BUSINESS: Financial Ohr Pharmaceutical Raises $14 Million in Offering of Common Stock and Warrants By Staff Wednesday, April 12, 2017 12:23 AM NEW YORK—Ohr Pharmaceutical Inc., (Nasdaq:OHRP) an ophthalmology company studying a potential new treatment for age-related macular degeneration, reported earlier this week that it closed a previously announced public offering of common stock and warrants, which generated gross proceeds to the company of roughly $14.2 million.Ohr sold slightly more than 20 million shares of common stock at a price to the public of 70 cents per share. Investors also received warrants to purchase up to an aggregate of 14.2 million shares with an exercise price of $1, the company reported. The warrants are immediately exercisable and have a term of five years.The gross proceeds to Ohr exclude any proceeds from the exercise of warrants. The transaction was led by existing investors and included the participation of management and the board of directors, the company reported. Ohr said it intends to use the proceeds for working capital and other general corporate purposes, including the completion and data readout of the ongoing clinical study investigating Squalamine in wet-AMD (The MAKO Study).Separately, Ohr announced that it plans to amend the ongoing Squalamine clinical trial to enable efficacy analyses by the end of calendar 2017 or early 2018. “The primary endpoint will be an assessment of visual acuity at nine months,” Ohr reported. “This strategic approach should provide efficacy data by year end or early next year with the goal of confirming the benefits seen in the prior Phase 2 IMPACT study.”