As filed with the Securities and Exchange Commission on July 7, 2015
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORMS-3
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
ARCA BIOPHARMA, INC.
(Exact name of registrant as specified in its charter)
Delaware | 36-3855489 | |||
(State or other jurisdiction of incorporation or organization) | (
|
Identification Number) |
11080 CirclePoint Road, Suite 140
Westminster, COColorado 80020
720-940-2200(720)940-2200
(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)
Dr. Michael R. Bristow
President and Chief Executive Officer
ARCA biopharma, Inc.
11080 CirclePoint Road, Suite 140
Westminster, COColorado 80020
720-940-2200(720)940-2200
(Name, address, including zip code, and telephone number, including area code, of agent for service)
Copies to:
Brent D. Fassett
Cooley LLP
380 Interlocken Crescent, Suite 900
Broomfield, ColoradoCO 80021
(720)566-4000
Approximate date of commencement of proposed sale to the public: From time to time following the effectiveness ofafter this Registration Statement.Statement becomes effective.
If the only securities being registered on this formForm are being offered pursuant to dividend or interest reinvestment plans, please check the following box. ¨box: ☐
If any of the securities being registered on this formForm are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, other than securities offered only in connection with dividend or interest reinvestment plans, check the following box. xbox: ☒
If this formForm is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐
If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ¨☐
If this Form is a registration statement pursuant to General Instruction I.D. or a post-effective amendment thereto that shall become effective upon filing with the Commission pursuant to Rule 462(e) under the Securities Act, check the following box. ¨☐
If this Form is a post-effective amendment to a registration statement filed pursuant to General Instruction I.D. filed to register additional securities or additional classes of securities pursuant to Rule 413(b) under the Securities Act, check the following box. ¨☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, anon-accelerated filer, or a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” and “emerging growth company” in Rule 12b-212b2 of the Exchange Act.
Large accelerated filer | Accelerated filer | |||||
Non-accelerated filer | Smaller reporting company | |||||
Emerging Growth Company | ☐ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐
CALCULATION OF REGISTRATION FEE
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Title of Class of Securities to be Registered(1) | Number of Shares to be Registered (1)(2) | Proposed Maximum Offering Price Per Share(3) | Proposed Maximum Aggregate Offering Price (3) | Amount of Registration Fee | ||||
COMMON STOCK, par value $0.001 per share | 58,830,211 | $1.09 | $64,124,929.99 | $7,451.32 | ||||
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Title of Each Class of | Amount to be Registered(1) | Proposed Maximum Offering Price per Share(1) | Proposed Maximum Aggregate Offering Price(1)(2) | Amount of Registration Fee(3) | ||||
Securities to be Registered | ||||||||
Common Stock, par value $0.001 per share | ||||||||
Preferred Stock, par value $0.001 per share | ||||||||
Debt Securities | ||||||||
Warrants | ||||||||
Total | $75,000,000 | $8,692.50 (4) | ||||||
(1) |
(2) | The proposed maximum aggregate offering price per class of security will be determined from time to time by the registrant in connection with the issuance by the registrant of the securities registered hereunder and is not specified as |
(3) | Calculated pursuant to Rule 457(o) under the Securities Act. |
(4) | An aggregate of $9,631.49 of the amount of the registration fee was previously paid in connection with $74,778,655 of unissued securities registered under the Registrant’s registration statement on FormS-3 (FileNo. 333-195054) initially filed on April 4, 2014, or |
The registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further amendment that specifically states that this registration statement shall thereafter become effective in accordance with SectionTHE REGISTRANT HEREBY AMENDS THIS REGISTRATION STATEMENT ON SUCH DATE OR DATES AS MAY BE NECESSARY TO DELAY ITS EFFECTIVE DATE UNTIL THE REGISTRANT SHALL FILE A FURTHER AMENDMENT WHICH SPECIFICALLY STATES THAT THIS REGISTRATION STATEMENT SHALL THEREAFTER BECOME EFFECTIVE IN ACCORDANCE WITH SECTION 8(a) of the Securities Act ofOF THE SECURITIES ACT OF 1933 as amended, or until the registration statement shall become effective on such date as the Commission, acting pursuant to said SectionOR UNTIL THE REGISTRATION STATEMENT SHALL BECOME EFFECTIVE ON SUCH DATE AS THE SECURITIES AND EXCHANGE COMMISSION, ACTING PURSUANT TO SAID SECTION 8(a), may determine.MAY DETERMINE.
EXPLANATORY NOTE
This registration statement contains two prospectuses:
The informationbase prospectus immediately follows this explanatory note. The specific terms of any securities to be offered pursuant to the base prospectus will be specified in thisa prospectus supplement to the base prospectus. The sales agreement prospectus immediately follows the base prospectus. The common stock that may be offered, issued and sold under the sales agreement prospectus is not complete andincluded in the $75,000,000 of securities that may be changed. The selling stockholders may not selloffered, issued and sold under the securities under this prospectus until the registration statement filed with the Securities and Exchange Commission is effective. This prospectus is not an offer to sell these securities and it is not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.base prospectus.
THE INFORMATION IN THIS PROSPECTUS IS NOT COMPLETE AND MAY BE CHANGED. WE MAY NOT SELL THESE SECURITIES UNTIL THE REGISTRATION STATEMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION IS EFFECTIVE. THIS PROSPECTUS IS NOT AN OFFER TO SELL THESE SECURITIES AND IT IS NOT SOLICITING AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE THE OFFER OR SALE IS NOT PERMITTED.
SUBJECT TO COMPLETION, DATED JULY 7, 2015APRIL 25, 2017
PROSPECTUS
42,021,579 Shares of $75,000,000
Common Stock
16,808,632 Shares of CommonPreferred Stock Issuable Upon Exercise of the
Debt Securities
Warrants
This prospectus relates to the disposition fromFrom time to time, ofwe may offer and sell up to 58,830,211 shares$75,000,000 of ourany combination of the securities described in this prospectus, either individually or in combination with other securities. We may also offer common stock which includes 16,808,632 sharesor preferred stock upon conversion of ourdebt securities, common stock issuableupon conversion of preferred stock, or common stock, preferred stock or debt securities upon the exercise of warrants held bywarrants.
This prospectus provides a general description of securities we may offer. Each time we offer and sell securities, we will provide the selling stockholders namedspecific terms of these offerings and securities in one or more supplements to this prospectus. We may also authorize one or more free writing prospectuses to be provided to you in connection with these offerings. The prospectus supplement and any related free writing prospectus may also add, update or change information contained in this prospectus. The selling stockholders acquired the common stock and the warrants to purchase common stock from us in a private placement that closed in June 2015, and that is more fully described in the section entitled “Prospectus Summary.” We are not selling any common stock underYou should carefully read this prospectus, the applicable prospectus supplement and will not receiveany related free writing prospectus, as well as the documents incorporated by reference, before buying any of the proceeds from the sale of shares by the selling stockholders. We will, however, receive net proceeds of any warrants exercised for cash.
The selling stockholders may sell the shares of common stock described in this prospectus in a number of different ways and at varying prices. We provide more information about how the selling stockholders may sell their shares of common stock in the section entitled “Plan of Distribution” on page 10. The selling stockholders will bear all commissions and discounts, if any, attributable to the sale or disposition of the shares, or interests therein. We will bear all costs, expenses and fees in connection with the registration of the shares. We will not be paying any underwriting discounts or commissions in this offering.securities being offered.
Our common stock is listed on The NASDAQ Capital Market under the trading symbol “ABIO.” On July 6, 2015,April 24, 2017, the last reported sale price of our common stock was $2.50 per share. The applicable prospectus supplement will contain information, where applicable, as to other listings, if any, on The NASDAQ Capital Market was $1.11 per share.or other securities exchange of the securities covered by the applicable prospectus supplement.
AN INVESTMENTINVESTING IN OUR COMMON STOCKSECURITIES INVOLVES A HIGH DEGREE OF RISK. YOU SHOULD REVIEW CAREFULLY REVIEW THE RISKS AND UNCERTAINTIES REFERRED TODESCRIBED UNDER THE HEADING “RISK FACTORS” BEGINNING ON PAGE 5 OF THISCONTAINED IN THE APPLICABLE PROSPECTUS SUPPLEMENT AND IN ANY FREE WRITING PROSPECTUS WE HAVE AUTHORIZED FOR USE IN CONNECTION WITH A SPECIFIC OFFERING, AND UNDER ANY SIMILAR HEADINGS IN ANY AMENDMENT OR SUPPLEMENT TO THIS PROSPECTUS OR IN ANY FILING WITH THE SECURITIES AND EXCHANGE COMMISSIONDOCUMENTS THAT ISARE INCORPORATED BY REFERENCE HEREIN.INTO THIS PROSPECTUS AS DESCRIBED ON PAGE 33.
THIS PROSPECTUS MAY NOT BE USED TO CONSUMMATE A SALE OF SECURITIES UNLESS ACCOMPANIED BY A PROSPECTUS SUPPLEMENT.
The securities may be sold directly by us to investors, through agents designated from time to time or to or through underwriters or dealers, on a continuous or delayed basis. For additional information on the methods of sale, you should refer to the section entitled “Plan of Distribution” in this prospectus. If any agents or underwriters are involved in the sale of any securities with respect to which this prospectus is being delivered, the names of such agents or underwriters and any applicable fees, commissions, discounts and over-allotment options will be set forth in a prospectus supplement. The price to the public of such securities and the net proceeds we expect to receive from such sale will also be set forth in a prospectus supplement.
NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR PASSED UPON THE ACCURACYDETERMINED IF THIS PROSPECTUS IS TRUTHFUL OR ADEQUACY OF THIS PROSPECTUS.COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
The date of this Prospectusprospectus is , 2017.
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This prospectus is part of a registration statement on FormS-3 that we filed with the Securities and Exchange Commission, or SEC, utilizing a “shelf” registration process. Under this shelf registration process, we may offer and sell shares of our common stock and preferred stock, various series of debt securities and/or warrants to purchase any of such securities, either individually or in combination with other securities, in one or more offerings, up to a total dollar amount of $75,000,000. This prospectus provides you with a general description of the securities we may offer.
Each time we offer securities under this prospectus, we will provide a prospectus supplement that will contain more specific information about the terms of that offering. We may also authorize one or more free writing prospectuses to be provided to you that may contain material information relating to these offerings. The prospectus supplement and any related free writing prospectus that we may authorize to be provided to you may also add, update or change any of the information contained in this prospectus or in the documents that we have incorporated by reference into this prospectus. We urge you to read carefully this prospectus, together with any applicable prospectus supplement and any free writing prospectus we have authorized for use in connection with a specific offering, and the information incorporated herein by reference as described under the heading “Incorporation of Certain Information by Reference,” before buying any of the securities being offered.
This prospectus may not be used to consummate a sale of securities unless it is accompanied by a prospectus supplement.
You should rely only on the information contained in, or incorporated by reference ininto, this prospectus and any relatedapplicable prospectus supplement.supplement, along with the information contained in any free writing prospectus we have authorized for use in connection with a specific offering. We have not, and the selling stockholders have not authorized anyone to provide you with different or additional information. No one isWe are not making offersan offer to sell or seeking offersan offer to buy these securities under this prospectus or any applicable prospectus supplement and any related free writing prospectus in any jurisdiction where the offer or sale is not permitted. You should assume that the
The information containedappearing in this prospectus, and any applicable prospectus supplement or any related free writing prospectus, and the documents incorporated by reference herein and therein, is accurate only as of the date on the front of this prospectus or the prospectus supplement, as applicable,document and that any information we have incorporated by reference in this prospectus or any prospectus supplement is accurate only as of the date given in the document incorporated by reference,their respective dates, regardless of the time of delivery of this prospectus, any applicable prospectus supplement or any related free writing prospectus, or any sale of our common stock.a security. Our business, financial condition, results of operations and prospects may have changed since that date.those dates.
This prospectus contains summaries of certain provisions contained in some of the documents described herein, but reference is made to the actual documents for complete information. All of the summaries are qualified in their entirety by the actual documents. Copies of some of the documents referred to herein have been filed, will be filed or will be incorporated by reference as exhibits to the registration statement of which this prospectus is a part, and you may obtain copies of those documents as described below under the section entitled “Where You Can Find More Information.”
This prospectus incorporates by reference, and any prospectus supplement or free writing prospectus may contain and incorporate by reference, industry, statistical and market data from our own internal estimates and research as well as from industry and general publications and research, surveys and studies conducted by third parties. Industry publications, studies and surveys generally state that they have been obtained from sources believed to be reliable, although they do not guarantee the accuracy or completeness of such information. While we believe that each of these studies and publications is reliable, we have not independently verified statistical, market and industry data from third-party sources. While we believe our internal company research is reliable and the information incorporated hereinmarket definitions are appropriate, neither such research nor these definitions have been verified by reference includes trademarks, service marks and trade names owned by us or others. All trademarks, service marks and trade names included or incorporated by reference into this prospectus or any applicable prospectus supplement are the property of their respective owners.independent source.
i1.
This summary highlights selected information contained elsewhere in this prospectus or incorporated by reference in this prospectus. This summaryprospectus, and does not contain all of the information that you need to consider in making your investment decision. You should consider beforecarefully read the entire prospectus, the applicable prospectus supplement and any related free writing prospectus, including the risks of investing in our common stock. You should read and consider carefully the more detailed information in this prospectus, including the factors describedsecurities discussed under the heading “Risk Factors” contained in this prospectus beginning on page 5, anythe applicable prospectus supplement and any related free writing prospectus, and under similar headings in the other documents that are incorporated by reference herein, before making an investment decision.into this prospectus. You should also carefully read the information incorporated by reference into this prospectus, including our financial statements, and the exhibits to the registration statement of which this prospectus is a part.
Unless we have indicated otherwise, or the context otherwise requires, references in this toThe terms “ARCA,” “the Company,” “we,” “us”“us,” “our” and “our”similar terms refer to ARCA biopharma, Inc.
Overview
We are a biopharmaceutical company principally focused onapplying a precision medicine approach to developing genetically-targeted therapies for cardiovascular diseases. Precision medicine refers to the tailoring of medical treatment to the individual characteristics of each patient through the ability to classify individuals into subpopulations that differ in their susceptibility to a particular disease, in the biology and/or prognosis of those diseases they may develop, or in their response to a specific treatment. Our lead product candidate, Gencaro™ (bucindolol hydrochloride), is aan investigational, pharmacologically unique beta-blocker and mild vasodilator that we are evaluating in a clinical trialdeveloping for the potential treatment of patients with atrial fibrillation, or AF, and chronic heart failure with reduced left ventricular ejection fraction, or HFrEF. HFrEF constitutes an estimated50-60% of the total heart failure with the remainder comprised of HF with preserved ejection fraction. We believe that Gencaro’s efficacy is enhanced in a specific genotype that is present in approximately fifty percent of the general population in the United States, and can be identified by a genetic test. We believe that with this genetic test, we may be able to predict individual patient response to Gencaro, potentially improving the efficacy of treatment for AF in HFrEF patients with this particular genotype. We believe that Gencaro, if approved, could potentially be a safer and more effective therapy for treating or preventing AF in patients with heart failureHFrEF and could be the first genetically-targeted AF treatment. We also believe that Gencaro may have market exclusivity based on patents and new chemical entity status, if approved in the United States, Europe or other markets.
