SOURCE: Actinium Pharmaceuticals
Actinium Pharmaceuticals, Inc. ("Actinium" or the "Company") (NYSE MKT: ATNM),
a biopharmaceutical company developing innovative targeted payload
immunotherapeutics for the treatment of advanced cancers, announced
today the closing of its previously announced registered direct offering
of $5.0 million of its common stock. Under the terms of the
subscription agreements, the Company issued an aggregate of 1,923,078
shares of the Company's common stock at a purchase price of $2.60 per
share. This financing was led by investor Dr. Phillip Frost.
Actinium
anticipates using the net proceeds for general corporate purposes,
including capital expenditures, the advancement of our product
candidates in clinical trials, such as Iomab™-B and Actimab-A,
preclinical trials, to support licensing activities, and to meet working
capital needs.
Laidlaw & Company (UK) Ltd. acted as the sole placement agent with respect to the offering.
The
securities were offered pursuant to the Company's effective shelf
registration statement previously filed with the Securities and Exchange
Commission on Form S-3. A prospectus supplement relating to the
offering is filed with the SEC and will be available free of charge on
the SEC's website at www.sec.gov.
Copies of the final prospectus relating to the offering may be obtained
from Laidlaw & Company (UK) Ltd. 546 Fifth Avenue, New York, NY
10036, Attn: Syndicate Department, telephone: 212-953-4900, email: syndicate@laidlawltd.com, or from the above-mentioned SEC website.
This
press release does 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 Actinium Pharmaceuticals
Actinium Pharmaceuticals, Inc. (www.actiniumpharma.com)
is a New York-based biopharmaceutical company developing innovative
targeted payload immunotherapeutics for the treatment of advanced
cancers. Actinium's targeted radiotherapy products are based on its
proprietary delivery platform for the therapeutic utilization of
alpha-emitting actinium-225 and bismuth-213 and certain beta emitting
radiopharmaceuticals in conjunction with monoclonal antibodies. The
Company's lead radiopharmaceutical Iomab-B will be used, upon approval,
in preparing patients for hematopoietic stem cell transplant, commonly
referred to as bone marrow transplant. The Company is preparing a
single, pivotal, multicenter Phase 3 clinical study of Iomab-B in
refractory and relapsed AML patients over the age of 55 with a primary
endpoint of durable complete remission. The Company's second program,
Actimab-A, is continuing its clinical development in a Phase 1/2 trial
for newly diagnosed AML patients over the age of 60 in a single-arm
multicenter trial.
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