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HSTO - Histogen Inc News Story

$0.793 -0.0  -2.1%

Last Trade - 24/09/21

Micro Cap
Market Cap £24.2m
Enterprise Value £6.56m
Revenue £1.03m
Position in Universe 6262nd / 7172

Histogen Announces Closing of $6.5 Million Registered Direct Offering Priced At-the-Market under Nasdaq Rules

Wed 9th June, 2021 9:01pm
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SAN DIEGO, June 09, 2021 (GLOBE NEWSWIRE) -- Histogen Inc. (Nasdaq: HSTO), a
clinical-stage therapeutics company focused on developing potential
first-in-class restorative therapeutics that ignite the body’s natural
process to repair and maintain healthy biological function, today announced
the closing of its previously announced registered direct offering for the
issuance and sale of 5,977,300 shares of its common stock, at a purchase price
of $1.10 per share, in a registered direct offering
priced at-the-market under Nasdaq rules. Histogen has also issued to the
investors, in a concurrent private placement, unregistered warrants to
purchase up to an aggregate of 4,781,840 shares of its common stock. The
offering was priced at-the-market under Nasdaq rules.

H.C. Wainwright & Co. acted as the exclusive placement agent for the

The warrants have an exercise price of $1.00 per share, are immediately
exercisable and will expire five and one-half years from the date of

The gross proceeds from this offering were approximately $6.5 million, before
deducting placement agent’s fees and other offering expenses. Histogen
intends to use the net proceeds from this offering for working capital and
general corporate purposes, including expenses related to the clinical
development of its pipeline programs, further research and development,
capital expenditures and general and administrative expenses.

The shares of common stock (but not the warrants or the shares of common stock
underlying the warrants) were offered by Histogen pursuant to a “shelf”
registration statement on Form S-3 (File No. 333-248074) previously filed
with the Securities and Exchange Commission (the “SEC”) on August 17,
2020 and declared effective by the SEC on August 26, 2020. The offering of
the shares of common stock only was made by means of a prospectus, including a
prospectus supplement, forming a part of the effective registration statement.
A final prospectus supplement and accompanying prospectus relating to the
shares of common stock was filed with the SEC and is available on the SEC’s
website at http://www.sec.gov. Electronic copies of the prospectus supplement
and the accompanying prospectus may also be obtained by contacting H.C.
Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by
phone at (212) 856-5711 or e-mail at placements@hcwco.com.

The warrants described above were offered in a private placement under
Section 4(a)(2) of the Securities Act of 1933, as amended (the “Act”),
and Regulation D promulgated thereunder and, along with the shares of common
stock underlying the warrants, have not been registered under the Act, or
applicable state securities laws. Accordingly, the warrants and underlying
shares of common stock may not be offered or sold in the United States except
pursuant to an effective registration statement or an applicable exemption
from the registration requirements of the Act and such applicable state
securities laws.

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 other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or other

About Histogen

Histogen Inc. is a clinical-stage therapeutics company focused on developing
potential first-in-class restorative therapeutics that ignite the body’s
natural process to repair and maintain healthy biological function.
Histogen’s innovative technology platform utilizes cell conditioned media
and extracellular matrix materials produced by hypoxia-induced multipotent
cells. Histogen’s proprietary, reproducible manufacturing process provides
targeted solutions across a broad range of therapeutic indications including
joint cartilage regeneration, spinal disk repair, hair growth and dermal
rejuvenation. For more information, please visit www.histogen.com.

Forward-Looking Information

This press release contains forward-looking statements within the meaning of
the “safe harbor” provisions of the Private Securities Litigation Reform
Act of 1995 and other Federal securities laws. For example, we are using
forward-looking statements when we discuss the use of proceeds, as well as
Histogen’s future operations and its ability to successfully initiate and
complete clinical trials, obtain clinical trial data and achieve regulatory
milestones and related timing, including those related to the suspension of
the HST 001 program, the commencement of the planned HST 003 Phase 1/2
clinical trial for regeneration of cartilage in the knee, the anticipated
filing of the HST 004 IND for spinal disc repair and the completion and
reporting of topline data for the Phase 1 study of emricasan for the treatment
of COVID-19; the nature, strategy and focus of Histogen’s business; the
sufficiency of Histogen’s cash resources and its ability to achieve value
for its stockholders, specifically given the strategic shift to orthopedic
indications; the sufficiency of Amerimmune’s cash resources and its
ability to complete the Phase 1 study of emricasan and achieve value for
Histogen’s stockholders; and the development and commercial potential and
potential benefits of any of Histogen’s product candidates, such as HST 003,
HST 004 and the Collaborative Development and Commercialization Agreement
with Amerimmune and any other collaboration agreements. Histogen may not
actually achieve the plans, carry out the intentions or meet the expectations
or projections disclosed in the forward-looking statements and you should not
place undue reliance on these forward-looking statements. Because such
statements deal with future events and are based on Histogen’s current
expectations, they are subject to various risks and uncertainties and actual
results, performance or achievements of Histogen that could differ materially
from those described in or implied by the statements in this press release,
including: market and other conditions, the uncertainties associated with the
clinical development and regulatory approval of Histogen’s product
candidates, including potential delays in the commencement, enrollment and
completion of clinical trials, such as the planned HST 003 Phase 1/2 clinical
trial for regeneration of cartilage in the knee, the anticipated filing of the
HST 004 IND for spinal disc repair and Amerimmune’s ability to further
develop emricasan for the treatment of COVID-19, including the complexity
and length of studies required to commercialize emricasan for COVID-19 and
potential delays in the completion of clinical trials, such as
the emricasan Phase 1 study for the treatment of COVID-19; Histogen’s
dependence on its collaboration partner, Amerimmune, to carry out the
development of emricasan and the potential for delays in the timing of
regulatory approval; competition in the orthopedics market, COVID-19 market
and other markets in which Histogen and its collaboration partner operate; the
potential that earlier clinical trials and studies of Histogen’s product
candidates may not be predictive of future results; risks related to business
interruptions, including the outbreak of COVID-19 coronavirus, which could
seriously harm Histogen’s financial condition and increase its costs and
expenses; and the requirement for additional capital to continue to advance
these product candidates, which may not be available on favorable terms or at
all. The foregoing review of important factors that could cause actual events
to differ from expectations should not be construed as exhaustive and should
be read in conjunction with statements that are included herein and elsewhere,
including those risks discussed in Histogen’s filings with the Securities
and Exchange Commission. Except as otherwise required by law, Histogen
disclaims any intention or obligation to update or revise any forward-looking
statements, which speak only as of the date hereof, whether as a result
of new information, future events, or circumstances or otherwise.


Susan A. Knudson
Executive Vice President & CFO
Histogen Inc.


GlobeNewswire, Inc. 2021
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