We are conducting a Phase 2B/Phase 3 clinical superiority trial, known asGENETIC-AF, in which we are evaluating Gencaro for the treatment and prevention of AF in HFrEF patients. In our trial, HFrEF is defined as a left ventricular systolic dysfunction,ejection fraction, or HFREF. We have identified common genetic variationsLVEF, of less than 50%.GENETIC-AF compares Gencaro toTOPROL-XL (metoprolol succinate), a drug approved for treating HFrEF that is also prescribed, but not approved, for treating AF in receptorspatients with HFrEF. Enrollment inGENETIC-AF is limited to patients that possess the cardiovascular systemspecific genotype that we believe interact withenhances Gencaro’s pharmacology and may predict patient response to the drug.
We are testing this hypothesis in a Phase 2B/3 clinical trialpotential therapeutic effects. Our current development of Gencaro known as GENETIC-AF. We are pursuing this indication for Gencaro because data fromis, in part, based on a prior Phase 3 HF trialprospectively designed DNA substudy of Gencaroadrenergic receptor polymorphisms in 2,708 heart failure, or HF, patients, or the BEST trial, which suggested thata previous Phase 3 study of 2,708 HF patients. Based on data from the BEST trial, Gencaro may be successfulshowed potential evidence of enhanced efficacy in treating AF and in reducing or preventing AF.
mortality and hospitalizations in HF patients with this specific genotype. In April 2015, the U.S. Food and Drug Administration, or FDA, designated as a Fast Track development program the investigation of Gencaro™Gencaro for the prevention of atrial fibrillation/atrial flutterAF in a genetically targeted heart failure population (heart failure(HF patients with reduced left ventricular ejection fraction).
LVEF) as a Fast Track drug development designation was included in the FDA Modernization Act of 1997, or FDAMA, as a formal process to enhance interactions with the FDA during drug development. A drug development program with Fast Track designation is eligible for consideration for some or all of the following programs for expediting development and review: scheduled meetings to seek FDA input into development plans, priority review of the New Drug Application, or NDA, the option of submitting portions of an NDA for review prior to submission of the complete application and potential accelerated approval.program.
AF, the most common sustained cardiac arrhythmia, is a potentially serious disorder in which the normally regular and coordinated contraction pattern of the heart’s two small upper chambers, or the atria, becomes irregular, rapid and uncoordinated. The irregular contraction pattern associatedAF commonly occurs together with HFrEF, with AF causes bloodbeing both a cause and a result of HFrEF. By increasing heart rate and producing irregular cycle lengths, AF may contribute to pool in the atria, predisposingdisease processes that leads to the formationprogression of clots potentially resulting in stroke.HFrEF and worsening clinical outcomes.
AF is considered an epidemic cardiovascular disease.disease and a major public health burden. The estimated number of individuals with AF globally in 2010 was 33.5 million. According to the 20152017 American Heart Association report on HeartCardiovascular Disease, and Stroke Statistics, the estimated number of individuals with AFapproximately 5.2 million people in the United States had atrial fibrillation in 2015. Hospitalization rates for AF increased by 23% among U.S. adults from 2000 to 2010 and hospitalizations account for the majority of the economic cost burden associated with AF. In a global registry of AF patients, the rates of heart failure (of all types) ranged from 2.7 million33% in patients with paroxysmal (episodes lasting 7 days or less) to 6.1 million people.56% in patients with permanent AF.
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We believe there is a significant need for drug therapies that are safe and effective for HFrEF patients with AF, increasesas the risk of stroke and may also contribute to worsening heart failure. The approvedexisting drug therapies for the treatment or prevention AF have certain safety disadvantages in HFREFHFrEF patients, such as toxic or cardiovascular adverse effects, and mosteffects. Most of the approved drugs for AF are contra indicated or have warnings in their prescribing information for such patients. WeConsequently, in the treatment and prevention of AF in HFrEF patients, we believe there is an unmet medical need for new AF treatments that have fewer side effects than currently available therapies and are more effective particularly in HFREF patients.
GENETIC-AF is a Phase 2B/3 multi-center, randomized, double-blind clinical trial comparing the safety and efficacy of Gencaro to an active comparator, the beta-blocker Toprol XL (metoprolol succinate), in HFREF patients with a current or recent history of paroxysmal (AF episodes lasting 7 days or less) or persistent AF who have a beta-1 389 arginine homozygous genotype, the genotype we believe responds most favorably to Gencaro. The primary endpoint of GENETIC-AF, time to recurrent symptomatic AF/atrial flutter, or AFL, or all-cause mortality, will be measured over a twenty-four week period after a patient has established a normal heart rhythm.than currently available therapies.
We believe that data from the BEST trial indicate that Gencaro may have a genetically regulated effect in reducing or preventing AF whereas we believe the therapeutic benefit of Toprol XL does not appear to be enhanced in patients with this genotype.HFrEF patients. A retrospective analysis of data from the BEST trial shows that the entire cohort ofall patients in the BEST trial treated with Gencaro had a 41% reduction in the risk of new onset AF(time-to-event) compared to placebo (p = 0.0004). In a substudy in the BEST DNA substudy,trial, which considered only patients with the genotype believed to enhance Gencaro’s efficacy (known as thebeta-1 389 arginine homozygous genotypegenotype), patients treated with Gencaro experienced a 74% (p = 0.0003) reduction in risk of AF, when receiving Gencaro, based on the same analysis. In addition, the BEST study, thebeta-1 389 arginine homozygous genotype Gencaro demonstrated enhanced efficacy in reducing mortality, hospitalizations, and ventricular tachycardia /ventricular fibrillation. Furthermore, patients with abeta-1 389 arginine homozygous genotype who entered the trial in AF had statistically significant reductions in major cardiovascular or HF mortality/hospitalization composite endpoints, which we believe is the first and thus far only demonstration of effectiveness of a beta-blocker in reducing major HF events in HFrEF patients with permanent AF. We believe that in HFrEF patients, the therapeutic efficacy ofTOPROL-XL is not enhanced in patients with abeta-1 389 arginine homozygous genotype, and we believe that Gencaro may be potentially unique in the beta-blocker class of drugs due to its apparent pharmacologic interaction with thisbeta-1 adrenergic receptor polymorphism. Thebeta-1 389 arginine homozygous genotype was present in about 47% of the patients in the BEST pharmacogenetic substudy, and we estimate it is present in about 50% of the U.S. general population.
We have createdGENETIC-AF is an adaptive, seamless design for GENETIC-AFPhase 2B/Phase 3, multi-center, randomized, double-blind, clinical superiority trial comparing the safety and are seekingefficacy of Gencaro against an active comparator, the beta-blockerTOPROL-XL (metoprolol succinate), that seeks to enroll a combined total of approximately 200 HFREF620 patients. Eligible patients in the Phase 2B portion of the study whowill have recently experienced at least one episodeHFrEF, a history of paroxysmal AF (episodes lasting 7 days or less) or persistent AF (episodes lasting more than 7 days and who haveless than 1 year) in the past 6 months, and thebeta-1 389 arginine homozygous genotype that we believe responds most favorably to Gencaro. In addition to measuring the primary endpointA subset of recurrent symptomatic AF/AFL or all-cause mortality, an additional efficacy measure in the Phase 2B portion of GENETIC-AF will be AF burden, defined as a patient’s percentage of time in AF per day, regardless of symptoms. At least 150 patients in the Phase 2B portion of the trial will have eitheralso undergo continuous heart rhythm monitoring to assess AF burden, which is defined as the amount of time per day that a patient experiences AF. These data will be collected via newly or previously implanted Medtronic, device that measures and recordsInc. devices capable of assessing AF burden.burden (for example, implantable loop recorders, pacemakers, cardioverter-defibrillators, or cardiac resynchronization therapy devices). The GENETIC-AF Data Safety Monitoring Board, or DSMB, will analyze certain data from the Phase 2B portionprimary endpoint of the trial and recommend, based on a comparisonstudy is time to our pre-trial statistical assumptions, whether the trial should proceed tofirst event of symptomatic AF/atrial flutter, or AFL, orall-cause mortality. The combined Phase 3 and seek to enroll an additional 420 patients. The DSMB will make their recommendation based on analysis of certain trial data after 200 patients have completed 24 weeks of follow-up, the period for measuring the primary end-point of the trial. The DSMB interim analysis will focus on available data regarding the primary end point, AF/AFL event rates, AF burden, and safety. Should the DSMB interim analysis conclude that the interim data is consistent with pre-trial statistical assumptions and indicates potential for achieving statistical significance for the 2B/Phase 3 endpoint, the DSMB may recommend that the study proceed to Phase 3. The DSMB may also recommend changes to the study design before the trial proceeds to Phase 3, or it may recommend that the study not proceed to Phase 3. Based on the DSMB recommendation, and other factors, including input from the trial’s Steering Committee, the Company will make the final determination on the trial’s development steps. The full Phase 2B/3 trial is designed for 90 percent power at ap-value of less than 0.01 significance level to detect a 25 percent reduction in the risk of AF recurrence or death inprimary endpoint for patients in the Gencaro arm compared to patients in the Toprol XLTOPROL-XL arm.
In consultation We received guidance from the FDA regarding theGENETIC-AF clinical trial prior to initiation of the trial. Based on this FDA guidance, we believe that a successfulGENETIC-AF Phase 3 clinical trial, with ap-value of less than or equal to 0.01 could be sufficient evidence of efficacy upon which to base a New Drug Application when submitted with the prior Phase 3 BEST trial data, for the approval of Gencaro for an AF indication in HFrEF patients. A second trial may be required if theGENETIC-AF trial results produce ap-value greater than 0.01. The trial is currently enrolling patients in the United States, Canada and Europe.
TheGENETIC-AF Data and Safety Monitoring Board, or DSMB, will perform apre-specified interim analysis of unblinded efficacy data when at least 150 patients have evaluable data. A randomized patient has evaluable data either when they experience their first composite endpoint event, AF/AFL orall-cause mortality, or after completion of the24-week primary endpointfollow-up period. The analysis will be conducted for detection of evidence of safety and superior efficacy of Gencaro versus the active comparator,TOPROL-XL.
The prospectively defined features of this analysis include an estimate of Gencaro effectiveness relative toTOPROL-XL and an assessment of safety as characterized by adverse events. The relative benefit estimate will utilize Bayesian statistical methods to calculate the predictive probability of the Phase 3 patient cohort hazard ratio
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based on the interim Phase 2B data. Prospectively defined ranges of predictive probabilities have been predetermined to define three potential outcomes based on the projection of the Phase 2B interim results:
1) | transition the trial to Phase 3 based on a likelihood of achieving a statistically significant hazard ratio in favor of Gencaro (evidence of an efficacy signal consistent with pretrial assumptions) and enroll up to a total of 620 patients (including the Phase 2B patients); |
2) | completion of the Phase 2B stage of the trial including24-weekfollow-up of all randomized subjects (approximately 250 patients), based on an intermediate result that is potentially favorable but does not support transition of the trial to Phase 3 or; |
3) | immediate termination of the trial due to futility. |
We, in collaboration with theGENETIC-AF Steering Committee, will determine the next steps for the trial based on the DSMB recommendation from this interim analysis and on our available capital. The unblinded statistical data available to the DSMB will not be disclosed to us or the public. We randomized our 175th patient in the trial in March 2017. We project that the outcome of the DSMB interim analysis and recommendation will be available in September of 2017. In February 2016, we implemented amendments toamended the trial protocol in March 2015 which we believe may expand the eligible target population, increase the patient screening and enrollment rate, and simplify trial procedures. We have undertaken these protocol amendments because patient enrollment in the trial has not met our original projections. Under the revised protocol,to allow for up to 250 patients in sinus rhythm who have experienced symptomatic AF in the past 120 days are now eligible for inclusion in the trial, as are patients with AF episodes lasting 7 days or less, or paroxysmal AF. Previously, these patients were not eligible to be enrolled in the trial. We believe this expanded target population has the potential to improve trial screening and enrollment rates and could broaden the potential commercial market for Gencaro, should it achieve regulatory approval in the future. The amendments to the protocol do not fundamentally alter or impact the original endpoints of the clinical trial. Based on the projected impact of the expanded patient population and the current enrollment rate, we now project that the enrollment of 200 patients for the Phase 2B portion of the trial, may be completed bywhich is intended to enable the end of 2016, withstudy to continue enrolling patients while the DSMB interim analysis finishingis underway. Should the DSMB recommend that the study continue to Phase 3, the trial would continue enrolling to a total of approximately 620 patients (i.e., up to 250 patients in Phase 2B and 370 patients in Phase 3), subject to our obtaining sufficient financing to fund the first halfPhase 3 portion of 2017.the trial.
In February 2016, theGENETIC-AF protocol was amended to simplify certain operational aspects of the trial. We believe these modifications facilitated site recruitment and enrollment in existing trial sites and additional sites in European countries, where we are expanding the study to support both the latter portion of Phase 2B, as well as the potential Phase 3 portion of the trial. We believe inclusion of European investigative sites will also support potential European regulatory submissions and partnering activity. We received no objections from the FDA and Health Canada on the protocol amendments prior to their implementation. As such, we believe that these changes do not yet know how these protocol changes willfundamentally alter or impact enrollment or if our new enrollment projections will prove to be accurate. We met with the FDA, prior to implementation, to confirm the acceptability of the amendments to the protocol and received no objections.previous regulatory agreements.
OurGENETIC-AF clinical trial of Gencaro requires a companion diagnostic test to identify the patient’s receptor genotype. We have an agreement with Laboratory Corporation of America, or LabCorp, to provide the companion diagnostic test and services to support ourGENETIC-AF trial. LabCorp has developed the genetic test and obtained an Investigational Device Exemption or IDE, from the United States Food and Drug Administration, or the FDA for the companion diagnostic test which is being used in ourGENETIC-AF clinical trial. We retain all rights to the genetic test.
