NEW YORK, Sept. 29, 2016 (GLOBE NEWSWIRE) -- Actinium Pharmaceuticals, Inc. (NYSE MKT:ATNM), a biopharmaceutical Company developing innovative targeted payload immunotherapeutics for the treatment of advanced cancers, announced today the pricing of an underwritten public offering of 8,000,000 shares of its common stock at a price to the public of $1.25. In addition, Actinium has granted the underwriters a 30-day option to purchase up to an additional 1,200,000 shares of common stock solely to cover over-allotments, if any. The offering is expected to close on or about October 4, 2016, subject to customary closing conditions.
The gross proceeds to Actinium from this offering is expected to be $10,000,000, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Actinium. Actinium currently intends to use the net proceeds from the sale of securities for general corporate purposes, including capital expenditures, the advancement of its drug candidates in clinical trials, such as Iomab™-B and Actimab™- A, preclinical trials, and to meet working capital needs.
H.C. Wainwright & Co. is acting as sole book-running manager for the offering. JonesTrading Institutional Services LLC is acting as co-manager for the offering. ROTH Capital is acting as a financial advisor for the offering.
About Actinium Pharmaceuticals
Actinium Pharmaceuticals, Inc. (www.actiniumpharma.com) is a New York-based biopharmaceutical company developing innovative targeted payload immunotherapeutics for the treatment of advanced cancers. Actinium's targeted radioimmunotherapy products are based on its proprietary delivery platform for the therapeutic utilization of alpha-emitting Actinium-225 and Bismuth-213 and certain beta emitting radiopharmaceuticals in conjunction with monoclonal antibodies. The Company's lead radiopharmaceutical product candidate Iomab-B is designed to be used, upon approval, in preparing patients for hematopoietic stem cell transplant, commonly referred to as bone marrow transplant. The Company is conducting a single, pivotal, multicenter Phase 3 clinical study of Iomab-B in refractory or relapsed AML patients over the age of 55 with a primary endpoint of durable complete remission. The Company's second product candidate, Actimab-A, is in a 53 patient, multicenter, open-label Phase 2 trial for patients newly diagnosed with AML over the age of 60 in a single-arm multicenter trial.
