Troutman Sanders Advises Ohr Pharmaceutical on Public Offering of Common Stock and Warrants
NEW YORK, December 14, 2016 – Troutman Sanders LLP today announced that it advised Ohr Pharmaceutical, Inc. (Nasdaq: OHRP), an ophthalmology research and development company, which just closed its public offering of common stock and warrants.
The Company issued an aggregate of 3,885,000 shares of its common stock at a public offering price of $2.00 per share. Investors also received series A warrants to purchase up to an aggregate of 1,942,500 shares of common stock with an exercise price of $2.75 per share and series B warrants to purchase up to an aggregate of 3,885,000 shares of common stock with an exercise price of $3.00 per share. Gross proceeds to the Company from the sale of the shares were approximately $7,770,000, excluding any proceeds from the exercise of warrants.
The Troutman Sanders team was led by Aurora Cassirer and Joseph Walsh, both partners in the firm’s life sciences practice group.
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About Ohr Pharmaceutical, Inc.
Ohr Pharmaceutical, Inc. (Nasdaq: OHRP) is an ophthalmology research and development company. The company's lead drug candidate, Squalamine lactate ophthalmic solution, 0.2% (also
known as OHR-102), is currently being evaluated in combination with anti-VEGF injections in a Phase 3 clinical program for the treatment of the wet form of age-related macular degeneration. In addition, Ohr has a sustained release
micro fabricated micro-particle ocular drug delivery platform with several preclinical drug product candidates in development for glaucoma, steroid-induced glaucoma, ocular allergies, and protein drug delivery. Additional information
about the company may be found at
www.ohrpharmaceutical.com.