Medtronic, Inc., or Medtronic, a leader in medical technologies to improve the treatment of chronic diseases, including cardiac rhythm disorders,global healthcare solutions company, is collaborating with us on theGENETIC-AF trial. Under the collaboration with Medtronic, ARCA is conducting a substudy that includes continuous monitoring of the cardiac rhythms in a subset of at least 150 patients enrolled during the Phase 2B portion oftrial, which is the trial.basis for a supportive endpoint in the trial known as AF burden. The collaboration is administered by a joint ARCA-Medtronic committee. Medtronic uses its proprietary CareLink System to collect and analyze the cardiac rhythm data from the implanted Medtronic devices and the data will be used by the DSMB as part of the interim analysis. Medtronic will support the reimbursement process for U.S. patients enrolled in the Phase 2B portion, and will provide financial support of unreimbursed costs for a certain number of U.S. patients in the Phase 2B portion up to a certain maximum amount per patient. IfGENETIC-AF proceeds continues to Phase 3, we will seekcontinue to enroll an additional 100 patients, with Medtronic devices for monitoring and recording AF burden, in the substudy. Medtronic will provide the agreed upon CareLink System cardiac rhythm data collection and analysis for the Phase 3 portion of the substudy and support the reimbursement process.
We have been granted patents in the United States, Europe, and other jurisdictions for methods of treating AF and HF patients with Gencaro based on genetic testing, which, if we are grantedtesting. We believe our patent term extension,portfolio and new chemical entity exclusivity may provide market exclusivity for these usesthe indications of Gencaro that we may develop, into approximately 2030 or 2031 in the United States, Europe and Europe.other markets.
To support the continued development of Gencaro, in June 2015, we completed a private placement that raised approximately $34$34.2 million of net proceeds as additional funds for the Phase 2B portion of theGENETIC-AF trial and to support our ongoing operations. We are seeking to enroll approximately 200 HFREFup to 250 HFrEF patients in the Phase 2B portion
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of theGENETIC-AF trial, and we anticipatebelieve that our current cash and cash equivalents will be sufficient to fund our operations, at our projected cost structure, through the end of 2017. However,In January 2017, we entered into a sales agreement with an agent to sell, from time to time, our common stock having an aggregate offering price of up to $7.3 million, in lightan “at the market offering.” We are not obligated to make any sales of our common stock, and, as of April 24, 2017, we have sold an aggregate of 85,068 shares of our common stock pursuant to the significant uncertainties regarding clinical development timelines and coststerms of such sales agreement for developing drugs such as
Gencaro, we may needaggregate gross proceeds of approximately $221,345, before paying commissions to raise a significant amountour placement agent of additional capital due toapproximately $6,000. However, changing circumstances that may cause us to consume capital significantly faster or slower than we currently anticipate. We have based these estimates on assumptions that may prove to be wrong, and we could exhaust our available financial resources sooner than we currently anticipate. If GENETIC-AF proceedswe continue to the Phase 3 portion ofGENETIC-AF, we will be required to raise additional funds prior to completion of the Phase 3 portion.funds.
CorporateCompany Information
On January 27, 2009, we completed a business combination, or the Merger, withbetween Nuvelo, Inc., or Nuvelo, a corporation originally incorporated in 1992, and its subsidiary, ARCA biopharma, Inc. Immediately following the Merger, we changed our name from Nuvelo, Inc. to ARCA biopharma, Inc. Our principal offices are located in Westminster, Colorado.
Our principal offices are located at 11080 CirclePoint Road, Suite 140, Westminster, Colorado and our80020. Our telephone number is (720)940-2200. Our websiteinternet address iswww.arcabiopharma.com. http://www.arcabio.com. We do not incorporate the information on our website into this prospectus, and you should not consider it part of this prospectus. For further information regarding us and our financial information, you should refer to our recent filings with the Securities and Exchange Commission, or the SEC. See “Where You Can Find More Information” and “Incorporation of Certain DocumentsInformation by Reference.”
Each of ARCA, ARCA biopharma, Gencaro and Gencaro Test is a registered trademark of ARCA biopharma, Inc. Each of the other trademarks, trade names or service marks appearing in this prospectus belongs to its respective holder.
THE OFFERING
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The selling stockholders named in this prospectusSecurities We May Offer
We may offer and sell up to 58,830,211 shares of our common stock and preferred stock, various series of debt securities and/or warrants to purchase any of such securities, either individually or in combination with other securities, with a total value of up to $75,000,000 from time to time under this prospectus, together with the applicable prospectus supplement and any related free writing prospectus, at prices and on terms to be determined by market conditions at the time of any offering. This prospectus provides you with a general description of the securities we may offer. Each time we offer a type or series of securities under this prospectus, we will provide a prospectus supplement that will describe the specific amounts, prices and other important terms of the securities, including, 16,808,632to the extent applicable:
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The applicable prospectus supplement and any related free writing prospectus that we may authorize to be provided to you may also add, update or change any of the information contained in this prospectus or in the documents we have incorporated by reference. However, no prospectus supplement or free writing prospectus will offer a security that is not registered and described in this prospectus at the time of the effectiveness of the registration statement of which this prospectus is a part.
THIS PROSPECTUS MAY NOT BE USED TO CONSUMMATE A SALE OF SECURITIES UNLESS IT IS
ACCOMPANIED BY A PROSPECTUS SUPPLEMENT.
We may sell the securities directly to investors or to or through agents, underwriters or dealers. We, and our agents or underwriters, reserve the right to accept or reject all or part of any proposed purchase of securities. If we do offer securities to or through agents or underwriters, we will include in the applicable prospectus supplement:
Common Stock.We may issue shares of our common stock issuable upon exercise of warrants. Throughout this prospectus, when we referfrom time to the sharetime. The holders of our common stock being registeredare entitled to one vote for each share held of record on behalfall matters submitted to a vote of stockholders. Under our Bylaws, our stockholders do not have cumulative voting rights. Because of this, the selling stockholders, we are referring toholders of a majority of the shares of common stock that have been issued pursuantentitled to vote in any election of directors can elect all of the securities purchase agreement in the private placement described below, ordirectors standing for election, if they should so choose. Subject to preferences that may be issuable uponapplicable to any outstanding shares of preferred stock, the exerciseholders of the warrants issued incommon stock are entitled to receive ratably such private placement. When we refer to the selling stockholders in this prospectus, we are referring to the investors in the private placement who are named in this prospectusdividends as the selling stockholders and, as applicable, any donees, pledgees, transfereesmay be declared by our board of directors out of legally available funds. Upon our liquidation, dissolution or other successors-in-interest selling shares received after the date of this prospectus from the selling stockholders as a gift, pledge or other non-sale transfer.
The Private Placement
On June 10, 2015, we entered into a securities purchase agreement with certain investors named in the table in the section entitled “Selling Stockholders,” pursuant to which we sold 42,021,579 units, with each unit consisting of one sharewinding up, holders of our common stock are entitled to share ratably in all assets remaining after payment of liabilities and a warrant to purchase 0.4the liquidation preferences of any outstanding shares of preferred stock. Holders of common stock have no preemptive rights and no right to convert their common stock into any other securities. There are no redemption provisions applicable to our common stock. The warrantsrights, preferences and privileges of the holders of common stock are subject to, and may be adversely affected by, the rights of the holders of shares of any series of preferred stock that we may designate in the future. In this prospectus, we have summarized certain general features of the common stock under “Description of Capital Stock—Common Stock.” We urge you, however, to read the applicable prospectus supplement (and any related free writing prospectus that we may authorize to be provided to you) related to any common stock being offered.
Preferred Stock.We may issue shares of our preferred stock from time to time, in one or more series. Under our certificate of incorporation, our board of directors has the authority to designate up to 5,000,000 shares of preferred stock, $0.001 par value per share, in one or more series and to fix the privileges, preferences and rights of each series of preferred stock, any or all of which may be greater than the rights of the common stock. If we sell any new series of preferred stock under this prospectus and any applicable prospectus supplement, our board of directors will determine the designations, voting powers, preferences and rights of the preferred stock being offered, as well as the qualifications, limitations or restrictions thereof, including dividend rights, conversion rights, preemptive rights, terms of redemption or repurchase, liquidation preferences, sinking fund terms and the number of shares constituting any series or the designation of any series. Preferred stock may be convertible into our common stock or other securities of ours, or may be exchangeable for debt securities. Conversion may be mandatory or at the holder’s option and would be at prescribed conversion rates. We will file as an exercise priceexhibit to the registration statement of $0.8716,which
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this prospectus is a part, or will become exercisable on December 13, 2015 and expire seven years after their date of issuance, unless earlier terminated. In connectionincorporate by reference from reports that we file with the closingSEC, the form of the private placement, on June 16, 2015,certificate of designation that describes the terms of the series of preferred stock that we agreedare offering before the issuance of the related series of preferred stock. In this prospectus, we have summarized certain general features of the preferred stock under “Description of Capital Stock—Preferred Stock.” We urge you, however, to fileread the applicable prospectus supplement (and any related free writing prospectus that we may authorize to be provided to you) related to the series of preferred stock being offered, as well as the complete certificate of designation that contains the terms of the applicable series of preferred stock.
Debt Securities.We may issue debt securities from time to time, in one or more series, as either senior or subordinated debt or as senior or subordinated convertible debt. The senior debt securities will rank equally with any other unsecured and unsubordinated debt. The subordinated debt securities will be subordinate and junior in right of payment, to the extent and in the manner described in the instrument governing the debt, to all of our senior indebtedness. Convertible debt securities will be convertible into or exchangeable for our common stock or our other securities. Conversion may be mandatory or at the holder’s option and would be at prescribed conversion rates.
The debt securities will be issued under an indenture that we will enter into with a national banking association or other eligible party, as trustee. In this prospectus, we have summarized certain general features of the debt securities under “Description of Debt Securities.” We urge you, however, to read the applicable prospectus supplement (and any related free writing prospectus that we may authorize to be provided to you) related to the series of debt securities being offered, as well as the complete indenture and any supplemental indentures that contain the terms of the debt securities. We have filed the form of indenture as an exhibit to the registration statement of which this prospectus is a part, and supplemental indentures and forms of debt securities containing the terms of the debt securities being offered will be filed as exhibits to the registration statement of which this prospectus is a part or will be incorporated by reference from reports that we file with the Securities Exchange Commission, SEC.
Warrants.We may issue warrants for the purchase of common stock, preferred stock and/or SEC, to register for resale the shares issueddebt securities in the private placement and the shares issuable upon exerciseone or more series. We may issue warrants independently or in combination with common stock, preferred stock and/or debt securities. In this prospectus, we have summarized certain general features of the warrants under “Description of Warrants.” We urge you, however, to read the applicable prospectus supplement (and any related free writing prospectus that we may authorize to be provided to you) related to the particular series of warrants being offered, as well as the form of warrant and/or the warrant agreement and warrant certificate, as applicable, that contain the terms of the warrants. We have filed the forms of the warrant agreements and forms of warrant certificates containing the terms of the warrants that we may offer as exhibits to the registration statement of which this prospectus is a part. We will file as exhibits to the registration statement of which this prospectus is a part, or will incorporate by reference from reports that we file with the SEC, the form of warrant and/or the warrant agreement and warrant certificate, as applicable, that contain the terms of the particular series of warrants we are offering, and any supplemental agreements, before the issuance of such warrants.
Warrants may be issued under a warrant agreement that we enter into with a warrant agent. We will indicate the name and address of the warrant agent, if any, in the private placement. We received gross proceedsapplicable prospectus supplement relating to a particular series of approximately $37.0 million before deduction of offering expenses.warrants.
The issuance of shares of common stock and warrants sold in this private placement was exempt from registration under the Securities Act of 1933, as amended, or the Securities Act, pursuant to the exemption for transactions by an issuer not involving a public offering under Section 4(a)(2) of the Securities Act and Regulation D promulgated under the Securities Act.
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An investment in our common stocksecurities involves a high degree of risk. Prior to makingBefore you make a decision about investingto invest in our common stock,securities, you should consider carefully the specific risk factors discussedrisks described in the sectionssection entitled “Risk Factors” contained in the applicable prospectus supplement and in our most recent Annual Report on Form10-K for the fiscal year ending December 31, 2014 and subsequent Quarterly Report on Form10-Q for the quarter ending March 31, 2015, each as filed with the SEC, and which are incorporated in this prospectus by reference in their entirety, as well as any amendment or updates to our risk factorsupdate thereto reflected in subsequent filings with the SEC includingor in any prospectus supplement hereto. TheseCurrent Report on Form8-K we may file. The risks and uncertaintiesdescribed in these documents are not the only ones we face, but those that we consider to be material. There may be other unknown or unpredictable economic, business, competitive, regulatory or other factors that could have material adverse effects on our future results. Past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results or trends in future periods. If any of these risks actually occur, our business, operating results, prospects or financial condition could be materially and uncertaintiesadversely affected. This could cause the trading price of our securities to decline and you may lose part or all of your investment. Moreover, the risks described are not the only ones that we face. Additional risks and uncertainties not presently known to us or that we currently view asdeem immaterial may also impair our business. If any of the risks or uncertainties described in our SEC filings or any additional risks and uncertainties actually occur,affect our business, operating results, prospects or financial condition, results of operations and cash flow could be materially and adversely affected. In that case, the trading price of our common stock could decline and you might lose all or part of your investment.condition.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
This prospectus, andany accompanying prospectus supplements, the documents incorporated by reference and any free writing prospectus that we have filedauthorized for use in connection with the SEC that are incorporated by reference in this prospectusoffering contain forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, or the “safe harbor” created by those sections. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words.Act. These are based on our management’s current beliefs, expectations and assumptions about future events, conditions and results and on information currently available to us. Discussions containing these forward-looking statements may be found, among other places, in “Business”the Sections entitled “Business,” “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” incorporated by reference from our most recent Annual Report on Form10-K for the fiscal year ending December 31, 2014 and our Quarterly Reports on Form10-Q, for the quarter ending March 31, 2015, as well as any amendments thereto, reflected in subsequent filingsfiled with the SEC.
Any statements in this prospectus, any accompanying prospectus supplements or incorporated herein, about our expectations, beliefs, plans, objectives, assumptions or future events or performance are not historical facts and are forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. While we believe that we have a reasonable basis for each forward-looking statement contained in this prospectus and any accompanying prospectus supplements, we caution you that these statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. As a result of these factors, we cannot assure you that the forward-looking statements in this prospectus, any accompanying prospectus supplements or documents incorporated by reference will prove to be accurate. Furthermore, if our forward-looking statements prove to be inaccurate, the inaccuracy may be material. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by us or any other person that we will achieve our objectives and plans in any specified time frame, or at all. You should not place undue reliance on these forward-looking statements, which apply only as of the date of this prospectus. You should read this prospectus, any accompanying prospectus supplement and the documents incorporated by reference completely and with the understanding that our actual future results may be materially different from what we expect.
