Bellerophon Therapeutics, Inc. (Nasdaq: BLPH) announced today that it has entered into an agreement with a life sciences-focused institutional investor to sell 718,474 shares of its common stock and 1,781,526 prefunded warrants at a price of $2.00 and $1.99 per unit respectively. The offering is expected to close on March 7, 2023 and is expected to generate approximately $5 million in gross proceeds before deducting estimated offering expenses. This agreement is a major step forward for Bellerophon as it seeks to develop treatments for cardiopulmonary diseases.
The Company is excited to announce a $5 million offering to support the completion of its REBUILD Phase 3 study and for general corporate purposes. This randomized, double-blind, placebo-controlled dose escalation and verification clinical trial is evaluating the safety and efficacy of pulsed inhaled nitric oxide (iNO) in patients at risk for pulmonary hypertension associated with pulmonary fibrosis on long-term oxygen therapy. With a total of 145 patients enrolled, the study is powered to obtain a p-value of 0.01 for the primary endpoint of a change in MVPA. The Company is looking forward to releasing topline data in mid-2023.
The SEC declared our shelf registration statement on Form S-3 effective on July 2, 2020, allowing us to offer our common stock and pre-funded warrants to the public. We filed the registration statement with the SEC on June 26, 2020, and a prospectus supplement related to the shares will be filed in the near future.
Before investing in this offering, interested parties should take the time to read the entire prospectus supplement, the accompanying prospectus, and any other documents that are referenced therein. Doing so will provide more comprehensive information about Bellerophon and the offering. Don’t miss the opportunity to make an informed decision about your investment!
Bellerophon Therapeutics is revolutionizing the cardiopulmonary treatment landscape with its groundbreaking INOpulse® program. This innovative, clinical-stage biotherapeutics company is developing multiple, cutting-edge product candidates that will enhance the treatment of disease and address unmet medical needs. INOpulse® is a proprietary pulsatile nitric oxide delivery system that has the potential to make a lasting impact on the medical community.