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CohBar, Inc. (NASDAQ: CWBR), a clinical stage biotechnology company developing mitochondria based therapeutics to treat chronic diseases, has closed an underwritten public offering of 12,300,000 units at a public offering price of $1.22 per unit. Each unit consisted of one share of common stock and one warrant to purchase 0.75 of a share of common stock at a per share exercise price of $1.44. Each warrant will be exercisable for five years from the closing date of the offering.
The gross proceeds from this offering were $15.0 million. In addition, CohBar has granted the underwriters a 30-day option to purchase up to an additional 1,845,000 shares of common stock and/or warrants to purchase up to an additional 1,383,750 shares of common stock. CohBar intends to use the proceeds from the offering, together with its existing cash resources, for general corporate purposes, which may include preclinical and clinical development of its peptides, working capital, operating expenses and capital expenditures.
Roth Capital Partners acted as sole book-running manager for the offering.
About CohBar, Inc.
CohBar (NASDAQ: CWBR) is a clinical stage biotechnology company focused on the research and development of mitochondria based therapeutics, an emerging class of drugs for the treatment of chronic and age-related diseases. Mitochondria based therapeutics originate from the discovery by CohBar’s founders of a novel group of naturally occurring peptide sequences within the mitochondrial genome, some of which have been shown to have the potential to regulate key processes in multiple systems and organs in the body. To date, the company has discovered more than 100 mitochondrial derived peptides and generated over 1,000 analogs. CohBar’s efforts focus on the development of these peptides into therapeutics that offer the potential to address a broad range of diseases because of the underlying impact of mitochondrial dysfunction. The company’s lead compound, CB4211, is in the Phase 1b stage of a Phase 1a/1b clinical trial for NASH and obesity. In addition, CohBar currently has four preclinical programs: CB5138 Analogs for fibrotic diseases, CB5064 Analogs for COVID-19 associated ARDS and type 2 diabetes, MBT5 Analogs for CXCR4-related cancer and orphan diseases, and MBT3 Analogs for cancer immunotherapy. For more information, please visit
(Source: Company Press Release | 08.26.20)
About Roth Capital Partners
Roth Capital Partners, LLC (ROTH), is a relationship-driven investment bank focused on serving emerging growth companies and
their investors. As a full-service investment bank, ROTH provides capital raising, M&A advisory, analytical research, trading,
market-making services and corporate access. Headquartered in Newport Beach, CA, ROTH is privately-held and employee owned, and
maintains offices throughout the U.S. For more information on ROTH, please visit
Date of Announcement: 09.01.20
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