Examples of theseThese forward-looking statements include, but are not limited to, statements regarding the following: regarding:
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In some cases, you can identify forward-looking statements by the words “may,” “might,” “can,” “will,” “to be,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “objective,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “likely,” “continue” and “ongoing,” or the negative of these terms, or other comparable terminology intended to identify statements about the future, although not all forward-looking statements contain these words. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. While we believe that we have a reasonable basis for each forward-looking statement
You should refer to the “Risk Factors” section, or under similar heading, contained in this prospectus, andaccompanying prospectus supplement, the SEC filings incorporate hereindocuments incorporated by reference and any related free writing prospectus for a discussion of important factors that may cause our actual results to differ materially from those expressed or implied by our forward-looking statements.
Except as required by law, we caution you that these statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain.
We undertakeassume no obligation to update these forward-looking statements publicly, updateor to revise any forward-looking statements whether as a resultto reflect events or developments occurring after the date of this prospectus, even if new information future events or otherwise. You are advised, however, to consult any further disclosures we make on related subjectsbecomes available in our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and our website.the future.
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We will not receive anyretain broad discretion over the use of the net proceeds from the sale of shares of our common stockthe securities offered by the selling stockholders pursuant to this prospectus. A portion of the shares covered by thisExcept as described in any applicable prospectus are issuable upon exercise of warrants to purchase our common stock. Upon exercise ofsupplement or in any of the warrantsfree writing prospectus we have authorized for cash, the applicable selling stockholder would pay us the exercise price set forthuse in the warrants. The cash exercise price of the warrants is $0.8716 per share. Weconnection with a specific offering, we currently intend to use the net proceeds generated by warrant cash exercises,from the sale of the securities under this prospectus, if any, for general corporate purposes, including clinical trials, research and development expenses and general and administrative expenses. We will set forth in the prospectus supplement applicable to fund the ongoing Phase 2B/3 triala specific offering our intended use for the preventionnet proceeds received from the sale of atrial fibrillation, working capitalany securities in that offering.
The amounts and general corporate purposes. We cannot estimate how many,timing of our use of the net proceeds from any offerings hereunder will depend on a number of factors, such as the timing and progress of our clinical trials and research and development efforts, the timing of regulatory approval of our product candidates, if any, the timing and progress of any partnering and collaboration efforts, technological advances and the competitive environment for our product candidates. As of the warrants will be exercised as a resultdate of this offering. Weprospectus, we cannot specify with certainty all of the particular uses for the net proceeds to us from offerings hereunder. Accordingly, our management will bear all costs, expenseshave broad discretion in the timing and fees in connection withapplication of these proceeds. Pending application of the registration of shares of our common stock to be sold by the selling stockholders. The selling stockholders will bear all legal fees, commissions and discounts, if any attributable to their respective sales of shares.
It is possible that the warrants may expire and may never be exercised. The warrants contain a net exercise provision therefore the warrant holder may elect to utilize this feature and in this case we would not receive any proceeds from their exercise. Pending their use as described above, we intend to temporarily invest the net proceeds in high quality, short-term, interest-bearing securities.instruments.
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SELLING STOCKHOLDERSDESCRIPTION OF SECURITIES TO BE REGISTERED
On June 16, 2015, we issuedDESCRIPTION OF CAPITAL STOCK
General
As of the date of this prospectus, our amended and restated certificate of incorporation, as amended, or the Restated Certificate, authorizes us to the selling stockholders named below an aggregate of 42,021,579issue 100,000,000 shares of common stock, par value $0.001 per share, and warrants to purchase an additional 16,808,6325,000,000 shares of preferred stock, $0.001 par value per share. As of December 31, 2016, 9,082,366 shares of common stock in a private placement. Thewere outstanding and no shares of preferred stock were outstanding.
The following summary description of our capital stock is based on the provisions of our Restated Certificate, our second amended and restated bylaws, or the Bylaws, and applicable provisions of the Delaware General Corporation Law. This information may not be complete in all respects and is qualified entirely by reference to the applicable provisions of our Restated Certificate, our Bylaws and the Delaware General Corporation Law. For information on how to obtain copies of our Restated Certificate and Bylaws, which are exhibits to the registration statement of which this prospectus is a part, see “Where You Can Find More Information.”
Common Stock
Voting Rights. Each holder of our common stock being offeredis entitled to one vote for each share on all matters submitted to a vote of the stockholders, including the election of directors; provided, however, holders of our common stock may not, unless otherwise required by law, vote on any amendment to our Restated Certificate that relates solely to the terms of one or more series of preferred stock that we may issue if the holders of such preferred stock are entitled to vote on such amendment. In all such matters other than the election of directors, the affirmative vote of the majority of shares present in person, by remote communication, or represented by proxy at a meeting of the stockholders and entitled to vote generally on the subject matter shall be the act of the stockholders. Directors shall be elected by a plurality of the votes of the shares present in person, by remote communication, or represented by proxy at a meeting of the stockholders and entitled to vote generally on the election of directors. Our stockholders do not have cumulative voting rights in the election of directors. Accordingly, holders of a majority of the voting shares are able to elect all of the directors to be elected at any particular time.
Dividends. Subject to preferences that may be applicable to any then outstanding preferred stock, holders of our common stock are entitled to receive dividends, if any, as may be declared from time to time by our board of directors out of legally available funds.
Liquidation. In the event of our liquidation, dissolution or winding up, holders of our common stock will be entitled to share ratably in the net assets legally available for distribution to stockholders after the payment of all of our debts and other liabilities and the satisfaction of any liquidation preference granted to the holders of any then outstanding shares of preferred stock.
Rights and Preferences. Holders of our common stock have no preemptive, conversion, subscription or other rights, and there are no redemption provisions applicable to our common stock. The rights, preferences and privileges of the holders of our common stock are subject to and may be adversely affected by the selling stockholders are those issued to the selling stockholders and those issuable to the selling stockholders upon exerciserights of the warrants. For additional information regardingholders of shares of any series of our preferred stock that we may designate in the future.
Preferred Stock
Pursuant to our Restated Certificate, our board of directors has the authority, without further action by our stockholders, to issue up to 5,000,000 shares of preferred stock, $0.001 par value per share, in one or more series, to establish from time to time the number of shares to be included in each such series, and to fix the designations, powers, preferences, privileges and relative participating, optional or special rights and the qualifications, limitations or restrictions thereof, including dividend rights, conversion rights, preemptive rights, voting rights, terms of
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redemption and repurchase, liquidation preferences and sinking fund terms, any or all of which may be greater than the rights of the common stock. Preferred stock may be convertible into our common stock or other securities of ours, or may be exchangeable for debt securities. Conversion may be mandatory or at the holder’s option and would be at prescribed conversion rates. Because our board of directors, without stockholder approval, can issue preferred stock with voting, conversion or other rights, preferred stock could be issued quickly with terms calculated to delay or prevent a change in control of our company or make removal of management more difficult. Additionally, the issuance of preferred stock may have the effect of decreasing the market price of the common stock and may adversely affect the voting power of holders of common stock and reduce the likelihood that common stockholders will receive dividend payments and payments upon liquidation.
The following is a summary of terms of our preferred stock. For a complete description, you should refer to the provisions of our Restated Certificate and Bylaws and the resolutions containing the terms of each class or series of the preferred stock which have been or will be filed with the SEC at or prior to the time of issuance of such class or series of preferred stock and described in any applicable prospectus supplement. Any applicable prospectus supplement may also state that any of the terms set forth herein are inapplicable to such series of preferred stock, provided that the information set forth in such prospectus supplement does not constitute material changes to the information herein such that it alters the nature of the offering or the securities offered.
Our board of directors will fix the rights, preferences, privileges, qualifications and restrictions of the preferred stock of each series that we sell under this prospectus and applicable prospectus supplements in the certificate of designation relating to that series. We will file as an exhibit to the registration statement of which this prospectus is a part, or will incorporate by reference from reports that we file with the SEC, the form of any certificate of designation that describes the terms of the series of preferred stock we are offering before the issuance of the related series of preferred stock. This description will include:
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When we issue shares of preferred stock under this prospectus, upon our receipt of the purchase price for such shares, the shares will be fully paid and nonassessable and will not have, or be subject to, any preemptive or similar rights. Unless we specify otherwise in the applicable prospectus supplement, the preferred stock will rank, with respect to dividends and upon our liquidation, dissolution or winding up:
The term “equity securities” does not include convertible debt securities.
The Delaware General Corporation Law provides that the holders of any class or series of preferred stock will have the right to vote separately as a class on any proposed amendment to the Restated Certificate that would alter or change the powers, preferences or special rights of the holders of such class or series of preferred stock so as to affect them adversely. This right is in addition to any voting rights that may be provided for in the applicable certificate of designation.
The issuance of preferred stock could adversely affect the voting power of holders of common stock and reduce the likelihood that common stockholders will receive dividend payments and payments upon liquidation. The issuance could have the effect of decreasing the market price of the common stock. The issuance of preferred stock also could have the effect of delaying, deterring or preventing a change in control of us.
Stock Options
As of December 31, 2016, there were 1,252,798 shares of common stock in order to permit the selling stockholders to offer thereserved for issuance under our equity incentive plans. Of this number, 629,629 shares were reserved for resale from time to time. The selling stockholders include entities affiliated with Venrock Healthcare Capital Partners, entities affiliated with New Enterprise Associates, funds managed by Franklin Advisers, Inc., entities affiliated with RA Capital Management, Tekla Life Sciences Investors, Capital Ventures International and entities affiliated with DAFNA LifeScience, L.P..
The table below, including the footnotes thereto, lists the selling stockholders and other information regarding the beneficial ownership (as determined under Section 13(d) of the Exchange Act of 1934 and the rules and regulations thereunder) of the shares of common stock held by each of the selling stockholders based in part on information provided to us by the selling stockholders. The second column lists the number of shares of common stock beneficially owned by the selling stockholders, based on their respective ownership of shares of common stock and warrants, as of June 30, 2015, assuming exercise of the warrants held by each such selling stockholder on that date without taking account of any limitations on exercise set forth therein.
The third column lists the shares of common stock being offered by this prospectus by the selling stockholders and does not take into account any limitations on exercise of the warrants set forth therein.
In accordance with the terms of a registration rights agreement with the holders of the common stock and the warrants, this prospectus generally covers the resale of the sum of (i) the shares of common stock issued to the selling stockholders and (ii) the maximum number of shares of common stock issuableissuance upon exercise of outstanding options and 30,739 shares were reserved for issuance upon the warrants determined as if thevesting of outstanding warrants were exercised in full (without regard to any limitations on exercise contained therein)restricted stock units as of the trading day immediately preceding the date this registration statement was initially filed with the SEC. Because the exercise priceDecember 31, 2016.
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Anti-Takeover Effects of the warrants may be adjusted, theProvisions of Delaware Law and Our Charter Documents
Certificate of Incorporation and Bylaws
Our Restated Certificate and Second Amended and Restated Bylaws, or Bylaws, include a number of sharesprovisions that will actually be issued may be moredeter or less thanimpede hostile takeovers or changes of control or management. These provisions include:
Issuance of Undesignated Preferred Stock. Under our Restated Certificate, our board of directors has the number of shares being offered by this prospectus.
The fourth column assumes the sale of all of the shares offeredauthority, without further action by the selling stockholders, pursuant to this prospectus. However, because the selling stockholders may sell all or someissue up to 5,000,000 shares of their shares under this prospectusundesignated preferred stock with rights and preferences, including voting rights, designated from time to time by the board of directors. The existence of authorized but unissued shares of preferred stock enables our board of directors to make it more difficult or to discourage an attempt to obtain control of us by means of a merger, tender offer, proxy contest or otherwise.
Classified Board. Our Restated Certificate provides for a classified board of directors consisting of three classes of directors, with staggered three-year terms. Only one class of directors will be elected at each annual meeting of our stockholders, with the other classes continuing for the remainder of their respective three-year terms. This provision may have the effect of delaying a change in another permitted manner, we cannot assure you ascontrol of the board.
Board of Directors Vacancies. Our Restated Certificate and Bylaws authorize only our board of directors to fill vacant directorships, unless our board of directors determines by resolution that the actualstockholders shall fill such vacant directorships. In addition, the number of sharesdirectors constituting our board of directors may be set only by resolution adopted by a majority vote of our entire board of directors. These provisions prevent a stockholder from increasing the size of our board of directors and gaining control of our board of directors by filling the resulting vacancies with its own nominees.
Stockholder Action; Special Meetings of Stockholders. Our Restated Certificate provides that willour stockholders may not take action by written consent, but may only take action at annual or special meetings of our stockholders. Under our Bylaws, stockholders are not permitted to cumulate their votes for the election of directors. Our Bylaws further provide that special meetings of the stockholders may be soldcalled by the selling stockholders. The percentagechief executive officer, president, the board of shares owned after the offering is based on 63,219,990 sharesdirectors, or by holders of our common stock outstanding aswho hold, in the aggregate, not less than fifty percent (50%) of June 30, 2015, which includes the outstanding shares of common stock offeredfor the purpose or purposes stated in the call of the meeting. These provisions may prevent stockholders from corporate actions as stockholders at times when they otherwise would like to do so.
Advance Notice Requirements for Stockholder Proposals and Director Nominations. Our Bylaws provide advance notice procedures for stockholders seeking to bring business before our annual meeting of stockholders, or to nominate candidates for election as directors at our annual meeting of stockholders. Our Bylaws also specify certain requirements as to the form and content of a stockholder’s notice. These provisions may make it more difficult for our stockholders to bring matters before our annual meeting of stockholders or to nominate directors at our annual meeting of stockholders.
These provisions are intended to enhance the likelihood of continued stability in the composition of our board of directors and its policies and to discourage certain types of transactions that may involve an actual or threatened acquisition of us. These provisions are designed to reduce our vulnerability to an unsolicited acquisition proposal. The provisions also are intended to discourage certain tactics that may be used in proxy fights. However, these provisions could have the effect of discouraging others from making tender offers for our shares and, as a consequence, they may also reduce fluctuations in the market price of our shares that could result from actual or rumored takeover attempts.
Section 203 of the Delaware General Corporation Law
We are subject to Section 203 of the Delaware General Corporation Law. Section 203 generally prohibits certain Delaware corporations from engaging, under certain circumstances, in a “business combination” with any “interested stockholder for a period of three years following the time that such stockholder became an interested stockholder, unless:
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Section 203 defines a business combination to include:
In general, Section 203 defines an interested stockholder as any entity or person beneficially owning 15% or more of the outstanding voting stock of the corporation and any entity or person that is an affiliate or associate of such entity or person.
