FREMONT, Calif., Feb. 08 10, 2022 (GLOBE NEWSWIRE) — Zosano Pharma Corporation (Nasdaq: ZSAN), a clinical-stage biopharmaceutical company, today announced the pricing of its previously announced underwritten public offering of 51,250,000 units, each consisting of one common share and a warrant to purchase one common share, at a public offering price of $0.30 per unit. The warrants have an exercise price of $0.30 per share, are exercisable immediately and will expire five years from the date of issue. Zosano has granted the underwriter a 30-day option to purchase up to 7,687,500 additional common shares and/or additional warrants to purchase up to 7,687,500 common shares.

Maxim Group LLC is acting as sole bookrunner for the Offering.

Gross proceeds from the offering are expected to be approximately $15.4 million before deducting underwriting discounts and commissions and estimated offering costs and excluding the exercise of any warrants and the underwriter’s option. buy additional titles. This offering is expected to close on or about February 10, 2022, subject to customary closing conditions. Zosano intends to use the net proceeds from this offering for pre-market activities and for general working capital and corporate purposes.

A registration statement relating to these securities has been filed with the United States Securities and Exchange Commission (SEC) effective July 14, 2021. The offering is made by way of written prospectus only and of a prospectus supplement that will form part of the registration statement. A definitive prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Alternatively, when available, electronic copies of the final prospectus supplement and accompanying prospectus may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, New York 10022, at (212) 895-3745.

This press release does not constitute an offer to sell or a solicitation of an offer to buy, and there will be no sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. , prior to registration or qualification. under the securities laws of such state or territory.

About Zosano Pharma

Zosano Pharma Corporation is a clinical-stage biopharmaceutical company focused on developing products where the rapid delivery of approved molecules with established safety and efficacy profiles can bring substantial benefits to patients, in markets where patients remain underserved by existing therapies. The Company’s transdermal microneedle system technology consists of drug-coated titanium microneedles designed to enable rapid systemic delivery of therapeutics to patients. Zosano’s lead product candidate is M207, which is a proprietary formulation of zolmitriptan designed to be delivered via its transdermal microneedle system technology, as an acute treatment for migraine.

Forward-looking statements

To the extent that the statements in this press release are not descriptions of historical facts regarding Zosano, they are forward-looking statements reflecting management’s current beliefs and expectations made pursuant to safe harbor law. Private Securities Litigation Reform Act of 1995, including with respect to the offer, the expected closing date of the offer and the intended use of the proceeds of the offer. These forward-looking statements involve substantial risks and uncertainties that could cause Zosano’s future results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements. These risks and uncertainties include, among others, uncertainties relating to market conditions, whether the public offering will be completed on the terms anticipated or not at all, and the potential use of the proceeds thereof. Zosano assumes no obligation to update or revise any forward-looking statements. For a more detailed description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to Zosano’s business generally, please refer to Zosano’s Prospectus Supplement at file with the SEC, including the documents incorporated herein by reference, which include Zosano’s Annual Report on Form 10-K filed with the SEC on March 11, 2021 and Zosano’s other periodic reports filed with the SEC .

Zosano contact:

Christine Matthew
Financial director
510-745-1200

PR Zosano:

Sylvia Wheeler or Alexandra Santos
[email protected] Where [email protected]