BEDMINSTER, N.J.--(BUSINESS WIRE)--Tyme Technologies, Inc. (NASDAQ: TYME), an emerging biotechnology company developing cancer metabolism-based therapies, announced that today it closed its previously announced registered direct offering of 40,000,000 shares of its common stock, par value $0.0001 per share, at a purchase price of $2.50 per share, priced at-the-market under Nasdaq rules. The gross proceeds of the offering were $100 million, prior to deducting placement agent’s fees and other offering expenses payable by TYME.

H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.

TYME intends to use the net proceeds from the offering for the development of the company’s clinical and preclinical assets and for general corporate purposes, capital expenditures, working capital and general and administrative expenses. TYME may also use a portion of the net proceeds to acquire or invest in businesses, products and technologies that are complementary to its own, although it has no current plans, commitments or agreements with respect to any acquisitions as of the date of this communication.

About Tyme Technologies

Tyme Technologies, Inc. is an emerging biotechnology company developing cancer therapeutics that are intended to be broadly effective across tumor types and have low toxicity profiles. Unlike targeted therapies that attempt to regulate specific mutations within cancer, the company’s therapeutic approach is designed to take advantage of a cancer cell’s innate metabolic weaknesses to compromise its defenses, leading to cell death through oxidative stress and exposure to the body’s natural immune system. With the development of TYME-18 and TYME-19, the company believes that it is also emerging as a leader in the development of bile acids as potential therapies for cancer and viruses such as COVID-19.