A Delaware corporation may “opt out” of these provisions with an express provision in its original certificate of incorporation or an express provision in its certificate of incorporation or bylaws resulting from a stockholders’ amendment approved by a majority of the outstanding voting shares. We have not “opted out” of these provisions and do not plan to do so. The statute could prohibit or delay mergers or other takeover or change in control attempts and, accordingly, may discourage attempts to acquire us.
Potential Effects of Authorized but Unissued Stock
Our shares of common stock and preferred stock available for future issuance without stockholder approval. We may utilize these additional shares for a variety of corporate purposes, including future public offerings to raise additional capital, to facilitate corporate acquisitions or payment as a dividend on the capital stock.
The existence of unissued and unreserved common stock and preferred stock may enable our board of directors to issue shares to persons friendly to current management or to issue preferred stock with terms that could render more difficult or discourage a third-party attempt to obtain control by means of a merger, tender offer, proxy contest or otherwise, thereby protecting the continuity of our management. In addition, our board of directors has the discretion to determine designations, rights, preferences, privileges and restrictions, including voting rights, dividend rights, conversion rights, redemption privileges and liquidation preferences of each series of preferred stock, all to the
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fullest extent permissible under the Delaware General Corporation Law and subject to any limitations set forth in our certificate of incorporation. The purpose of authorizing the board of directors to issue preferred stock and to determine the rights and preferences applicable to such preferred stock is to eliminate delays associated with a stockholder vote on specific issuances. The issuance of preferred stock, while providing desirable flexibility in connection with possible financings, acquisitions and other corporate purposes, could have the effect of making it more difficult for a third party to acquire, or could discourage a third party from acquiring, a majority of our outstanding voting stock.
Amendments to Governing Documents
Generally, the amendment of our Restated Certificate requires approval by our board of directors and a majority vote of stockholders, provided that the provisions of our Restated Certificate relating to (i) the requirement that all stockholder action be taken only at a duly called annual meeting or special meeting; (ii) the authority and power of the board of directors and the procedure required to amend our Bylaws; (iii) the percentage of the shares necessary to amend the Restated Certificate; (iv) the elimination of directors’ personal liability for monetary damages arising from their negligence and gross negligence; and (v) indemnification of directors, officers and other persons requires approval of our stockholders holding at least66-2/3% of our capital stock then outstanding and entitled to vote. Any amendment to our Bylaws requires the approval of either a majority of our board of directors or approval of our stockholders holding at least66-2/3% of our capital stock then outstanding and entitled to vote.
Transfer Agent and Registrar
The transfer agent and registrar for our common stock is Computershare Trust Company N.A. The transfer agent for any series of preferred stock that we may offer under this prospectus pluswill be named and described in the prospectus supplement for that series.
Listing on the NASDAQ Capital Market
Our common stock is listed on the NASDAQ Capital Market under the symbol “ABIO.”
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DESCRIPTION OF DEBT SECURITIES
We may issue debt securities from time to time, in one or more series, as either senior or subordinated debt or as senior or subordinated convertible debt. While the terms we have summarized below will apply generally to any debt securities that we may offer under this prospectus, we will describe the particular terms of any debt securities that we may offer in more detail in the applicable prospectus supplement. The terms of any debt securities offered under a prospectus supplement may differ from the terms described below. Unless the context requires otherwise, whenever we refer to the indenture, we also are referring to any supplemental indentures that specify the terms of a particular series of debt securities.
We will issue the debt securities under the indenture that we will enter into with the trustee named in the indenture. The indenture will be qualified under the Trust Indenture Act of 1939, as amended, or the Trust Indenture Act. We have filed the form of indenture as an exhibit to the registration statement of which this prospectus is a part, and supplemental indentures and forms of debt securities containing the terms of the debt securities being offered will be filed as exhibits to the registration statement of which this prospectus is a part or will be incorporated by reference from reports that we file with the SEC.
The following summary of material provisions of the debt securities and the indenture is subject to, and qualified in its entirety by reference to, all of the provisions of the indenture applicable to a particular series of debt securities. We urge you to read the applicable prospectus supplements and any related free writing prospectuses related to the debt securities that we may offer under this prospectus, as well as the complete indenture that contains the terms of the debt securities.
General
The indenture does not limit the amount of debt securities that we may issue. It provides that we may issue debt securities up to the principal amount that we may authorize and may be in any currency or currency unit that we may designate. Except for the limitations on consolidation, merger and sale of all or substantially all of our assets contained in the indenture, the terms of the indenture do not contain any covenants or other provisions designed to give holders of any debt securities protection against changes in our operations, financial condition or transactions involving us.
We may issue the debt securities issued under the indenture as “discount securities,” which means they may be sold at a discount below their stated principal amount. These debt securities, as well as other debt securities that are not issued at a discount, may be issued with “original issue discount,” or OID, for U.S. federal income tax purposes because of interest payment and other characteristics or terms of the debt securities. Material U.S. federal income tax considerations applicable to debt securities issued with OID will be described in more detail in any applicable prospectus supplement.
We will describe in the applicable prospectus supplement the terms of the series of debt securities being offered, including:
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Conversion or Exchange Rights
We will set forth in any applicable prospectus supplement the terms on which a series of debt securities may be convertible into or exchangeable for our common stock or our other securities. We will include provisions as to settlement upon conversion or exchange and whether conversion or exchange is mandatory, at the option of the holder or at our option. We may include provisions pursuant to which the number of shares of our common stock issuableor our other securities that the holders of the series of debt securities receive would be subject to adjustment.
Consolidation, Merger or Sale
Unless we provide otherwise in the prospectus supplement applicable to a particular series of debt securities, the indenture will not contain any covenant that restricts our ability to merge or consolidate, or sell, convey, transfer or otherwise dispose of our assets as an entirety or substantially as an entirety. However, any successor to or acquirer of such assets (other than a subsidiary of ours) must assume all of our obligations under the indenture or the debt securities, as appropriate.
Events of Default under the Indenture
Unless we provide otherwise in the prospectus supplement applicable to a particular series of debt securities, the following are events of default under the indenture with respect to any series of debt securities that we may issue:
if we fail to observe or perform any other covenant or agreement contained in the debt securities or the indenture, other than a covenant specifically relating to another series of debt securities, and our failure
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continues for 90 days after we receive written notice of such failure, requiring the same to be remedied and stating that such is a notice of default thereunder, from the trustee or holders of at least 25% in aggregate principal amount of the outstanding debt securities of the applicable series; and |
If an event of default with respect to debt securities of any series occurs and is continuing, other than an event of default specified in the last bullet point above, the trustee or the holders of at least 25% in aggregate principal amount of the outstanding debt securities of that series, by notice to us in writing, and to the trustee if notice is given by such holders, may declare the unpaid principal of, premium, if any, and accrued interest, if any, due and payable immediately. If an event of default specified in the last bullet point above occurs with respect to us, the principal amount of and accrued interest, if any, of each issue of debt securities then outstanding shall be due and payable without any notice or other action on the part of the trustee or any holder.
The holders of a majority in principal amount of the outstanding debt securities of an affected series may waive any default or event of default with respect to the series and its consequences, except defaults or events of default regarding payment of principal, premium, if any, or interest, unless we have cured the default or event of default in accordance with the indenture. Any waiver shall cure the default or event of default.
Subject to the terms of the indenture, if an event of default under an indenture shall occur and be continuing, the trustee will be under no obligation to exercise any of its rights or powers under such indenture at the request or direction of any of the holders of the applicable series of debt securities, unless such holders have offered the trustee reasonable indemnity. The holders of a majority in principal amount of the outstanding debt securities of any series will have the right to direct the time, method and place of conducting any proceeding for any remedy available to the trustee, or exercising any trust or power conferred on the trustee, with respect to the debt securities of that series, provided that:
A holder of the debt securities of any series will have the right to institute a proceeding under the indenture or to appoint a receiver or trustee, or to seek other remedies only if:
These limitations do not apply to a suit instituted by a holder of June 30, 2015debt securities if we default in the payment of the principal, premium, if any, or interest on, the debt securities.
We will periodically file statements with the trustee regarding our compliance with specified covenants in the indenture.
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Modification of Indenture; Waiver
Unless we provide otherwise in the prospectus supplement applicable to a particular series of debt securities, we and the trustee may change an indenture without the consent of any holders with respect to specific matters:
In addition, under the indenture, the rights of holders of a series of debt securities may be changed by us and the trustee with the written consent of the holders of a majority in aggregate principal amount of the outstanding debt securities of each series that is affected. However, unless we provide otherwise in the prospectus supplement applicable to a particular series of debt securities, we and the trustee may make the following changes only with the consent of each holder of any outstanding debt securities affected:
Discharge
Each indenture provides that we can elect to be discharged from our obligations with respect to one or more series of debt securities, except for specified obligations, including obligations to:
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In order to exercise our rights to be discharged, we must deposit with the trustee money or government obligations sufficient to pay all the principal of, any premium, if any, and interest on, the debt securities of the series on the dates payments are due.
Form, Exchange and Transfer
We will issue the debt securities of each series only in fully registered form without coupons and, unless we provide otherwise in the applicable prospectus supplement, in denominations of $1,000 and any integral multiple thereof. The indenture provides that we may issue debt securities of a series in temporary or permanent global form and as book-entry securities that will be deposited with, or on behalf of, The Depository Trust Company, or DTC, or another depositary named by us and identified in a prospectus supplement with respect to that series. To the extent the debt securities of a series are issued in global form and as book-entry, a description of terms relating to any book-entry securities will be set forth in the applicable prospectus supplement.
At the option of the holder, subject to the terms of the indenture and the limitations applicable to global securities described in the applicable prospectus supplement, the holder of the debt securities of any series can exchange the debt securities for other debt securities of the same series, in any authorized denomination and of like tenor and aggregate principal amount.
Subject to the terms of the indenture and the limitations applicable to global securities set forth in the applicable prospectus supplement, holders of the debt securities may present the debt securities for exchange or for registration of transfer, duly endorsed or with the form of transfer endorsed thereon duly executed if so required by us or the security registrar, at the office of the security registrar or at the office of any transfer agent designated by us for this purpose. Unless otherwise provided in the debt securities that the holder presents for transfer or exchange, we will impose no service charge for any registration of transfer or exchange, but we may require payment of any taxes or other governmental charges.
We will name in the applicable prospectus supplement the security registrar, and any transfer agent in addition to the security registrar, that we initially designate for any debt securities. We may at any time designate additional transfer agents or rescind the designation of any transfer agent or approve a change in the office through which any transfer agent acts, except that we will be required to maintain a transfer agent in each place of payment for the debt securities of each series.
If we elect to redeem the debt securities of any series, we will not be required to:
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Information Concerning the Trustee
The trustee, other than during the occurrence and continuance of an event of default under an indenture, undertakes to perform only those duties as are specifically set forth in the applicable indenture. Upon an event of default under an indenture, the trustee must use the same degree of care as a prudent person would exercise or use in the conduct of his or her own affairs. Subject to this provision, the trustee is under no obligation to exercise any of the powers given it by the indenture at the request of any holder of debt securities unless it is offered reasonable security and indemnity against the costs, expenses and liabilities that it might incur.
Payment and Paying Agents
Unless we otherwise indicate in the applicable prospectus supplement, we will make payment of the interest on any debt securities on any interest payment date to the person in whose name the debt securities, or one or more predecessor securities, are registered at the close of business on the regular record date for the interest.
We will pay principal of and any premium and interest on the debt securities of a particular series at the office of the paying agents designated by us, except that unless we otherwise indicate in the applicable prospectus supplement, we will make interest payments by check that we will mail to the holder or by wire transfer to certain holders. Unless we otherwise indicate in the applicable prospectus supplement, we will designate the corporate trust office of the trustee as our sole paying agent for payments with respect to debt securities of each series. We will name in the applicable prospectus supplement any other paying agents that we initially designate for the debt securities of a particular series. We will maintain a paying agent in each place of payment for the debt securities of a particular series.
All money we pay to a paying agent or the trustee for the payment of the principal of or any premium or interest on any debt securities that remains unclaimed at the end of two years after such principal, premium or interest has become due and payable will be repaid to us, and the holder of the debt security thereafter may look only to us for payment thereof.
Governing Law
The indenture and the debt securities will be governed by and construed in accordance with the laws of the State of New York, except to the extent that the Trust Indenture Act is applicable.
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The following description, together with the additional information we may include in any applicable prospectus supplements, summarizes the material terms and provisions of the warrants that we may offer under this prospectus and the related warrant agreements and warrant certificates. While the terms summarized below will apply generally to any warrants that we may offer, we will describe the particular terms of any series of warrants in more detail in the applicable prospectus supplement. If we indicate in the prospectus supplement, the terms of any warrants offered under that prospectus supplement may differ from the terms described below. However, no prospectus supplement shall fundamentally change the terms that are set forth in this prospectus or offer a security that is not registered and described in this prospectus at the time of its effectiveness. Specific warrant agreements will contain additional important terms and provisions and will be incorporated by reference as an exhibit to the registration statement that includes this prospectus or as an exhibit to a report that we file with the SEC.
General
We will describe in the applicable prospectus supplement the terms of the series of warrants, including:
Under
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Before exercising their warrants, a selling stockholderholders of warrants will not have any of the rights of holders of the securities purchasable upon such exercise, including:
Exercise of Warrants
Each warrant will entitle the holder to purchase the securities that we specify in the applicable prospectus supplement at the exercise price that we describe in the applicable prospectus supplement. Unless we otherwise specify in the applicable prospectus supplement, holders of the warrants may not exercise the warrants at any time up to 5:00 P.M. eastern time on the expiration date that we set forth in the applicable prospectus supplement. After the close of business on the expiration date, unexercised warrants will become void.
Holders of the warrants may exercise the warrants by delivering the warrant certificate representing the warrants to be exercised together with specified information, and paying the required amount to the extent (but onlywarrant agent in immediately available funds, as provided in the applicable prospectus supplement. We will set forth on the reverse side of the warrant certificate and in the applicable prospectus supplement the information that the holder of the warrant will be required to deliver to the extent)warrant agent.
Upon receipt of the required payment and the warrant certificate properly completed and duly executed at the corporate trust office of the warrant agent or any other office indicated in the applicable prospectus supplement, we will issue and deliver the securities purchasable upon such selling stockholderexercise. If fewer than all of the warrants represented by the warrant certificate are exercised, then we will issue a new warrant certificate for the remaining amount of warrants. If we so indicate in the applicable prospectus supplement, holders of the warrants may surrender securities as all or part of the exercise price for warrants.
