CohBar, Inc. Announces Expiration of Warrants and Reports Aggregate Proceeds from Warrant Exercises
MENLO PARK, Calif.--(BUSINESS WIRE)-- CohBar, Inc. (OTCQX: CWBR and TSXV: COB.U), a preclinical stage biotechnology company focused on developing mitochondria based therapeutics (MBTs) to treat age-related diseases, announced today that a total of approximately 2.7 million of the outstanding warrants to purchase CohBar’s common stock were exercised prior to their expiration at 5:00 p.m. EST on January 6, 2017. As a result of the warrant exercises, the Company received total gross proceeds of approximately $5.3 million and issued a total of 2,672,478 common shares.
CohBar issued a total of approximately 7.4 million common stock purchase warrants, with an exercise price of $2.00 per share, in conjunction with its initial public offering (IPO) on the TSX Venture Exchange and concurrent private placement completed in January 2015. As of January 11, 2017, there are 35,734,469 common shares issued and outstanding.
CohBar (OTCQX: CWBR and TSXV: COB.U) is a preclinical stage biotechnology company focused on the research and development of mitochondria based therapeutics (MBTs), an emerging class of drugs for the treatment of age-related diseases. MBTs originate from the discovery of a novel group of peptides within the mitochondrial genome, which regulate metabolism and cell death and whose biological activity declines with age. CohBar’s efforts focus on the development of mitochondrial-derived peptides (MDPs) into clinically relevant MBTs that offer the potential to address a broad range of age-related diseases, including obesity, fatty liver disease, Type-2 diabetes, cancer, cardiovascular and neurodegenerative disorders.
For additional company information, please visit www.cohbar.com.
Investor and Media Contact:
Anna Schram, 650-446-7888 Ext. 114
Source: CohBar, Inc.
Released January 11, 2017