|By Marketwired .||
|December 13, 2012 04:02 PM EST||
SAN DIEGO, CA -- (Marketwire) -- 12/13/12 -- Lpath, Inc. (NASDAQ: LPTN) today announced that it intends to offer and sell shares of its common stock in an underwritten public offering. The offering is subject to market conditions and there can be no assurance as to whether or when the offering may be complete, or as to the actual size or terms of the offering. Summer Street Research Partners is acting as sole book-running manager for the offering.
The securities described above are being offered by Lpath pursuant to a shelf registration statement previously filed with and declared effective by the Securities and Exchange Commission ("SEC") on November 14, 2012. A preliminary prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC's website located at www.sec.gov.
Copies of the preliminary prospectus supplement and the accompanying prospectus relating to this offering may be obtained from Summer Street Research Partners, Attention: Prospectus Department, at 101 Arch Street, Boston, MA 02110, or via telephone at (617) 532-6433, or via email at [email protected].
This press release does not and shall not constitute an offer to sell or the solicitation of an offer to buy, nor will 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.
San Diego-based Lpath, Inc. is focused on developing lipid-targeted therapeutics, an emerging field of medicine that targets bioactive signaling lipids for the treatment of human disease. The company has developed three drug candidates: iSONEP is currently in a Phase 2 trial for wet AMD; ASONEP is scheduled to begin a Phase 2 trial in Renal Cell Carcinoma patients; and Lpathomab is a preclinical drug candidate.
About Forward-Looking Statements
The Company cautions you that the statements included in this press release that are not a description of historical facts are forward-looking statements. These include statements regarding the Company's proposed public offering of its common stock. Actual results may differ materially from those set forth in this press release due to the risks and uncertainties inherent in the Company's business, including, without limitation: the results of the Company's pre-clinical testing and its clinical trials may not support either further clinical development or the commercialization of its drug candidates; the Company may not successfully complete additional clinical trials for its product candidates on a timely basis, or at all; the Company may fail to obtain required governmental approvals for any its drug candidates; the Company has a history of net losses and may never achieve or maintain profitability; the Company may not be successful in maintaining its commercial relationship with Pfizer Inc.; and the Company may not be able to secure the funds necessary to support its preclinical- and clinical-development plans. More detailed information about the risk factors and uncertainties that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"), including its Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and its other filings with the SEC. These documents may be read free of charge on the SEC's website at www.sec.gov. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement and the Company undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995.
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