Enforceability of Rights by Holders of Warrants
Each warrant agent will act solely as our agent under the applicable warrant agreement and will not assume any obligation or relationship of agency or trust with any holder of any warrant. A single bank or trust company may act as warrant agent for more than one issue of warrants. A warrant agent will have no duty or responsibility in case of any default by us under the applicable warrant agreement or warrant, including any duty or responsibility to initiate any proceedings at law or otherwise, or to make any demand upon us. Any holder of a warrant may, without the consent of the related warrant agent or the holder of any other warrant, enforce by appropriate legal action its right to exercise, and receive the securities purchasable upon exercise of, its affiliates would beneficially own a numberwarrants.
Outstanding Warrants
As of December 31, 2016, there were outstanding warrants to purchase 3,686,894 shares of our common stock, which would exceed 9.9%having an exercise price ranging from $6.10 to $818.23, with a weighted average exercise price per share of our outstanding common stock, provided, however, that if$8.82. Any of the outstanding warrants may be exercised by applying the value of a portion of the warrant, which is equal to the number of shares issuable under the warrant being exercised multiplied by the fair market value of common stock held by such selling stockholder and its affiliates, together, without giving effect to such selling stockholder’s warrants, exceeds 9.9% of our outstanding common stock, prior tothe security receivable upon the exercise of the warrant, less the per share price, in lieu of payment of the exercise price per share.
The warrants will expire, if not exercised, at various times between June 22, 2017 and June 16, 2022.
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We can issue securities in registered form or in the form of one or more global securities. We describe global securities in greater detail below. We refer to those persons who have securities registered in their own names on the books that we or any warrants, then such selling stockholderapplicable trustee, depositary or warrant agent maintain for this purpose as the “holders” of those securities. These persons are the legal holders of the securities. We refer to those persons who, indirectly through others, own beneficial interests in securities that are not registered in their own names, as “indirect holders” of those securities. As we discuss below, indirect holders are not legal holders, and investors in securities issued in book-entry form or in street name will be indirect holders.
Book-Entry Holders
We may not exerciseissue securities in book-entry form only, as we will specify in the warrantsapplicable prospectus supplement. This means securities may be represented by one or more global securities registered in the name of a financial institution that holds them as depositary on behalf of other financial institutions that participate in the depositary’s book-entry system. These participating institutions, which are referred to as participants, in turn, hold beneficial interests in the securities on behalf of themselves or their customers.
Only the person in whose name a security is registered is recognized as the holder of that security. Securities issued in global form will be registered in the name of the depositary or its participants. Consequently, for securities issued in global form, we will recognize only the depositary as the holder of the securities, and we will make all payments on the securities to the extent (butdepositary. The depositary passes along the payments it receives to its participants, which in turn pass the payments along to their customers who are the beneficial owners. The depositary and its participants do so under agreements they have made with one another or with their customers; they are not obligated to do so under the terms of the securities.
As a result, investors in a book-entry security will not own securities directly. Instead, they will own beneficial interests in a global security, through a bank, broker or other financial institution that participates in the depositary’s book-entry system or holds an interest through a participant. As long as the securities are issued in global form, investors will be indirect holders, and not holders, of the securities.
Street Name Holders
We may terminate a global security or issue securities innon-global form. In these cases, investors may choose to hold their securities in their own names or in “street name.” Securities held by an investor in street name would be registered in the name of a bank, broker or other financial institution that the investor chooses, and the investor would hold only a beneficial interest in those securities through an account he or she maintains at that institution.
For securities held in street name, we or any applicable trustee or depositary will recognize only the intermediary banks, brokers and other financial institutions in whose names the securities are registered as the holders of those securities, and we or any applicable trustee or depositary will make all payments on those securities to them. These institutions pass along the payments they receive to their customers who are the beneficial owners, but only because they agree to do so in their customer agreements or because they are legally required to do so. Investors who hold securities in street name will be indirect holders, not holders, of those securities.
Legal Holders
Our obligations, as well as the obligations of any applicable trustee and of any third parties employed by us or a trustee, run only to the extent)legal holders of the securities. We do not have obligations to investors who hold beneficial interests in global securities, in street name or by any other indirect means. This will be the case whether an investor chooses to be an indirect holder of a security or has no choice because we are issuing the securities only in global form.
For example, once we make a payment or give a notice to the holder, we have no further responsibility for the payment or notice even if that holder is required, under agreements with depositary participants or customers or by
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law, to pass it along to the indirect holders but does not do so. Similarly, we may want to obtain the approval of the holders to amend an indenture, to relieve us of the consequences of a default or of our obligation to comply with a particular provision of the indenture or for other purposes. In such selling stockholderan event, we would seek approval only from the holders, and not the indirect holders, of the securities. Whether and how the holders contact the indirect holders is up to the holders.
Special Considerations for Indirect Holders
If you hold securities through a bank, broker or other financial institution, either in book-entry form or in street name, you should check with your own institution to find out:
Global Securities
A global security is a security that represents one or any other number of individual securities held by a depositary. Generally, all securities represented by the same global securities will have the same terms.
Each security issued in book-entry form will be represented by a global security that we deposit with and register in the name of a financial institution or its nominee that we select. The financial institution that we select for this purpose is called the depositary. Unless we specify otherwise in the applicable prospectus supplement, DTC will be the depositary for all securities issued in book-entry form.
A global security may not be transferred to or registered in the name of anyone other than the depositary, its nominee or a successor depositary, unless special termination situations arise. We describe those situations below under the section entitled “Special Situations When a Global Security Will Be Terminated” in this prospectus. As a result of these arrangements, the depositary, or its nominee, will be the sole registered owner and holder of all securities represented by a global security, and investors will be permitted to own only beneficial interests in a global security. Beneficial interests must be held by means of an account with a broker, bank or other financial institution that in turn has an account with the depositary or with another institution that does. Thus, an investor whose security is represented by a global security will not be a holder of the security, but only an indirect holder of a beneficial interest in the global security.
If the prospectus supplement for a particular security indicates that the security will be issued in global form only, then the security will be represented by a global security at all times unless and until the global security is terminated. If termination occurs, we may issue the securities through another book-entry clearing system or decide that the securities may no longer be held through any book-entry clearing system.
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Special Considerations for Global Securities
The rights of an indirect holder relating to a global security will be governed by the account rules of the investor’s financial institution and of the depositary, as well as general laws relating to securities transfers. We do not recognize an indirect holder as a holder of securities and instead deal only with the depositary that holds the global security.
If securities are issued only in the form of a global security, an investor should be aware of the following:
There may be more than one financial intermediary in the chain of ownership for an investor. We do not monitor and are not responsible for the actions of any of those intermediaries.
Special Situations When a numberGlobal Security Will Be Terminated
In a few special situations described below, the global security will terminate and interests in it will be exchanged for physical certificates representing those interests. After that exchange, the choice of shareswhether to hold securities directly or in street name will be up to the investor. Investors must consult their own banks, brokers or other financial institutions to find out how to have their interests in securities transferred to their own name, so that they will be direct holders. We have described the rights of our common stockholders and street name investors above.
Unless we provide otherwise in any applicable prospectus supplement, the global security will terminate when the following special situations occur:
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The applicable prospectus supplement may also list additional situations for terminating a global security that would exceed 19.9%apply only to the particular series of our outstanding common stock. RA Capital Healthcare Fund, L.P., RA Capital Management, LLC, Blackwell Partners LLC – Series A,securities covered by the applicable prospectus supplement. When a global security terminates, the depositary, and Peter Kolchinsky are considered one entitynot we or any applicable trustee, is responsible for deciding the purposesnames of calculating the 9.9% maximum percentage described ininstitutions that will be the preceding sentence. The number of shares in the second column does not reflect these limitations. The selling stockholders may sell all, some or none of their shares in this offering. See “Plan of Distribution.”initial direct holders.
Selling Stockholder Venrock Healthcare Capital Partners II, L.P. (4) VHCP Co-Investment Holdings II, LLC (4) Venrock Healthcare Capital Partners, L.P. (4) VHCP Co-Investment Holdings, LLC (4) Growth Equity Opportunities Fund IV, LLC (5) Franklin Templeton Investment Funds – Franklin Biotechnology Discovery Fund (6) Franklin Strategic Series – Franklin Biotechnology Discovery Fund (6) RA Capital Healthcare Fund, L.P. (7) Blackwell Partners LLC – Series A (7) Tekla Life Sciences Investors (8) Capital Ventures International (9) DAFNA LifeScience, L.P. (10) DAFNA LifeScience Market Neutral, L.P. (10) DAFNA LifeScience Select, L.P. (10) Common Stock
Beneficially
Owned Before
the Offering
(1)(2) Number of
Shares of
Common
Stock to be
Offered (2) Stock
Beneficially
Owned
After the
Offering (3) Percentage
Ownership
After
Offering 7,523,072 7,523,072 — * % 3,050,466 3,050,466 — * 3,830,943 3,830,943 — * 700,573 700,573 — * 14,310,051 14,310,051 — * 7,239,877 7,239,877 — * 4,685,166 4,685,166 — * 6,542,873 6,542,873 — * 1,407,155 1,407,155 — * 7,950,029 7,950,029 — * 795,003 795,003 — * 453,152 453,152 — * 31,800 31,800 — * 310,051 310,051 — *
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We are registeringmay sell the shares of common stock issued to the selling stockholders and the shares of common stock issuable upon exercise of the warrants to permit the resale of these shares of common stock by the selling stockholderssecurities from time to time afterpursuant to underwritten public offerings, direct sales to the datepublic, negotiated transactions, block trades or a combination of this prospectus.these methods. We will not receive any of the proceeds from the sale by the selling stockholders of the shares of common stock. We will bear all fees and expenses incident to our obligation to register the shares of common stock.
The selling stockholders may sell allthe securities to or a portion of the shares of common stock held by them and offered herebythrough underwriters or dealers, through agents, or directly to one or more purchasers. We may distribute securities from time to time directly or throughin one or more transactions:
We may also sell equity securities covered by this registration statement in an “at the market offering” as defined in Rule 415 under the Securities Act. Such offering may be made into an existing trading market for such securities in transactions at other than a fixed price, either:
Such at the market offerings, if any, may be conducted by underwriters broker-dealersacting as principal or agents. Ifagent.
A prospectus supplement or supplements (and any related free writing prospectus that we may authorize to be provided to you) will describe the sharesterms of common stock are sold throughthe offering of the securities, including, to the extent applicable:
Only underwriters named in the prospectus supplement will be responsibleunderwriters of the securities offered by the prospectus supplement.
If underwriters are used in the sale, they will acquire the securities for underwriting discounts or commissions or agent’s commissions. The shares of common stocktheir own account and may be soldresell the securities from time to time in one or more transactions at a fixed prices, at prevailing market prices at the time of the sale,public offering price or at varying prices determined at the time of sale or at negotiated prices. These sales may be effected in transactions, which may involve crosses or block transactions, pursuant to one or moresale. The obligations of the following methods:underwriters to purchase the securities will be subject to the conditions set forth in the applicable underwriting agreement. We may offer the securities to the public through
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underwriting syndicates represented by managing underwriters or quotation service on whichby underwriters without a syndicate. Subject to certain conditions, the securities mayunderwriters will be listed or quoted at the time of sale;
The selling stockholders may also sell shares of common stock under Rule 144 promulgated under the Securities Act, if available, rather than under this prospectus. In addition, the selling stockholders may transfer the shares of common stock by other means not described in this prospectus. If the selling stockholders effect such transactions by selling shares of common stock to or through underwriters, broker-dealers or agents, such underwriters, broker-dealers or agents may receive commissions in the form of discounts, concessions or commissions from the selling stockholders or commissions from purchasers of the shares of common stock for whom they may act as agent or to whom they may sell as principal (which discounts, concessions or commissions as to particular underwriters, broker-dealers or agents may be in excess of those customary in the types of transactions involved).
In connection with sales of the shares of common stock or otherwise, the selling stockholders may enter into hedging transactions with broker-dealers, which may in turn engage in short sales of the shares of common stock in the course of hedging in positions they assume. The selling stockholders may also sell shares of common stock short and deliver shares of common stock covered by this prospectus to close out short positions and to return borrowed shares in connection with such short sales. The selling stockholders may also loan or pledge shares of common stock to broker-dealers that in turn may sell such shares.
The selling stockholders may pledge or grant a security interest in some orpurchase all of the warrants or shares of common stock owned by them and, if they default in the performance of their secured obligations, the pledgees or secured parties may offer and sell the shares of common stock from time to time pursuant to this prospectus or any amendment to this prospectus under Rule 424(b)(3) or other applicable provision of the Securities Act amending, if necessary, the list of selling stockholders to include the pledgee, transferee or other successors in interest as selling stockholders under this prospectus. The selling stockholders also may transfer and donate the shares of common stock in other circumstances in which case the transferees, donees, pledgees or other successors in interest will be the selling beneficial owners for purposes of this prospectus.
To the extent requiredsecurities offered by the Securities Actprospectus supplement, other than securities covered by any over-allotment option. Any public offering price and the rules and regulations thereunder, the selling stockholders and any broker-dealer participating in the distribution of the shares of common stock may be deemed to be “underwriters” within the meaning of the Securities Act, and any commission paid, or any discounts or concessions allowed to, any such broker-dealer may be deemed to be underwriting commissions or discounts under the Securities Act. At the time a particular offering of the shares of common stock is made, a prospectus supplement, if required, will be distributed, which will set forth the aggregate amount of shares of common stock being offered and the terms of the offering, including the name or names of any broker-dealers or agents, any discounts, commissions and other terms constituting compensation from the selling stockholders and any discounts, commissions or concessions allowed or re-allowedreallowed or paid to broker-dealers.dealers may change from time to time. We may use underwriters with whom we have a material relationship. We will describe in the prospectus supplement, naming the underwriter, the nature of any such relationship.
UnderWe may sell securities directly or through agents we designate from time to time. We will name any agent involved in the offering and sale of securities lawsand we will describe any commissions we will pay the agent in the applicable prospectus supplement. Unless the applicable prospectus supplement states otherwise, our agent will act on a best-efforts basis for the period of some states,its appointment.
We may authorize agents or underwriters to solicit offers by certain types of institutional investors to purchase securities from us at the shares of common stock may be soldpublic offering price set forth in such states only through registered or licensed brokers or dealers. In addition, in some states the shares of common stock may not be sold unless such shares have been registered or qualified for sale in such state or an exemption from registration or qualification is available and is complied with.
There can be no assurance that any selling stockholder will sell any or all of the shares of common stock registeredapplicable prospectus supplement pursuant to delayed delivery contracts providing for payment and delivery on a specified date in the registration statement, of which this prospectus forms a part.
