Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Q BioMed prices US$5.5mln offering as it's poised for catalyst-rich year

"2018 is a catalyst-rich year for us. We have several major milestones on the near horizon..." said Corin
Q BioMed prices US$5.5mln offering as it's poised for catalyst-rich year
Q BioMed is eyeing a very busy and successful 2018

Biotech accelerator firm Q BioMed Inc (OTCMKTS:QBIO) has priced its public offering with funds to be used for the commercialization of its first approved drug and pivotal clinical programmes in 2018.

The group will issue over 1.7mln shares, together with warrants, to buy up to the same amount of company shares, with a price of US$3.20, to raise US$5.5mln.

READ: Q Biotech "accelerator" Q BioMed has several shots at goal

"2018 is a catalyst-rich year for us. We have several major milestones on the near horizon and this capital provides the means to get there," a delighted Denis Corin, chief executive, told investors.

"In addition, given that we settled all our convertible debt at the end last year, this cash will boost our shareholder equity, further progressing us towards an uplisting on a senior national exchange."

READ: Q BioMed shares up; Corin to present at California conference

The proceeds will provide enough capital to execute on several milestones in the first half of 2018 and beyond, the firm said. These include:

The commercialization of the group's licensed FDA approved drug, Strontium Chloride 89 (SR89) for the treatment of skeletal pain associated with metastatic cancers.

Initiating the planning and IND filing for a Phase 4 post-marketing study to expand the indication of the approved SR89, labelling it as chemotherapeutic (a cancer therapy) for skeletal metastases, significantly improving the revenue potential for the drug.

The filing of an IND for a pivotal phase ll/lll clinical program to test the efficacy of QBM-001, a pro-drug for the treatment of young children with a rare autistic spectrum disorder that severely inhibits their ability to communicate.

Continued R&D (research and development) on the novel chemotherapeutic drug for liver cancer.

Completion of optimisation and pre-clinical testing of the first-in-class glaucoma drug Man-01 for the treatment of open angle glaucoma, a disease affecting more than 60,000,000 people around the world.

A BioMed said the offering was expected to close on or around February 1 this year, subject to satisfying customary closing conditions.

Each warrant will have an exercise price of US$3.20 and will expire after five years. The gross proceeds from the offering are expected to be around US$5.5 million.

Shares in Q BioMed added 1.55% in New York to US$3.93 each.

View full QBIO profile View Profile

Q BioMed Inc Timeline

Related Articles

June 06 2018
Ventripoint received key FDA approval to sell the device with the four-chamber heart analysis last month
scientist looking through microscope
April 11 2018
Kumaraguru Raja sees “multiple catalysts” in the year ahead which could put a rocket under the share price
July 30 2018
Life science generally is developing at an incredible speed, says Joe Anderson

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use