Tyme Technologies Announces Closing of Public Offering of Common Stock

NEW YORK, March 08, 2018 -- Tyme Technologies, Inc. (NASDAQ:TYME) (“Tyme” or the “Company”) announced today that, on March 6, 2018, it closed its underwritten public offering of 9,000,000 shares of its common stock, par value $0.0001 per share, as well as the full underwriter option to purchase 1,350,000 additional shares, at a public offering price of $2.25 per share. The gross proceeds, including the exercise of the option to purchase additional shares, were approximately $23 million, before deducting underwriting discounts, commissions and other offering expenses payable by the Company. ‌

Tyme intends to use the net proceeds from the offering for research and further development of its lead clinical program, SM-88, and for general corporate purposes, including capital expenditures, working capital and general and administrative expenses.

“This transaction represents a significant milestone for Tyme and will allow us to accelerate SM-88’s clinical development.” said Steve Hoffman, Chief Executive Officer of Tyme.  “We expect that this capital will support the Company’s operations into the fourth quarter of 2019, beyond several expected clinical and preclinical SM-88 data readouts over the next 12 months.  Specifically, we intend to utilize this new capital to conduct additional animal model testing in order to further validate our technology platform, expand our team with additional drug development experts, complete the SM-88 Phase II prostate study and release interim results from the planned Phase II trial for SM-88 in pancreatic cancer.”

Evercore Group L.L.C. and Stifel served as joint book-running managers and as representatives of the underwriters for the offering. Canaccord Genuity Inc. also acted as bookrunner. H.C. Wainwright & Co. acted as a co-manager.

This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any security of the Company

About Tyme Technologies
Tyme Technologies, Inc. is a clinical-stage biotechnology company developing cancer therapeutics that are intended to be broadly effective across tumor types while having a low toxicity profile. Unlike targeted therapies that attempt to regulate specific mutations within cancer, the Company’s therapeutic approach is designed to take advantage of a cancer cell’s innate metabolic weaknesses to compromise its defenses, leading to cell death through oxidative stress and exposure to the body’s natural immune system. The Company’s lead clinical program, SM-88, is a novel combination therapy currently in Phase II development for prostate cancer, and the Company is preparing to initiate an additional Phase II clinical trial in pancreatic cancer.  

Forward-Looking Statements/Disclosure Notice
In addition to historical information, this press release contains forward-looking statements under the Private Securities Litigation Reform Act that involve substantial risks and uncertainties. Such forward-looking statements within this press release include, without limitation, statements regarding our drug candidates (including SM-88), their clinical potential and non-toxic safety profiles, our drug development plans and strategies, our completed studies, ongoing and planned clinical trials, preliminary data results and the therapeutic design and mechanisms of our drug candidates; and readers can identify forward-looking statements by sentences or passages involving the use of terms such “believes,” “expects,” “hopes,” “may,” “will,” “plan,” “intends,” “estimates,” “could,” “should,” “would,” “designed,” “continue,” “seeks,” or “anticipates,” and similar words (including their use in the negative) or by discussions of future matters such as the development of new products, technology enhancements, possible collaborations, the timing, scope and objectives of our planned clinical trials, funding plans and planned uses of proceeds, and other statements that are not historical. The forward-looking statements contained in this press release are based on management’s current expectations, which are subject to uncertainty, risks and changes in circumstances that are difficult to predict and many of which are outside of Tyme’s control. These statements involve known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements to be materially different from any historical results and future results, performances or achievements expressed or implied by the forward-looking statements. These risks and uncertainties include, but are not limited to, that the information is of a preliminary nature and may be subject to change; uncertainties inherent in research and development, including the ability to achieve clinical study start and completion dates; the possibility of unfavorable study results, including unfavorable new clinical data and additional analyses of existing data; risks associated with early, initial data, including the risk that the final Phase II data may differ from prior study data or preliminary Phase II data; final results of additional clinical trials that may be different from the preliminary data analysis and may not support further clinical development; that past reported data are not necessarily predictive of future patient or clinical data outcomes; whether and when any applications or other submissions for SM-88 may be filed with regulatory authorities; whether and when regulatory authorities may approve any applications or submissions; decisions by regulatory authorities regarding labeling and other matters that could affect commercial availability of SM-88; competitive developments; and the factors described in the section captioned “Risk Factors” of Tyme’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission on June 12, 2017, as well as subsequent reports we file from time to time with the U.S. Securities and Exchange Commission (available at www.sec.gov). The information contained in this press release is as of release date and the Company assumes no obligation to update forward-looking statements contained in this release as a result of future events or developments.

Contact
Tyme Technologies, Inc.
Jonathan Eckard
Chief Scientific Affairs Officer
[email protected]

LifeSci Advisors
Investors
Ashley Robinson
[email protected]
617-775-5956