The selling stockholders and any other person participating in such distributionfuture. We will be subjectdescribe the conditions to applicable provisions of the Exchange Actthese contracts and the rules and regulations thereunder, including, without limitation, to the extent applicable, Regulation Mcommissions we must pay for solicitation of the Exchange Act, which may limit the timing of purchases and sales of any of the shares of common stock by the selling stockholders and any other participating person. To the extent applicable, Regulation M may also restrict the ability of any person engagedthese contracts in the distribution of the shares of common stock to engage in market-making activities with respect to the shares of common stock. All of the foregoing may affect the marketability of the shares of common stock and the ability of any person or entity to engage in market-making activities with respect to the shares of common stock.prospectus supplement.
We will pay all expenses of the registration of the shares of common stock pursuant to the stock purchase agreement, estimated to be $330,000 in total, including, without limitation, SEC filing feesmay provide agents and expenses of complianceunderwriters with state securities or “blue sky” laws; provided, however, a selling stockholder will pay all underwriting discounts and selling commissions, if any. We will indemnify the selling stockholders against liabilities, including some liabilities under the Securities Act in accordance with the securities purchase agreements or the selling stockholders will be entitled to contribution. We may be indemnified by the selling stockholdersindemnification against civil liabilities, including liabilities under the Securities Act, or contribution with respect to payments that the agents or underwriters may arise from any written information furnishedmake with respect to these liabilities. Agents and underwriters may engage in transactions with, or perform services for, us byin the selling stockholder specifically for use in this prospectus, in accordance with the relatedordinary course of business.
All securities purchase agreements or we may be entitled to contribution.
Once sold under the registration statement, of which this prospectus forms a part, the shares ofoffer, other than common stock, will be freely tradablenew issues of securities with no established trading market. Any underwriters may make a market in these securities, but will not be obligated to do so and may discontinue any market making at any time without notice. We cannot guarantee the liquidity of the trading markets for any securities.
Any underwriter may engage in over-allotment, stabilizing transactions, short-covering transactions and penalty bids in accordance with Regulation M under the Exchange Act. Over-allotment involves sales in excess of the offering size, which create a short position. Stabilizing transactions permit bids to purchase the underlying security so long as the stabilizing bids do not exceed a specified maximum price. Syndicate-covering or other short-covering transactions involve purchases of the securities, either through exercise of the over-allotment option or in the handsopen market after the distribution is completed, to cover short positions. Penalty bids permit the underwriters to reclaim a selling concession from a dealer when the securities originally sold by the dealer are purchased in a stabilizing or covering transaction to cover short positions. Those activities may cause the price of persons otherthe securities to be higher than our affiliates.it would otherwise be. If commenced, the underwriters may discontinue any of the activities at any time.
Any underwriters or agents that are qualified market makers on The NASDAQ Capital Market may engage in passive market making transactions in the common stock on The NASDAQ Capital Market in accordance with Regulation M under the Exchange Act, during the business day prior to the pricing of the offering, before the commencement of offers or sales of the common stock. Passive market makers must comply with applicable volume and price limitations and must be identified as passive market makers. In general, a passive market maker must display its bid at a price not in excess of the highest independent bid for such security; if all independent bids are lowered below the passive market maker’s bid, however, the passive market maker’s bid must then be lowered when certain purchase limits are exceeded. Passive market making may stabilize the market price of the securities at a level above that which might otherwise prevail in the open market and, if commenced, may be discontinued at any time.
In compliance with guidelines of the Financial Industry Regulatory Authority, or FINRA, the maximum consideration or discount to be received by any FINRA member or independent broker dealer may not exceed 8% of the aggregate amount of the securities offered pursuant to this prospectus and the applicable prospectus supplement.
31.
TheUnless otherwise indicated in the applicable prospectus supplement, the validity of our common stock beingthe securities offered herebyby this prospectus, and any supplement thereto, will be passed upon for us by Cooley LLP, Broomfield, Colorado.
The financial statements of ARCA biopharma, Inc. (the Company) as of December 31, 20142016 and 2013,2015, and for each of the years in the two yeartwo-year period ended December 31, 2014,2016, have been incorporated by reference herein and in the registration statement in reliance upon the report of KPMG LLP, independent registered public accounting firm, incorporated by reference herein, and upon the authority of said firm as experts in accounting and auditing.
The audit report covering the December 31, 20142016, financial statements contains an explanatory paragraph that states that the Company’s recurring losses from operations and its dependence uponthe need and uncertainty related to raising additional funds from strategic transactions, sales of equity, and/or issuance of debt raisecapital to fund its clinical development programs raises substantial doubt about the entity’sCompany’s ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of that uncertainty.
WHERE YOU CAN FIND ADDITIONALMORE INFORMATION
This prospectus is part of a registration statement on FormS-3 we filed with the SEC. This prospectus does not contain all of the information set forth in the registration statement or the exhibits to the registration statement. For further information with respect to us and the securities we are offering under this prospectus, we refer you to the registration statement and the exhibits and schedules filed as a part of the registration statement. Whenever a reference is made in this prospectus to any of our contracts, agreements or other documents, the reference may not be complete and you should refer to the exhibits that are a part of the registration statement or the exhibits to the reports or other documents incorporated by reference into this prospectus for a copy of such contract, agreement or other document. You should rely only on the information contained in this prospectus, any accompanying prospectus supplement or incorporated by reference. We have not authorized anyone else to provide you with different information. We are a reporting companynot making an offer of these securities in any state where the offer is not permitted. You should not assume that the information in this prospectus or any accompanying prospectus supplement is accurate as of any date other than the date on the front page of this prospectus and the date on the front page of the applicable accompanying prospectus supplement, as applicable, regardless of the time of delivery of this prospectus and any accompanying prospectus supplement or any sale of the securities offered by this prospectus and any accompanying prospectus supplement.
We file our annual, quarterly and current reports, proxy statements and other information with the SEC. You may read and obtaincopy the registration statement, as well as any other document filed by us with the SEC, at the SEC’s Public Reference Room at 100 F Street NE, Washington, D.C. 20549. You can also request copies of ourthese documents by writing to the SEC and paying a fee for the copying cost. You may obtain information on the operation of the Public Reference Room by calling the SEC at(800) SEC-0330. The SEC maintains a website that contains reports, proxy statements and other information weregarding issuers that file electronically with the SEC, at the SEC’s public reference room at 100 F Street, N.E., Washington, D.C. 20549. Please callincluding ARCA biopharma. The address of the SEC website is www.sec.gov.
We maintain a website at 1-800-SEC-0330 for more information about the operationwww.arcabio.com. Information contained in or accessible through our website does not constitute a part of the public reference room. Our SEC filings are also available at the SEC’s web site at http://www.sec.gov.this prospectus or any accompanying prospectus supplement.
32.
INCORPORATION OF CERTAIN INFORMATION BY REFERENCE
The SEC allows us to “incorporate by reference” information from other documents that we file with it, which means that we can disclose important information to you by referring you to those documents. The information incorporated by reference is considered to be part of this prospectus. Information in this prospectus supersedes information incorporated by reference that we filed with the SEC prior to the date of this prospectus, while information that we file later with the SEC will automatically update and supersede the information in this prospectus. We incorporate by reference into this prospectus and the registration statement of which this prospectus is a part the information or documents listed below that we have filed with the SEC (Commission File No.000-22873)No. 000-22873):
We also incorporate by reference into this prospectus all documentsany future filings (other than Current Reportscurrent reports furnished under Item 2.02 or Item 7.01 of Form8-K and exhibits filed on such form that are related to such items) that are subsequently filed by usitems unless such Form8-K expressly provides to the contrary) made with the SEC pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act, including (i) those made after the date of the initial filing of the registration statement of which this prospectus is a part and prior to effectiveness of such registration statement, and (ii) those made after the date of this prospectus until we file a post-effective amendment that indicates the termination of the offering of the securities madecovered by this prospectus, (including documents filed afterand will become a part of this from the date ofthat such documents are filed with the initial registration statementSEC. Information in such future filings updates and prior tosupplements the effectiveness of the registration statement). These documents include periodic reports, such as Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, as well as proxy statements.
Any statement containedinformation provided in this prospectus orprospectus. Any statements in aany such future filings will automatically be deemed to modify and supersede any information in any document we previously filed with the SEC that is incorporated or deemed to be incorporated herein by reference into this prospectus will be deemed to be modified or superseded to the extent that a statement containedstatements in this prospectus or any subsequentlythe later filed document that is deemed to be incorporated by reference into this prospectus modifiesmodify or supersedes the statementreplace such earlier statements.
We will furnish without charge to you, on written or oral request, a copy of any or all of the documents incorporated by reference, including exhibits to these documents. You should direct any requests for documents to Brian L. Selby, Vice President, Finance, ARCA biopharma, Inc., Attention: Secretary, 11080 CirclePoint Road, Suite 140, Westminster, Colorado 80020; telephone:80020. Our phone number is (720)940-2200. In addition, all of the documents incorporated by reference into this prospectus may be accessed via the Internet at our website: http://www.arcabiopharma.com.www.arcabio.com.
This prospectus is part of a registration statement we filed with the SEC. That registration statement and the exhibits filed along with the registration statement contain more information about us and the shares in this offering. Because information about documents referred to in this prospectus is not always complete, you should read the full documents which are filed as exhibits to the registration statement. You may read and copy the full registration statement and its exhibits at the SEC’s public reference rooms or its website.
33.
THE INFORMATION IN THIS PROSPECTUS IS NOT COMPLETE AND MAY BE CHANGED. WE MAY NOT SELL THESE SECURITIES UNTIL THE REGISTRATION STATEMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION IS EFFECTIVE. THIS PROSPECTUS IS NOT AN OFFER TO SELL THESE SECURITIES AND IT IS NOT SOLICITING AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE THE OFFER OR SALE IS NOT PERMITTED.
SUBJECT TO COMPLETION, DATED APRIL 25, 2017
PROSPECTUS
$6,409,830
Common Stock
We have entered into a Capital on DemandTM Sales Agreement, or the sales agreement, with JonesTrading Institutional Services LLC, or JonesTrading, relating to shares of our common stock offered by this prospectus and the accompanying prospectus. In accordance with the terms of the sales agreement, we may offer and sell shares of our common stock, par value $0.001, having an aggregate offering price of up to $7.3 million from time to time through JonesTrading. As of April 24, 2017, we have sold $221,345 of our common stock under the sales agreement pursuant to our registration statement on FormS-3 filed with the Securities and Exchange Commission, or the SEC, on April 4, 2014 (FileNo. 333-195054), or the Prior Registration Statement. As a result of the limitations discussed below and the current public float of our common stock, and in accordance with the terms of the sales agreement, we may offer and sell shares of our common stock having an aggregate offering price of up to $6,409,830 from time to time through JonesTrading.
This prospectus updates and replaces the prospectus supplement dated January 11, 2017.
We are subject to General Instruction I.B.6 of FormS-3, which limits the amounts that we may sell under the registration statement of which this prospectus and the accompanying prospectus forms a part. Pursuant to General Instruction I.B.6 of FormS-3, in no event will we sell securities registered on the registration statement of which this prospectus is a part in a public primary offering with a value exceeding more thanone-third of our public float in any12-month period if our public float, measured in accordance with such instruction, remains below $75.0 million. As of April 24, 2017, the aggregate market value of our common stock held bynon-affiliates, or the public float, was $19,893,524, which was calculated based on 7,506,990 shares of our outstanding common stock held bynon-affiliates as of the date of April 24, 2017 at a price of $2.65 per share, which was the closing price of our common stock on the NASDAQ Capital Market, or the Exchange, on March 24, 2017. As of the date hereof, we have sold $221,345 shares of our common stock pursuant to General Instruction I.B.6 of FormS-3 during the 12 calendar months prior to and including the date of this prospectus.
Our common stock is listed on the Exchange under the symbol “ABIO.” On April 24, 2017, the last reported sale price of our common stock was $2.50 per share.
Sales of our common stock, if any, under this prospectus and accompanying prospectus may be made in sales deemed to be “at the market offerings” as defined in Rule 415 promulgated under the Securities Act of 1933, as amended, or the Securities Act. JonesTrading is not required to sell any specific number or dollar amount of securities, but will act as a sales agent using commercially reasonable efforts consistent with its normal trading and sales practices, on mutually agreed terms between JonesTrading and us. There is no arrangement for funds to be received in any escrow, trust or similar arrangement.
The compensation to JonesTrading for sales of common stock sold pursuant to the sales agreement will be an amount equal to 3.0% of the gross proceeds of any shares of common stock sold under the sales agreement. In connection with the sale of the common stock on our behalf, JonesTrading will be deemed to be an “underwriter” within the meaning of the Securities Act and the compensation of JonesTrading will be deemed to be underwriting commissions or discounts. We have also agreed to provide indemnification and contribution to JonesTrading with respect to certain liabilities, including liabilities under the Securities Act or the Exchange Act of 1934, as amended, or the Exchange Act.
Investing in our securities involves a high degree of risk. You should review carefully the risks and uncertainties described under the heading “Risk Factors” on pageS-4 of this prospectus and under similar headings in the other documents that are incorporated by reference into this prospectus.
NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR DETERMINED IF THIS PROSPECTUS OR THE ACCOMPANYING PROSPECTUS ARE TRUTHFUL OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
JonesTrading
The date of this prospectus is , 2017.
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This summary highlights certain information about us, this offering and selected information contained elsewhere in or incorporated by reference into this prospectus and accompanying prospectus. This summary is not complete and does not contain all of the information that you should consider before deciding whether to invest in our common stock. For a more complete understanding of our company and this offering, we encourage you to read and consider carefully the more detailed information in this prospectus and accompanying prospectus, including the information incorporated by reference in this prospectus and accompanying prospectus, and the information included in any prospectus supplement or free writing prospectus that we have authorized for use in connection with this offering, including the information under the heading “Risk Factors” in this prospectus on pageS-4 and in the documents incorporated by reference into this prospectus and accompanying prospectus.
The terms “ARCA,” “the Company,” “we,” “us,” “our” and similar terms refer to ARCA biopharma, Inc.
Company Overview
We are a biopharmaceutical company applying a precision medicine approach to developing genetically-targeted therapies for cardiovascular diseases. Precision medicine refers to the tailoring of medical treatment to the individual characteristics of each patient through the ability to classify individuals into subpopulations that differ in their susceptibility to a particular disease, in the biology and/or prognosis of those diseases they may develop, or in their response to a specific treatment. Our lead product candidate, Gencaro™ (bucindolol hydrochloride), is an investigational, pharmacologically unique beta-blocker and mild vasodilator that we are developing for the potential treatment of patients with atrial fibrillation, or AF, and chronic heart failure with reduced left ventricular ejection fraction, or HFrEF. HFrEF constitutes an estimated50-60% of the total heart failure with the remainder comprised of heart failure with preserved ejection fraction. We believe that Gencaro’s efficacy is enhanced in a specific genotype that is present in approximately fifty percent of the general population in the United States, and can be identified by a genetic test. We believe that with this genetic test, we may be able to predict individual patient response to Gencaro, potentially improving the efficacy of treatment for AF in HFrEF patients with this particular genotype. We believe that Gencaro, if approved, could potentially be a safer and more effective therapy for treating or preventing AF in patients with HFrEF and could be the first genetically-targeted AF treatment. We also believe that Gencaro may have market exclusivity based on patents and new chemical entity status, if approved in the United States, Europe or other markets.
