Aquinox intends to use the net proceeds from the offering to fund additional clinical development of AQX-1125 and to fund pre-commercial and market assessment activities, research and development costs to advance its pipeline of preclinical product candidates and for working capital and other general corporate purposes.
The securities described above were offered by Aquinox pursuant to a registration statement previously filed with and declared effective by the Securities and Exchange Commission (SEC). A final prospectus supplement and accompanying prospectus relating to this offering has
been filed with the SEC and is available on the SEC's website at http://www.sec.gov/. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained from Leerink Partners LLC, Attention:
The offered shares of common stock are being qualified for distribution by way of a preliminary prospectus supplement and a final prospectus supplement to Aquinox's Canadian base shelf prospectus dated
This press release shall not constitute an offer to sell or a solicitation of an
offer to buy these securities nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The shares of common stock which are the subject of the offering contemplated by this press release are not being offered or sold, directly or indirectly, in
AQX-1125, Aquinox's lead drug candidate, is a small molecule activator of SHIP1, which is a regulating component of the PI3K cellular signalling pathway. By increasing SHIP1 activity, AQX-1125 accelerates a natural mechanism that has evolved to maintain homeostasis of the immune system and reduce immune cell activation and migration to sites of inflammation. AQX-1125 has demonstrated preliminary safety and favorable drug properties for once daily oral administration in multiple preclinical studies and seven completed clinical trials.
About Interstitial Cystitis/Bladder Pain Syndrome (IC/BPS)
IC/BPS is a chronic inflammatory bladder disease characterized by pelvic pain and increased urinary urgency and/or frequency. For many sufferers, these symptoms are severe and adversely affect all major aspects of their lives, including overall physical and emotional health, employment, social and intimate relationships, and leisure activities. While the cause of the disease remains largely unknown, erosion of the bladder lining is thought to be a significant contributor. IC/BPS is estimated to affect millions of people in
To the extent that statements contained in this press release are not descriptions of historical facts regarding Aquinox, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor of the Private Securities Litigation Reform Act of 1995,
including Aquinox's proposed offering and use of proceeds as well as statements including the words "expect", "intend" or "may." Such forward-looking statements involve substantial risks and uncertainties that could cause Aquinox's future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all and the uncertainties inherent in research and the clinical development process. Aquinox undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to
Aquinox's business in general, please refer to Aquinox's prospectus supplement filed with the
|Senior Manager, Investor Relations||Vice President|
News Provided by Acquire Media