|Derma Sciences Closes $36.4 Million Underwritten Public Offering of Common Stock, Including Full Over-Allotment|
Total net proceeds to the Company were approximately
“The closing of this offering is a significant achievement in supporting our strategy of leadership in advanced wound care,” said Edward J. Quilty, president and chief executive officer of the Company. “We plan to begin our Phase 3 studies with DSC127 in diabetic patients with non-healing foot ulcers in the coming weeks and we believe the capital raised through this offering provides the Company with the financial strength and opportunistic flexibility to maximize shareholder value.
“In the meantime,” Mr. Quilty continued, “we continue to focus activities on our commercial advanced wound care product line, and our dedicated sales force continues to offer a wide variety of technologically innovative, high-margin products to the 1,200 wound care centers across the U.S. and select international markets.”
The offering was made pursuant to a shelf registration statement (No.
333-173870) that was previously filed with and declared effective by the
A final prospectus supplement and accompanying prospectus relating to
the offering was filed with the
This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This offering may be made only by means of a prospectus supplement and accompanying base prospectus.
For more information please visit www.dermasciences.com.
Statements contained in this news release that are not statements of
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limiting the generality of the foregoing, words such as "may," "will,"
"expect," "believe," "anticipate," "intend," "could," "estimate" or
"continue" are intended to identify forward-looking statements. Readers
are cautioned that certain important factors may affect the Company's
actual results and could cause such results to differ materially from
any forward-looking statements that may be made in this news release or
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affect the Company's results include, but are not limited to, product
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product development, completion of an acquisition, commercialization or
technological difficulties, the success or failure of negotiations and
trade, legal, social and economic risks. Additional factors that could
cause or contribute to differences between the Company's actual results
and forward-looking statements include but are not limited to, those
discussed in the Company's filings with the
Derma Sciences, Inc.