Press Release: AIM ImmunoTech Completes and Closes ATM Facility; Current Capital Expected to Meet Needs for Current Clinical Trials
AIM ImmunoTech Completes and Closes ATM Facility; Current Capital Expected to Meet Needs for Current Clinical Trials
OCALA, Fla., Feb. 05, 2021 (GLOBE NEWSWIRE) -- AIM ImmunoTech Inc. (NYSE American: AIM) today announced that it has completed its At-The-Market (ATM) facility and closed the ATM's Equity Distribution Agreement (EDA). Management believes, based on the company's current financial condition, that it has adequate funds to meet its anticipated operational cash needs and fund current clinical trials over approximately the next twenty-four months.
"Our robust financial state should allow us to move forward on many important shots on goal, as we advance towards many of our previously stated important inflection points, without the need for a renewed EDA-based ATM facility. While we have an outstanding track record of initiating investigator-sponsored clinical trials based on governmental, non-governmental organization (NGO) or industry grants, we now hope to accelerate AIM-sponsored developmental programs in oncology, COVID, ME/CFS and Long COVID, by independently financing activities where situations demand swift action," states AIM CEO Thomas K. Equels. "I believe our clear progress to date in oncology, ME/CFS, COVID and Long COVID signals the shape of things to come in 2021. Our team at AIM will work hard to achieve material forward progress to accomplish our clearly stated objectives."
About AIM ImmunoTech Inc.
AIM ImmunoTech Inc. is an immuno-pharma company focused on the research and development of therapeutics to treat multiple types of cancers, immune disorders, and viral diseases, including COVID-19, the disease caused by the SARS-CoV-2 virus.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "PSLRA"). Words such as "may," "will," "expect," "plan," "anticipate" and similar expressions (as well as other words or expressions referencing future events or circumstances) are intended to identify forward-looking statements. Many of these forward-looking statements involve a number of risks and uncertainties. Among other things, for those statements, the Company claims the protection of safe harbor for forward-looking statements contained in the PSLRA. The Company's anticipated financial and operational needs are based upon assumptions including, but not limited to, positive results from current studies and that such results will not require additional unanticipated changes to such studies or additional studies. Should some or many of these unanticipated events occur, the Company could very well need additional funding. There is the potential for delays in clinical trial enrollment and reporting because of the COVID-19 medical emergency. We do not undertake to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof.
Crescendo Communications, LLC
AIM ImmunoTech Inc
(END) Dow Jones Newswires
February 05, 2021 06:50 ET (11:50 GMT)