Bio-Path announces $1.2M registered direct offering priced at-the-market

Bio-Path announced that it has entered into a definitive agreement with certain institutional investors for the issuance and sale of 375,000 shares of its common stock at a purchase price per share of $3.225 in a registered direct offering priced at-the-market under Nasdaq rules. Additionally, in a concurrent private placement, Bio-Path has also agreed to issue to such investors unregistered warrants to purchase up to 375,000 shares of common stock at an exercise price of $3.10 per share. The unregistered warrants to be issued in the private placement will become immediately exercisable upon issuance and will expire five years from the date of issuance. H.C. Wainwright is acting as the exclusive placement agent for the offering. Bio-Path currently intends to use the net proceeds from the offering for working capital and general corporate purposes.