Source: Actinium Pharmaceuticals, Inc. 4/18/19
Actinium Pharmaceuticals, Inc.
(NYSE AMERICAN: ATNM) ("Actinium") today announced the pricing of an
underwritten public offering of 42,860,000 shares of its common stock at
a combined public offering price of $0.385
per share of common stock. The Company also announced the pricing of
warrants to purchase up to 42,860,000 shares of common stock at an
exercise price of $0.50 per share and with a term of 5 years commencing on the date of issuance. The offering is expected to close on or about April 23, 2019,
subject to the satisfaction of customary closing conditions. The gross
proceeds to Actinium from this offering are expected to be $16.5 million,
before deducting underwriting discounts and commissions and other
estimated offering expenses payable by Actinium. Actinium intends to use
the net proceeds from the sale of the common stock and warrants to fund
its ongoing pivotal, Phase 3 SIERRA trial for its lead product
candidate Iomab-B and progress Phase 1 trials from its refocused CD33
program to the proof of concept stage. Actinium will also use the
proceeds to support its antibody warhead enabling technology platform,
including its Iomab-ACT program, research and development and general
working capital needs.
William Blair & Company, L.L.C. is acting as sole bookrunner for the offering.
The shares and warrants are being offered pursuant to an effective
shelf registration statement (including a prospectus) on Form S-3 (File
No. 333-216748) filed with the U.S. Securities Exchange Commission (the
"SEC"). A preliminary prospectus supplement, dated April 17, 2019 and accompanying prospectus, dated October 24, 2017, relating to the offering have been filed with the SEC. To obtain a copy of the preliminary prospectus supplement, dated April 17, 2019, and the final prospectus supplement (when available) for this offering, please contact William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, or by calling (800) 621-0687, or emailing prospectus@williamblair.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, 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 the registration
or qualification under the securities laws of such state or
jurisdiction.
About Actinium Pharmaceuticals, Inc.
Actinium Pharmaceuticals Inc. is a clinical-stage biopharmaceutical
company focused on improving patient access and outcomes to cellular
therapies such as BMT or Bone Marrow Transplant and CAR-T with its
proprietary ARC or Antibody Radiation-Conjugates targeted conditioning
technology. Actinium's lead product candidate, Iomab-B, is in a pivotal
Phase 3 trial for re-induction and conditioning prior to a BMT for
patients with active relapsed or refractory AML or Acute Myeloid
Leukemia. BMT is the only curative treatment option for this patient
population and currently no standard of care exists. Actinium's
multi-disease, multi-target pipeline of clinical-stage targeted
conditioning ARC's are designed to target the antigens CD45 and CD33 for
patients with a broad range of hematologic malignancies including Acute
Myeloid Leukemia, Myelodysplastic Syndrome and Multiple Myeloma.
Actinium is also developing its proprietary AWE or Antibody Warhead
Enabling technology platform which utilizes radioisotopes including
iodine-131 and the highly differentiated actinium-225 coupled with
antibodies to target a variety of antigens that are expressed in
hematological and solid tumor cancers. The AWE technology enables
Actinium's internal pipeline and with the radioisotope actinium-225 is
being utilized in a collaborative research partnership with Astellas
Pharma, Inc. Actinium's clinical programs and AWE technology platform
are covered by a portfolio of over 110 patents covering composition of
matter, formulations, methods of use and also methods of manufacturing
the radioisotope Actinium-225 in a cyclotron.
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