Dipexium Pharmaceuticals, Inc. just came out with a new prospectus, available here. This is an SEC requirement for firms looking to issue certain types of securities. An excerpt of the prospectus is provided below:
We estimate that the net proceeds from our issuance and sale of 2,646,091 shares of our common stock in this offering will be approximately $16.8 million after deducting placement agent fees and estimated offering expenses payable by us.
We currently estimate that we will use the net proceeds from this offering, together with our cash and cash equivalents, as follows:
This expected use of the net proceeds from this offering and our existing cash and cash equivalents represents our intentions based upon our current plans and business conditions. The amounts and timing of our actual expenditures may vary significantly depending on numerous factors, including the progress of our development and commercialization efforts and the status of and results from clinical studies, as well as any collaborations that we may enter into with third parties and any unforeseen cash needs. As a result, our management will retain broad discretion over the allocation of the net proceeds from this offering. We have no current understandings, agreements or commitments for any material acquisitions or licenses of any products, businesses or technologies.
Pending our use of the net proceeds from this offering, we intend to invest the net proceeds in a variety of capital preservation investments, including short-term, investment grade, interest bearing instruments and U.S. government securities.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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Other recent filings from the company include the following:
General statement of acquisition of beneficial ownership - Nov. 20, 2017
Dipexium Pharmaceuticals, Inc. Just Filed Its Quarterly Report: Loss per share Basic... - Nov. 9, 2017
Departure of Directors or Certain - Oct. 27, 2017