filings. We expressly
disclaim any obligation or undertaking to release publicly
any updates or revisions to any forward- looking statements
contained herein to reflect any change in our expectations or
any changes in events, conditions or circumstances on which
any such statement is based, except as required by law.
Lucy Lu, MD, Executive Vice President & Chief Financial
Coronado Biosciences, Inc.
Marcy Nanus, Vice President
The Trout Group, LLC.
Dennis S. Dobson Jr., CEO Dobson Media Group