TapImmune Announces Agreement To Facilitate Near Term Capital Infusion; Expediting Path Toward Phase II Trial Initiation
June 3, 2015
SEATTLE, June 2, 2015 /PRNewswire/ – TapImmune, Inc. (TPIV), a clinical stage cancer immunotherapy company, and its institutional investors have reached an agreement whereby the institutional investors will have the option to exercise their short term warrants to provide the Company up to $4.93M in near term funding, pending closing conditions and an effective S-1 registration statement. Under the restructured terms and subject to certain market conditions, the Company may also call additional warrants which could result in a larger influx of capital to fund the Company through its Phase 2 programs.
The Company recently announced positive Phase 1 clinical data from its Folate Receptor Alpha trial in triple negative breast and ovarian cancer. This trial demonstrated the experimental therapy was safe, well-tolerated and provided a robust immune response. Data from the Folate Receptor Alpha trial and the HER2Neu Phase 1 trial are very encouraging and a further data release from the Her2neu breast cancer Phase 1 trial is expected shortly. The infusion of capital from the exercise of the series B and C warrants will ensure the Company will complete the planned Phase 2 trial program.
Dr. Glynn Wilson stated “The financing we completed early this year was designed to provide capital as the Company progressed through a series of warrants. The restructuring of the warrants should provide the additional capital necessary to move the Company’s clinical programs into Phase 2.”
The Company and members of the Mayo clinical team attended: 2015 ASCO Annual Meeting, May 29 to June 2, in Chicago. Data from the Phase 1 trials was submitted and published in abstract form http://meetinglibrary.asco.org/content/148110-156. The team expects that the full schedule of meetings with key opinion leaders and industry executives will be extremely helpful in fine tuning the Phase 2 pathways for its leading candidates.
A conference call (http://services.choruscall.com/links/tpiv150603.html) is scheduled for Wednesday June 3rd at 11:00 AM EDT to present investors with an overall corporate update and further discuss the restructuring of the Company’s finances.
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End Date: Sep 4, 2015
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About TapImmune Inc.
TapImmune Inc. is an immunotherapy company specializing in the development of innovative technologies for the treatment of cancer, including metastasis, and infectious disease. The Company’s peptide or nucleic acid-based immunotherapeutics, comprise one or multiple naturally processed epitopes (NPEs) designed to comprehensively stimulate a patients’ killer T-cells, helper T-cells and to restore or further augment antigen presentation by using proprietary nucleic acid-based expression systems. The Company’s technologies may be used as stand-alone medications or in combination with current treatment modalities. Please visit the Company’s website at for details.
Forward-Looking Statement Disclaimer
This release contains forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this news release concerning the Company’s expectations, plans, business outlook or future performance, and any other statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters, are “forward-looking statements”. Forward-looking statements are by their nature subject to risks, uncertainties and other factors which could cause actual results to differ materially from those stored in such statements. Such risks, uncertainties and factors include, but are not limited to the risks set forth in the Company’s most recent Form 10-K, 10-Q and other SEC filings which are available through EDGAR at www.sec.gov. The Company assumes no obligation to update the forward-looking statements.
Glynn Wilson, Ph.D.
Chairman & CEO
Kirin M. Smith
Chief Operating Officer
Chief Communications Officer
J. Streicher Capital, LLC
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