WARREN, N.J., Jan. 23, 2019 (GLOBE NEWSWIRE) -- Bellerophon Therapeutics, Inc. (Nasdaq: BLPH), a clinical-stage biotherapeutics company, today announced the pricing of an underwritten public offering of 10,000,000 shares of its common stock at a public offering price of $0.70 per share, less underwriting discounts and commissions. The Company also granted the underwriter a 45-day option to purchase up to an additional 1,500,000 shares of its common stock at the public offering price per share, less underwriting discounts and commissions. Bellerophon expects to receive aggregate gross proceeds of $7 million from the offering, assuming no exercise of the underwriter’s option to purchase additional shares. The offering is expected to close on or about January 25, 2019, subject to customary closing conditions.

H.C. Wainwright & Co. is acting as the sole book-running manager for the offering.

Bellerophon intends to use the net proceeds from this offering to fund working capital and other general corporate purposes and pursuit of our other research and development efforts.

About Bellerophon Therapeutics, Inc.

Bellerophon Therapeutics is a clinical-stage biotherapeutics company focused on developing innovative therapies that address significant unmet medical needs in the treatment of cardiopulmonary diseases. The Company is currently developing multiple product candidates under its INOpulse program, a proprietary pulsatile nitric oxide delivery system. For more information, please visit www.bellerophon.com.