NEW YORK--(BUSINESS WIRE)--
Retrophin, Inc. (OTCQB:RTRX) today announced that it has commenced an
offering to sell $40,000,000 of shares of its common stock in a proposed
underwritten public offering. The offering is subject to market and
other conditions, and there can be no assurance as to whether or when
the offering may be completed, or as to the actual size or terms of the
offering.
Retrophin expects to use the net proceeds of the offering to obtain
regulatory approval for the reintroduction of Syntocinon into the US
market for aiding milk letdown, to initiate clinical trials of
Retrophin's product candidates, including Syntocinon for the treatment
of Schizophrenia and Autism Spectrum Disorders, RE-034 for the treatment
of Infantile Spasms and Nephrotic Syndrome, RE-024 for the treatment of
Pantothenate Kinase Associated Neurodegeneration, and sparsentan for the
treatment of Focal Segmental Glomerulosclerosis. Any remaining net
proceeds will be used for the further advancement of Retrophin's early
stage development programs, for further product development and for
general corporate purposes.
Jefferies LLC is acting as sole book-running manager for the offering.
Roth Capital Partners, Ladenburg Thalmann & Co. Inc. and Summer Street
Research Partners are acting as co-managers.
A registration statement, as amended, relating to these securities has
been filed with the Securities and Exchange Commission (the "SEC") but
has not yet become effective. These securities may not be sold nor may
offers to buy be accepted prior to the time that the registration
statement becomes effective. 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 registration or qualification under the securities
laws of any such state or jurisdiction. A copy of the registration
statement, as amended, can be accessed through the SEC's website at www.sec.gov.
Copies of the preliminary prospectus may be obtained by sending a
request to: Jefferies LLC, Attention: Equity Syndicate Prospectus
Department, 520 Madison Avenue, 12th Floor, New York, NY, 10022, by
telephone at 877-547-6340 or by email at Prospectus_Department@Jefferies.com.
About Retrophin
Retrophin is a pharmaceutical company focused on the development,
acquisition and commercialization of drugs for the treatment of serious,
catastrophic or rare diseases for which there are currently no viable
options for patients. The Company's pipeline includes compounds for
several catastrophic diseases, including Focal Segmental
Glomerulosclerosis (FSGS), Pantothenate Kinase-Associated
Neurodegeneration (PKAN), Duchenne Muscular Dystrophy and others.
Forward-Looking Statements
This press release contains "forward-looking statements" as that term is
defined in the Private Securities Litigation Reform Act of 1995,
regarding the research, development and commercialization of
pharmaceutical products. Without limiting the foregoing, these
statements are often identified by the words "may", "might", "believes",
"thinks", "anticipates", "plans", "expects", "intends" or similar
expressions. In addition, expressions of our strategies, intentions or
plans are also forward-looking statements. Such forward-looking
statements are based on current expectations and involve inherent risks
and uncertainties, including factors that could delay, divert or change
any of them, and could cause actual outcomes and results to differ
materially from current expectations. No forward-looking statement can
be guaranteed. Forward-looking statements in the press release should be
evaluated together with the many uncertainties that affect the Company's
business. You are cautioned not to place undue reliance on these
forward-looking statements as there are important factors that could
cause actual results to differ materially from those in forward-looking
statements, many of which are beyond our control. The Company undertakes
no obligation to publicly update any forward-looking statement, whether
as a result of new information, future events, or otherwise. Investors
are referred to the full discussion of risks and uncertainties as
included in the Company's filings with the Securities and Exchange
Commission.
Retrophin, Inc.
Marc Panoff, 646-564-3671
CFO
marc@retrophin.com
Source: Retrophin, Inc.
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