Bio-Path Holdings Announces Closing of $4.0 Million Private Placement Priced At-the-Market Under Nasdaq Rules

Core Viewpoint - Bio-Path Holdings, Inc. has successfully closed a private placement, raising approximately $4.0 million through the issuance of shares and warrants, aimed at supporting its biotechnology initiatives in cancer treatment [1][2]. Group 1: Private Placement Details - The company issued a total of 1,809,955 shares of common stock and corresponding series A and series B warrants, with a purchase price of $2.21 per share [1]. - The series A warrants have an exercise price of $2.00 per share and are valid for five years, while the short-term series B warrants also have the same exercise price but expire in twenty-four months [1]. - H.C. Wainwright & Co. served as the exclusive placement agent for this offering [2]. Group 2: Use of Proceeds - The net proceeds from the offering are intended for working capital and general corporate purposes [2]. Group 3: Company Overview - Bio-Path is focused on developing its proprietary DNAbilize® technology, which facilitates the creation of targeted nucleic acid cancer drugs [5]. - The lead product candidate, prexigebersen (BP1001), is currently in a Phase 2 study for blood cancers, while BP1001-A is in a Phase 1/1b study for solid tumors [5]. - The company is also advancing BP1002, targeting the Bcl-2 protein for blood cancers and solid tumors, and plans to file an IND application for BP1003, a novel STAT3 antisense oligodeoxynucleotide [5].