Capricor Therapeutics Closes $100M Public Offering

TL;DR

Capricor just raised $100M from a stock offering, closing on Oct 16, 2024.

AI Summary

On October 16, 2024, Capricor Therapeutics, Inc. announced the closing of its previously announced underwritten public offering. The company successfully raised approximately $100 million in gross proceeds before deducting underwriting discounts and commissions and other offering expenses. This offering involved the sale of 10,000,000 shares of common stock at a price of $10.00 per share.

Why It Matters

The successful completion of this offering provides Capricor Therapeutics with significant capital, which can be used to advance its clinical pipeline and operations.

Risk Assessment

Risk Level: medium — Public offerings can dilute existing shareholders and the success of the company depends on the effective use of the raised capital.

Key Numbers

• $100.0M — Gross Proceeds (Raised from the public offering before expenses.)
• 10,000,000 — Shares Sold (Number of common stock shares sold in the offering.)
• $10.00 — Price Per Share (The price at which shares were offered and sold.)

Key Players & Entities

• Capricor Therapeutics, Inc. (company) — Registrant
• October 16, 2024 (date) — Closing date of the public offering
• $100 million (dollar_amount) — Gross proceeds from the public offering
• 10,000,000 shares (share_amount) — Number of shares sold in the offering
• $10.00 (dollar_amount) — Price per share in the offering

FAQ

Key Financial Figures

• $0.001 — h Registered Common Stock, par value $0.001 per share CAPR The Nasdaq Capital M
• $5 — .001 per share, at a price per Share of $5.36, which was issued at a 20% premium t
• $15.0 million — gregate purchase price of approximately $15.0 million. At-the-Market Program Sales From Ju
• $9.84 — e-market program at an average price of $9.84 per share, resulting in gross proceeds
• $53.9 m — ting in gross proceeds of approximately $53.9 million, which represents all amounts tha
• $85.0 million — any estimates that it had approximately $85.0 million in cash and cash equivalents and short-

Filing Documents

• capr-20241016x8k.htm (8-K) — 45KB
• 0001558370-24-013344.txt ( ) — 162KB
• capr-20241016.xsd (EX-101.SCH) — 3KB
• capr-20241016_lab.xml (EX-101.LAB) — 15KB
• capr-20241016_pre.xml (EX-101.PRE) — 9KB
• capr-20241016x8k_htm.xml (XML) — 5KB

02

Item 2.02 Results of Operations and Financial Condition. The information set below under "Recent Developments – Preliminary balance of cash, cash equivalents and short-term investments" in Item 8.01 is incorporated by reference herein.

01

Item 8.01 Other Events. Recent Developments Deramiocel for the treatment of Duchenne muscular dystrophy (DMD) Following recent meetings with the U.S. Food and Drug Administration ("FDA"), Capricor Therapeutics, Inc. ("Capricor" or the "Company") announced its intent to file a Biologics License Application ("BLA") based on existing cardiac and natural history data for deramiocel to treat all patients diagnosed with Duchenne muscular dystrophy ("DMD") cardiomyopathy. Capricor commenced the filing of a BLA in October of 2024 seeking full approval of deramiocel for the treatment of DMD-cardiomyopathy with full submission expected by year-end 2024. The BLA filing will be based on existing cardiac data from the Phase 2 HOPE-2 and HOPE-2 Open Label Extension ("OLE") trials compared to natural history data provided by Vanderbilt University Medical Center and Cincinnati Children's Hospital Medical Center. In order to support potential label expansion to treat DMD skeletal muscle myopathy, Capricor plans to combine Cohorts A and B of the Phase 3 HOPE-3 clinical trial to serve as a post-approval study and does not intend to unblind Cohort A at this time, which was expected to occur in the fourth quarter of 2024. StealthXExosome Platform The Company's proprietary StealthX exosome-based multivalent vaccine (StealthX vaccine) for the prevention of SARS-CoV-2 was selected to be part of Project NextGen, an initiative by the U.S. Department of Health and Human Services to advance a pipeline of new, innovative vaccines. Under the terms of the collaboration, Capricor will supply the investigational product and NIAID's Division of Microbiology and Infectious Diseases will conduct the trial. Currently, our vaccine candidate is in the manufacturing phase with plans to deliver it to NIAID by the end of 2024. Private Placement to Nippon Shinyaku On September 16, 2024, the Company entered into a subscription agreement with Nippon Shinyaku pursuant to which on September 16,

Forward-Looking Statements

Forward-Looking Statements This Current Report contains forward-looking statements, including within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this Current Report that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the filing of a BLA for deramiocel, the design and conduct of our clinical trials, and the delivery of StealthX vaccine to NIAID. These forward-looking statements are based on our current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Our actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including the factors referred to in the "Risk Factors" sections of our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and our Quarterly Reports on Form 10-Q for the periods ended March 31, 2024 and June 30, 2024. If one or more of these factors materialize, or if any underlying assumptions prove incorrect, our actual results, performance or achievements may vary materially from any future results, performance or achievements expressed or implied by these forward-looking statements. You should consider these factors as being applicable to all related forward-looking statements wherever they appear in this Current Report. While we may elect to update forward-looking statements, we do not assume, and specifically disclaim, any obligation to do so, whether as a result of new information, future events or otherwise, except as required by law. 3

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. CAPRICOR THERAPEUTICS, INC. Date: October 16, 2024 By: /s/ Linda Marbn, Ph.D. Linda Marbn, Ph.D. Chief Executive Officer 4

View Full Filing

View this 8-K filing on SEC EDGAR