Press Releases

Cynapsus Therapeutics Inc. Announces Launch of Proposed Public Offering of Common Shares in the United States

June 9, 2022

Cynapsus Therapeutics Inc. announced today that it is offering to sell 4,500,000 common shares in an underwritten public offering pursuant to a registration statement filed with the U.S. Securities and Exchange Commission. In connection with this offering, Cynapsus expects to grant the underwriters a 30-day option to purchase up to an aggregate of 675,000 additional common shares. There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. The common shares are currently, and will continue to be, listed on the Toronto Stock Exchange under the symbol “CTH,” and an application has been made to list the common shares on the NASDAQ Capital Market under the symbol “CYNA.”

BofA Merrill Lynch is acting as sole book-running manager for the proposed offering, Nomura is acting as a lead manager and Noble Life Science Partners is acting as co-manager.

A registration statement relating to these securities has been filed with the Ontario Securities Commission and the U.S. Securities and Exchange Commission under the multijurisdictional disclosure system. The registration statement has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective. 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 offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering will be made outside of Canada only by means of a prospectus. When available, copies of the preliminary prospectus relating to the offering may be obtained by investors, other than Canadian investors, by contacting BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus Department, or via email, at [email protected] Any offering of the common shares in Canada will be made on a private placement basis in accordance with available prospectus exemptions.

About Cynapsus

Cynapsus is a specialty central nervous system pharmaceutical company developing and preparing to commercialize a Phase 3, fast-acting, easy-to-use, sublingual thin film for the on-demand turning ON of debilitating OFF episodes associated with Parkinson’s disease.

Forward-Looking Statements

This announcement contains "forward-looking statements" within the meaning of applicable securities laws, including with respect to the anticipated public offering, the size of the offering, the pricing of the offering and the listing of the common shares on NASDAQ Capital Market. These forward-looking statements include information about possible or assumed future results of our business, financial condition, results of operations, liquidity, plans and objectives. In some cases, you can identify forward-looking statements by terminology such as “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “expect,” “predict,” “potential,” or the negative of these terms or other similar expressions.

The statements we make regarding the following matters are forward-looking by their nature and are based on certain of the assumptions: our beliefs regarding the advantages of APL-130277 and assumptions that others will share such beliefs; our expectations regarding the commercialization of APL-130277, including effectiveness of targeted sales efforts and the education of members of our target market such as doctors, patients and payors and our assumption that such persons will prescribe or use our product once they understand the benefits; our belief that the opportunity for APL-130277 outside the United States for PD patients is substantial; our beliefs regarding the main competitors for APL-130277; our belief that there is an unmet medical need and market opportunity for APL-130277; our expectations regarding regulatory approval in the United States and in other jurisdictions, including the indications approved for our label for APL-130277, and timing thereof; our expectation that APL-130277 will be able to follow the regulatory pathway set forth in Section 505(b)(2) of the FDCA; our plan to timely commence and/or complete remaining trials and studies as required by the FDA and other regulators, including our Phase 3 clinical trials and studies; our belief that the current manufacturing capabilities of our partners are sufficient to support the remaining clinical trial needs and commercial launch of our product candidate; our beliefs regarding frequency, types and severity of OFF episodes; our assumption that two-thirds of patients that suffer OFF episodes suffer at least one OFF episode per day; our expectations that our U.S. and foreign patents will not expire early or prematurely; our ability to successfully protect our intellectual property; our expectations regarding future capital needs and funding requirements and our assumption relating to current and future costs; and our ability to otherwise successfully develop APL-130277 and any other product candidates we may develop in the future; as well as the factors identified in our public filings.

Furthermore, unless otherwise stated, the forward-looking statements contained in this press release are made as of the date of this press release, and we have no intention and undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. 

None of the TSX, the NASDAQ, or OTCQX International has approved or disapproved of the contents of this press release.

Contact Information

Cynapsus Therapeutics
Anthony Giovinazzo
President and CEO
(416) 703-2449 x225
[email protected]

Andrew Williams
(416) 703-2449 x253
[email protected]


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