RegeneRx Biopharmaceuticals, Inc. (NYSE Amex: RGN) (www.regenerx.com), a biopharmaceutical company focused on the development of a novel therapeutic peptide, Thymosin beta 4, for tissue and organ protection, repair and regeneration in cardiovascular diseases, central nervous system injuries, ophthalmic indications and dermal wounds, announced today that it intends to offer units consisting of shares of its common stock and warrants to purchase shares of its common stock in a public offering. The number of units to be issued, the price of each unit, the portion of a common share underlying each warrant and the exercise price per warrant, as well as the size of the offering, will be determined at the time of pricing the offering. Maxim Group LLC is acting as the lead manager for this offering, with Boenning & Scattergood as co-manager. 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 plans to use the net proceeds from this proposed offering to support and fund several clinical trials, including a proposed Phase 2 clinical trial of its product candidate RGN-352 for the treatment of patients with acute myocardial infarction, an ongoing Phase 2 clinical trial of its product candidate RGN-137 in patients with the skin defect epidermolysis bullosa, compassionate use studies of its product candidate RGN-259 in patients with neurotrophic keratitis and a proposed physician-sponsored trial in patients with dry eye associated with graft versus host disease, as well as a proposed Phase 1/2 trial of RGN-352 in patients with multiple sclerosis. The company also plans to use the net proceeds for general corporate purposes, including working capital.
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