Filing Will Register Common Stock for Previously Issued Warrants
AUSTIN, Texas, Dec. 18, 2018 (GLOBE NEWSWIRE) -- Pain Therapeutics, Inc. (Nasdaq: PTIE) today announced the filing of a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC). This voluntary filing with the SEC is intended to register for resale common stock underlying previously issued warrants. The Company’s Form S-1 registration statement has been filed with the SEC but has not yet become effective.
“We are not selling any shares and we will not receive any proceeds from the resale of stock under this Form S-1”, said Eric Schoen, the Company’s Chief Financial Officer. “This filing is strictly in regards to a previously announced financing that we completed in August 2018.”
Form S-1 is a type of filing used by companies to register their securities with the SEC. Our Form S-1 contains basic business and financial information with respect to the registration for resale of up to 9,126,601 shares of our common stock, which would be issued upon exercise of warrants issued in a private placement completed in August 2018. There is no requirement for stockholders to exercise any warrants or to sell any shares. A copy of our Form S-1 filing, once available, can be viewed on the SEC's website at www.sec.gov or can be obtained upon written request to the Company at 7801 N Capital of Texas Highway, Suite 260, Austin, Texas, 78731, Attention: Investor Relations.
These shares may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these shares in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state.
About Pain Therapeutics, Inc.
Pain Therapeutics, Inc. is a clinical-stage biopharmaceutical company that develops novel drugs. The FDA has not yet established the safety or efficacy of any of our drug candidates. For more information, please visit www.paintrials.com.
For More Information Contact:
Chief Financial Officer
Pain Therapeutics, Inc.
Note Regarding Forward-Looking Statements: This press release contains forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995 (the "Act"). Pain Therapeutics disclaims any intent or obligation to update these forward-looking statements and claims the protection of the Safe Harbor for forward-looking statements contained in the Act. For further information regarding these and other risks related to our business, investors should consult our filings with the U.S. Securities and Exchange Commission.
Source: Pain Therapeutics, Inc.