Pieris Pharmaceuticals Announces Public Offering of Common Stock

Pieris Pharmaceuticals (NASDAQ: PIRS), a clinical-stage biotechnology company advancing novel biotherapeutics through its proprietary Anticalin technology platform for cancer, respiratory and other diseases, announced today that it intends to offer and sell shares of its common stock in an underwritten public offering. Pieris intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the number of shares of common stock sold in the offering at the public offering price, less the underwriting discounts and commissions. All of the shares in the offering will be sold by Pieris.

As quoted in the press release:

Pieris intends to use the proceeds from this offering for working capital and general corporate purposes, which include advancing the development of Pieris’ drug candidates, including the advancement of PRS-343 through its Phase 1 dose-escalation trial, initiating PRS-343 expansion cohorts and combination studies, accelerating and expanding the Company’s pre-clinical pipeline in its key therapeutic areas of immuno-oncology and respiratory diseases, and expanding the Company’s discovery operations.

Click here to read the full press release.