On May 13, 2019 Trovagene, Inc. (Nasdaq: TROV), a clinical-stage oncology therapeutics company, using a precision medicine approach to develop drugs that target cell division (mitosis) for the treatment of leukemias, lymphomas and solid tumor cancers, reported that it has entered into a second definitive purchase agreement with Lincoln Park Capital Fund, LLC ("Lincoln Park") an existing institutional investor, in which Lincoln Park has agreed to purchase in a registered direct offering 196,104 shares of common stock for $3.275 per share and pre-funded warrants at a purchase price of $3.275 per pre-funded warrant, a premium to the closing sale price on May 10, 2019 on the Nasdaq Capital Market (Press release, Trovagene, MAY 13, 2019, View Source [SID1234536237]). In a concurrent private placement, Lincoln Park has agreed to purchase warrants to purchase 458,015 shares of common stock. The pre-funded warrants sold in the registered direct offering will be exercisable immediately following the date of issuance, will expire on the fifth anniversary of the initial exercise date and have an exercise price of $0.01 per share. The warrants sold in the concurrent private placement will be exercisable six months following the date of issuance, will expire on the five and a half anniversary of the initial exercise date and have an exercise price of $3.15 per share.

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Trovagene intends to use the net proceeds from the registered direct offering and concurrent private placement as working capital to continue advancing its onvansertib clinical development programs.

Trovagene believes that the net proceeds from this investment, along with the $1.5 million investment by Lincoln Park Capital in April, will contribute to funding of the Company’s operations and costs associated with its three active open-label trials – Acute Myeloid Leukemia (AML), metastatic Castration-Resistant Prostate Cancer (mCRPC) and metastatic Colorectal Cancer (mCRC).

"We are pleased to receive this additional investment from Lincoln Park," said Dr. Thomas Adams, Chief Executive Officer and Chairman of Trovagene. "Lincoln Park is a long-standing investor in the company and we appreciate their financial commitment, which is helping us to continue advancing the clinical development of our drug, onvansertib, and achieve our goal of bringing much-needed new treatment options to patients with various types of cancers."

Lincoln Park Capital, a long-only investor, has represented and warranted that with respect to securities of Trovagene they have not, and will not engage in any shorting or hedging activity prior to, or at any time after, the date hereof.

The common stock and pre-funded warrants described above are being offered pursuant to a shelf registration statement on Form S-3 (File No. 333-211705), previously filed with the Securities and Exchange Commission ("SEC") on May 27, 2016 and declared effective on June 13, 2016. Such shares of common stock and pre-funded warrants are being offered only by means of a prospectus supplement. A prospectus supplement and the accompanying prospectus relating to the registered direct offerings may be obtained, when available, on the SEC’s website at View Source or by contacting Trovagene, Inc.

The private placement warrants described above are being offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Act"), and Rule 506(b) of Regulation D promulgated thereunder and, along with the shares of common stock underlying the warrants, have not been registered under the Act or applicable state securities laws. Accordingly, the private placement warrants and underlying shares of common stock may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from registration requirements of the Act and such applicable state securities laws.

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 securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.