DGAP-News: RedHill Biopharma Ltd. / Key word(s): Transaction in Own Shares
RedHill Biopharma Announces Proposed Public Offering of its American
Depository Shares
02.11.2016 / 08:24
The issuer is solely responsible for the content of this announcement.
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RedHill Biopharma Announces Proposed Public Offering of its American
Depository Shares
TEL-AVIV, Israel, November 1, 2016 RedHill Biopharma Ltd. (NASDAQ/TASE:
RDHL) ("RedHill" or the "Company"), a biopharmaceutical company primarily
focused on the development and commercialization of late clinical-stage,
proprietary, orally-administered, small molecule drugs for gastrointestinal
and inflammatory diseases and cancer, today announced that it intends to
offer its American Depository Shares ("ADSs"), each representing ten of its
ordinary shares, in an underwritten public offering. RedHill also expects
to grant the underwriters a 30-day option to purchase up to an additional
15% of the ADSs offered to the public. The offering is subject to market
conditions and there can be no assurance as to whether or when the offering
may be completed, or as to the actual size or terms of the offering.
The Company intends to use the proceeds from the offering to fund clinical
development programs, for potential acquisitions, to support commercial
operations and for general corporate purposes.
Roth Capital Partners and FBR are acting as joint book-running managers and
Echelon Wealth Partners is acting as Canadian manager for the offering with
respect to sales in Canada.
The ADSs will be issued pursuant to a shelf registration statement that was
previously filed with, and declared effective by, the Securities and
Exchange Commission (the "SEC"). A preliminary prospectus supplement
related to the offering has been filed with the SEC and is available on the
SEC's website located at www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to the registration or qualification under the
securities laws of any such jurisdiction.
This offering will be made only by means of a prospectus. Copies of the
preliminary prospectus supplement and the accompanying prospectus relating
to the offering may be obtained, when available, by contacting Roth Capital
Partners, Attention: Equity Capital Markets, 888 San Clemente Drive,
Newport Beach, CA 92660, or by telephone at 800-678-9147, or FBR,
Attention: Syndicate Prospectus Department, 1300 North 17th Street, Suite
1400, Arlington, VA 22209, or by telephone at 703-312-9726, or by email at
prospectuses@fbr.com.
About RedHill Biopharma Ltd.:
RedHill Biopharma Ltd. (NASDAQ/TASE: RDHL) is a biopharmaceutical company
headquartered in Israel, primarily focused on the development and
commercialization of late clinical-stage, proprietary, orally-administered,
small molecule drugs for the treatment of gastrointestinal and inflammatory
diseases and cancer. RedHill's current pipeline of proprietary products
includes: (i) RHB-105 - an oral combination therapy for the treatment of
Helicobacter pylori infection with successful results from a first Phase
III study; (ii) RHB-104 - an oral combination therapy for the treatment of
Crohn's disease with an ongoing first Phase III study and an ongoing proof-
of-concept Phase IIa study for multiple sclerosis; (iii) BEKINDA(R)
(RHB-102) - a once-daily oral pill formulation of ondansetron with an
ongoing Phase III study for acute gastroenteritis and gastritis and an
ongoing Phase II study for IBS-D; (iv) RHB-106 - an encapsulated bowel
preparation licensed to Salix Pharmaceuticals, Ltd.; (v) YELIVA(TM)
(ABC294640) - a Phase II-stage, orally-administered, first-in-class SK2
selective inhibitor targeting multiple oncology, inflammatory and
gastrointestinal indications; (vi) MESUPRON - a Phase II-stage first-in-
class, orally-administered uPA inhibitor, targeting gastrointestinal and
other solid tumors; (vii) RP101 - currently subject to an option-to-acquire
by RedHill, RP101 is a Phase II-stage first-in-class, orally-administered
Hsp27 inhibitor, targeting pancreatic and other gastrointestinal cancers;
(viii) RIZAPORT(R) (RHB-103) - an oral thin film formulation of rizatriptan
for acute migraines, with a U.S. NDA currently under discussion with the
FDA and marketing authorization received in Germany in October 2015; and
(ix) RHB-101 - a once-daily oral pill formulation of the cardio drug
carvedilol.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995. Such statements
may be preceded by the words "intends," "may," "will," "plans," "expects,"
"anticipates," "projects," "predicts," "estimates," "aims," "believes,"
"hopes," "potential" or similar words. Forward-looking statements are based
on certain assumptions and are subject to various known and unknown risks
and uncertainties, many of which are beyond the Company's control, and
cannot be predicted or quantified and consequently, actual results may
differ materially from those expressed or implied by such forward-looking
statements. Such risks and uncertainties include, without limitation, risks
and uncertainties associated with (i) the initiation, timing, progress and
results of the Company's research, manufacturing, preclinical studies,
clinical trials, and other therapeutic candidate development efforts; (ii)
the Company's ability to advance its therapeutic candidates into clinical
trials or to successfully complete its preclinical studies or clinical
trials; (iii) the extent and number of additional studies that the Company
may be required to conduct and the Company's receipt of regulatory
approvals for its therapeutic candidates, and the timing of other
regulatory filings, approvals and feedback; (iv) the manufacturing,
clinical development, commercialization, and market acceptance of the
Company's therapeutic candidates; (v) the Company's ability to establish
and maintain corporate collaborations; (vi) the Company's ability to
acquire products approved for marketing in the U.S. that achieve commercial
success and build its own marketing and commercialization capabilities;
(vii) the interpretation of the properties and characteristics of the
Company's therapeutic candidates and of the results obtained with its
therapeutic candidates in research, preclinical studies or clinical trials;
(viii) the implementation of the Company's business model, strategic plans
for its business and therapeutic candidates; (ix) the scope of protection
the Company is able to establish and maintain for intellectual property
rights covering its therapeutic candidates and its ability to operate its
business without infringing the intellectual property rights of others; (x)
parties from whom the Company licenses its intellectual property defaulting
in their obligations to the Company; (xi) estimates of the Company's
expenses, future revenues capital requirements and the Company's needs for
additional financing; (xii) competitive companies and technologies within
the Company's industry; and (xiii) the impact of the political and security
situation in Israel on the Company's business. More detailed information
about the Company and the risk factors that may affect the realization of
forward-looking statements is set forth in the Company's filings with the
Securities and Exchange Commission (SEC), including the Company's Annual
Report on Form 20-F filed with the SEC on February 25, 2016. All forward-
looking statements included in this Press Release are made only as of the
date of this Press Release. We assume no obligation to update any written
or oral forward-looking statement unless required by law.
<pre>
Company contact: IR contact (U.S.):
Adi Frish Marcy Nanus
Senior VP Business Development & Senior Vice President
Licensing The Trout Group
RedHill Biopharma +1-646-378-2927
+972-54-6543-112 Mnanus@troutgroup.com
adi@redhillbio.com
</pre>
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02.11.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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516489 02.11.2016
DGAP-News: RedHill Biopharma Announces Proposed Public Offering of its American Depository Shares
| Source: EQS Group AG