ROCKVILLE -
The funds will be used for operations while awaiting completion of its phase 3 dry eye clinical trial (ARISE-3) in December and sponsored by its
The 5-year unregistered convertible notes carry a 5% simple interest rate that accrues during the term. The note is convertible into 1,391,982 shares of RGRX common stock at
'This limited financing demonstrates continued support from our affiliates, management and board of directors, among others, and provides RegeneRx with essential funding with minimal dilution to our stockholders while we await the results of ARISE-3. We look forward to reporting the results as soon as practicable after completion of the trial in December,' stated
The securities offered in the private placement have not been registered under the Securities Act, or any state securities law. Unless the shares, warrants and shares underlying the warrants are registered, they may not be offered or sold in
About
RegeneRx is focused on the development of novel therapeutic peptides, including Thymosin beta 4 (T4) and its constituent fragments, for tissue and organ protection, repair, and regeneration. RegeneRx currently has three drug candidates in clinical development for ophthalmic, cardiac/TBI and dermal indications, four active strategic licensing agreements in the
Forward-Looking Statements
Any statements in this press release that are not historical facts are forward-looking statements made under the provisions of the Private Securities Litigation Reform Act of 1995. Any forward-looking statements involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. Forward-looking statements in this press release include, but are not limited to, financial condition, use of proceeds from this financing, competitive products, status and outcomes of clinical trials, regulatory applications and approvals, the development and value of our drug candidates, and the use of our drug candidates to treat various conditions. All forward-looking statements are expectations and estimates based upon information obtained and calculated by the Company at this time and are subject to change. Moreover, there is no guarantee any clinical trial will be successful and confirm previous clinical results. Please view these and other risks described in the Company's filings with the
Contact:
Tel: 301.208.9191
Email: las@regenerx.com
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