Tyme Technologies Announces Offering of Common Stock

Tyme Technologies (NASDAQ:TYME) a clinical-stage biotechnology company developing cancer therapeutics, today announced that it had commenced an underwritten public offering of up to 12 million shares of its common stock, par value $0.0001 per share. The Company also intends to grant the underwriters a 30-day option to purchase up to an additional 1.8 million shares of common stock from the Company at the offering price, less underwriting discounts and commissions.

As quoted in the press release:

The Company intends to use the net proceeds from the offering for research and further development of its lead clinical program SM-88 and for general corporate purposes, including capital expenditures, working capital and general and administrative expenses. The Company 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 hereof.

Click here to read the full press release.