Hepion Pharmaceuticals Announces $9.0 Million Public Offering

Core Viewpoint - Hepion Pharmaceuticals, Inc. has announced a public offering of 27,692,310 shares of common stock, aiming to raise approximately $9.0 million for debt repayment and general corporate purposes, including working capital and operating expenses [1][3]. Group 1: Offering Details - The public offering includes each share of common stock or pre-funded warrant accompanied by series A and series B common warrants, both with an exercise price of$0.40 per share [1]. - The combined offering price for each share of common stock is $0.325, while the pre-funded warrant is priced at$0.3249 [1]. - The closing of the public offering is expected around January 23, 2025, pending customary closing conditions [1]. Group 2: Company Background - Hepion's primary asset, Rencofilstat, is a potent inhibitor of cyclophilins, which has shown efficacy in reducing liver fibrosis and hepatocellular carcinoma tumor burden in experimental models [5]. - Rencofilstat received Fast Track designation from the FDA for NASH treatment in November 2021 and Orphan Drug designation for HCC in June 2022 [5]. Group 3: Clinical Trial Update - In April 2024, Hepion announced the winding down of its ASCEND-NASH clinical trial, which was a Phase 2b study aimed at evaluating Rencofilstat's safety and efficacy [6]. - The trial had a target enrollment of 336 subjects, but enrollment was paused in April 2023 after 151 subjects were randomized [6]. - Approximately 80 subjects have completed their Day 365 visits, contributing to the safety and efficacy evaluation, with an additional 40 subjects expected to provide significant safety data [6].