Sophiris Bio Secures up to $10 Million in Term Loans from Silicon Valley Bank
"We plan to utilize the proceeds from this loan to fund the manufacturing for Phase 3 clinical trial materials and expect that it will allow us to extend our cash runway to the middle of 2019 and provide additional financial flexibility as we advance topsalysin through clinical development," said
Sophiris may, at its discretion, borrow the remaining
Certain statements included in this press release may be considered forward-looking. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on Sophiris' current beliefs as well as assumptions made by and information currently available to Sophiris and relate to, among other things, anticipated financial performance, business prospects, strategies, regulatory developments, market acceptance, future commitments, cash runway, manufacturing plans and expectations and projected clinical development timelines, including expected rates of enrollment in clinical trials and expectations regarding the availability of data from clinical trials. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by Sophiris in its public securities filings; actual events may differ materially from current expectations. Sophiris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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