We are testing this hypothesis in a Phase 2B/Phase 3 clinical trial of Gencaro, known asGENETIC-AF. We are pursuing this indication for Gencaro because data from a prior Phase 3 HF trial of Gencaro in 2,708 heart failure patients which suggested that Gencaro may be successful in reducing or preventing AF in patients with a specific genotype.
Risks Associated with our Business
Our business is subject to numerous risks and uncertainties, including those highlighted in the section titled “Risk Factors” immediately following this prospectus summary and those described under similar headings in the documents incorporated by reference into this prospectusand accompanying prospectus. These risks include:
S-1.
Corporate Information
On January 27, 2009, we completed a business combination, or the Merger, with Nuvelo, Inc. Immediately following the Merger, we changed our name from Nuvelo, Inc. to ARCA biopharma, Inc. Our principal offices are located in Westminster, Colorado, and our telephone number is (720)940-2200. Our website address is www.arcabio.com. We do not incorporate the information on our website into this prospectus or accompanying prospectus, and you should not consider it part of this prospectus or accompanying prospectus. For further information regarding us and our financial information, you should refer to our recent filings with the SEC. See “Where You Can Find More Information” and “Incorporation of Certain Information by Reference.”
Each of ARCA, ARCA biopharma, Gencaro and Gencaro Test is a registered trademark of ARCA biopharma, Inc. Each of the other trademarks, trade names or service marks appearing in this prospectus and accompanying prospectus belongs to its respective holder.
S-2.
Common Stock Offered By Us | Shares of our common stock having an aggregate offering price of up to $6,409,830. | |
Common Stock to be Outstanding After this Offering | 11,646,298 shares, based on an assumed offering price of $2.50 per share, the last reported sale price of our common stock on the Exchange on April 24, 2017. | |
Manner of Offering | “At the market offering” that may be made from time to time through our sales agent, JonesTrading. See “Plan of Distribution” on pageS-12 of this prospectus. | |
Use of Proceeds | We currently intend to use the net proceeds from the sale of the securities under this prospectus for general corporate purposes, including clinical trials, research and development expenses and general and administrative expenses. See “Use of Proceeds” on pageS-9 of this prospectus. | |
Risk Factors | Investing in our common stock involves significant risks. See “Risk Factors” on pageS-4 of this prospectus and under similar headings in the accompanying prospectus and any accompanying prospectus supplement and the other documents incorporated by reference into this prospectus. | |
NASDAQ Capital Market Symbol | “ABIO” |
The above discussion and table are based on 9,082,366 shares of our common stock outstanding as of December 31, 2016 and excludes:
S-3.
Investing in our common stock involves significant risks, some of which are described below. You should carefully consider these risks, as well as the other information in this prospectus, accompanying prospectus and any accompanying prospectus supplement and any free writing prospectus authorized in connection with this offering, including documents incorporated by reference, such as our most recent Annual Report on Form10-K and Quarterly Report on Form10-Q filed with the SEC, and in other documents that we have filed or subsequently file with the SEC that are incorporated by reference, before deciding whether to invest in our common stock. Each of the risk factors could adversely affect our business, operating results and financial condition, as well as adversely affect the value of an investment in our securities, and the occurrence of any of these risks might cause you to lose all or part of your investment. Additional risks not presently known to us or that we currently believe are immaterial may also significantly impair our business operations. Please also read carefully the section below titled “Forward-Looking Statements.”
Additional Risks Related to this Offering
If you purchase our common stock in this offering, you may incur immediate dilution in the book value of your investment.
The offering price per share in this offering may exceed the net tangible book value per share of our common stock outstanding prior to this offering. Assuming that an aggregate of 2,563,932 shares of our common stock are sold at a price of $2.50 per share, the last reported sale price of our common stock on the Exchange on April 24, 2017, for aggregate gross proceeds of $6,409,830, and after deducting commissions and estimated offering expenses payable by us, you would experience immediate dilution of $0.07 per share, representing the difference between our as adjusted net tangible book value per share as December 31, 2016 after giving effect to this offering and the assumed offering price. If we were to sell shares of our common stock in this offering at a price per share greater than our net tangible book value, it would result in dilution of your investment. The exercise of outstanding stock options and warrants or the settlement of outstanding restricted stock units would result in further dilution of your investment. See the section entitled “Dilution” below for a more detailed illustration of the dilution you may incur if you participate in this offering. Because the sales of the shares offered hereby will be made directly into the market or in negotiated transactions, the prices at which we sell these shares will vary and these variations may be significant. Purchasers of the shares we sell, as well as our existing shareholders, will experience significant dilution if we sell shares at prices significantly below the price at which they invested.
Future sales or the possibility of future sales of our common stock may depress the market price of our common stock.
Sales in the public market of substantial amounts of our common stock could depress prevailing market prices of our common stock. As of December 31, 2016, approximately 9.1 million shares of common stock were outstanding, and all of these shares are freely transferable without restriction or further registration under the Securities Act, except for shares held by our directors, officers and other affiliates and unregistered shares held bynon-affiliates. The sale of these additional shares, or the perception that such sales may occur, could depress the market price of our common stock.
As of December 31, 2016, approximately 3.7 million shares of our common stock were issuable upon the exercise of outstanding warrants. Once a warrant is exercised, if the shares of our common stock issued upon the exercise of any such warrant are not available for sale in the open market without further registration under the Securities Act, then the holder can arrange for the resale of shares either by invoking any applicable registration rights, causing the shares to be registered under the Securities Act and thus freely transferable, or by relying on an exemption to the Securities Act. For instance, in July 2015, we filed a registration statement on FormS-3 which registered for resale an aggregate of 2.4 million shares of our common stock issuable upon exercise of outstanding warrants. If these registration rights, or similar registration rights that may apply to securities we may issue in the future, are exercised, it could result in additional sales of our common stock in the market, which may have an adverse effect on our stock price.
S-4.
As of December 31, 2016, there were approximately 660,000 shares of our common stock which may be issued upon the exercise of outstanding stock options and the settlement of restricted stock units, and we anticipate that we will continue to issue stock option and restricted stock unit awards to our employees and consultants in the fiscal year ended December 31, 2017 and thereafter. If and when these options are exercised and these restricted stock units are vested, such shares will be available for sale in the open market without further registration under the Securities Act. The existence of these outstanding options and restricted stock units may negatively affect our ability to complete future equity financings at acceptable prices and on acceptable terms. The exercise of those options and settlement of the restricted stock units, and the prompt resale of shares of our common stock received, may also result in downward pressure on the price of our common stock.
In the absence of a significant strategic transaction, we will need to raise significant additional capital to finance the research, development and commercialization of Gencaro. If future securities offerings occur, they would dilute our current stockholders’ equity interests and could reduce the market price of our common stock.
We have implemented anti-takeover provisions that could discourage, prevent or delay a takeover, even if the acquisition would be beneficial to our stockholders.
Provisions of our certificate of incorporation and bylaws, as well as provisions of Delaware law, could make it more difficult for a third party to acquire us, even if doing so would benefit our stockholders. These provisions:
Specifically, our certificate of incorporation provides that all stockholder action must be effected at a duly called meeting and not by a written consent. The bylaws provide, however, that our stockholders may call a special meeting of stockholders only upon a request of stockholders owning at least 50% of our outstanding common stock. These provisions of our certificate of incorporation and bylaws could discourage potential acquisition proposals and could delay or prevent a change in control. We designed these provisions to reduce our vulnerability to unsolicited acquisition proposals and to discourage certain tactics that may be used in proxy fights. These provisions, however, could also have the effect of discouraging others from making tender offers for our shares. As a consequence, they also may inhibit fluctuations in the market price of our shares that could result from actual or rumored takeover attempts. Such provisions also may have the effect of preventing changes in our management.
We are permitted to issue shares of our preferred stock without stockholder approval upon such terms as our board of directors determines. Therefore, the rights of the holders of our common stock are subject to, and may be adversely affected by, the rights of the holders of our preferred stock that may be issued in the future. In addition, the issuance of preferred stock could have a dilutive effect on the holdings of our current stockholders.
We are subject to the Delaware anti-takeover laws regulating corporate takeovers. These anti-takeover laws prevent a Delaware corporation from engaging in a merger or sale of more than 10% of its assets with any stockholder, including all affiliates and associates of the stockholder, who owns 15% or more of the corporation’s outstanding voting stock, for three years following the date that the stockholder acquired 15% or more of the corporation’s stock unless:
S-5.
The provisions of our governing documents and current Delaware law may collectively:
Our management might apply the net proceeds from this offering in ways with which you do not agree and in ways that may impair the value of your investment.
We currently intend to use the net proceeds from the sale of the securities under this prospectus for general corporate purposes, including clinical trials, potentialin-licensing agreements, research and development expenses and general and administrative expenses. Our management has broad discretion as to the use of these proceeds and you will be relying on the judgment of our management regarding the application of these proceeds. We might apply these proceeds in ways with which you do not agree, or in ways that do not yield a favorable return. If our management applies these proceeds in a manner that does not yield a significant return, if any, on our investment of these net proceeds, it could compromise our ability to pursue our growth strategy and adversely affect the market price of our common stock.
S-6.
This prospectus, accompanying prospectus and any accompanying prospectus supplement, the documents incorporated by reference and any free writing prospectus that we have authorized for use in connection with this offering contain forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. These are based on our management’s current beliefs, expectations and assumptions about future events, conditions and results and on information currently available to us. Discussions containing these forward-looking statements may be found, among other places, in the Sections entitled “Business,” “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” incorporated by reference from our most recent Annual Report on Form10-K and Quarterly Reports on Form10-Q, as well as any amendments thereto, filed with the SEC.
Any statements in this prospectus, accompanying prospectus and any accompanying prospectus supplement or incorporated herein, about our expectations, beliefs, plans, objectives, assumptions or future events or performance are not historical facts and are forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. While we believe that we have a reasonable basis for each forward-looking statement contained in this prospectus, accompanying prospectus and any accompanying prospectus supplement, we caution you that these statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. As a result of these factors, we cannot assure you that the forward-looking statements in this prospectus, accompanying prospectus and any accompanying prospectus supplement or documents incorporated by reference will prove to be accurate. Furthermore, if our forward-looking statements prove to be inaccurate, the inaccuracy may be material. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by us or any other person that we will achieve our objectives and plans in any specified time frame, or at all. You should not place undue reliance on these forward-looking statements, which apply only as of the date of this prospectus. You should read this prospectus, accompanying prospectus, any accompanying prospectus supplement and the documents incorporated by reference completely and with the understanding that our actual future results may be materially different from what we expect.
These forward-looking statements include, but are not limited to, statements regarding:
S-7.
In some cases, you can identify forward-looking statements by the words “may,” “might,” “can,” “will,” “to be,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “objective,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “likely,” “continue” and “ongoing,” or the negative of these terms, or other comparable terminology intended to identify statements about the future, although not all forward-looking statements contain these words. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements.
You should refer to the “Risk Factors” section, or under similar heading, contained in this prospectus, accompanying prospectus, any accompanying prospectus supplement, the documents incorporated by reference and any related free writing prospectus for a discussion of important factors that may cause our actual results to differ materially from those expressed or implied by our forward-looking statements.
Except as required by law, we assume no obligation to update these forward-looking statements publicly, or to revise any forward-looking statements to reflect events or developments occurring after the date of this prospectus, even if new information becomes available in the future.
S-8.
Pursuant to the terms of the sales agreement, we may issue and sell shares of our common stock from time to time through JonesTrading, acting as sales agent. Because there is no minimum offering amount required as a condition to close this offering, the actual total public offering amount, commissions and proceeds to us, if any, are not determinable at this time. There can be no assurance that we will sell any shares under or fully utilize the sales agreement with JonesTrading as a source of financing.
We currently intend to use the net proceeds from the sale of the securities under this prospectus for general corporate purposes, including clinical trials, potentialin-licensing agreements, research and development expenses and general and administrative expenses. We may also use a portion of the net proceeds to invest in or acquire businesses or technologies that we believe are complementary to our own, although we have no current plans, commitments or agreements with respect to any acquisitions as of the date of this prospectus. Pending these uses, we will have broad discretion in the way that we use the net proceeds of this offering.
S-9.
Our net tangible book value as of December 31, 2016 was approximately 22.2 million, or $2.44 per share. Net tangible book value per share is determined by dividing our total tangible assets, less total liabilities, by the number of shares of our common stock outstanding as of December 31, 2016. Dilution with respect to net tangible book value per share represents the difference between the amount per share paid by purchasers of shares of common stock in this offering and the net tangible book value per share of our common stock immediately after this offering.
After giving effect to the sale of 2,563,932 shares of our common stock in this offering at an assumed offering price of $2.50 per share, the last reported sale price of our common stock on the Exchange on April 24, 2017, and after deducting estimated offering commissions and offering expenses payable by us, our as adjusted net tangible book value as of December 31, 2016 would have been approximately $28.3 million, or $2.43 per share. This represents an immediate decrease in net tangible book value of $0.01 per share to existing stockholders and immediate dilution of $0.07 per share to investors purchasing our common stock in this offering at the public offering price. The following table illustrates this dilution on a per share basis:
Assumed public offering price per share | $ | 2.50 | ||||||
Net tangible book value per share of as December 31, 2016 | $ | 2.44 | ||||||
Decrease in net tangible book value per share attributable to this offering | $ | 0.01 | ||||||
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As adjusted net tangible book value per share as of December 31, 2016, after giving effect to this offering | $ | 2.43 | ||||||
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Dilution per share to investors purchasing our common stock in this offering | $ | 0.07 | ||||||
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The above discussion and table are based on 9,082,366 shares of our common stock outstanding as of December 31, 2016 and excludes:
The table above assumes for illustrative purposes that an aggregate of 2,563,932 shares of our common stock are sold during the term of the sales agreement with JonesTrading at a price of $2.50 per share, the last reported sale price of our common stock on the Exchange on April 24, 2017, for aggregate gross proceeds of $6,409,830. The shares subject to the sales agreement with JonesTrading are being sold from time to time at various prices. An increase of $1.00 per share in the price at which the shares are sold from the assumed offering price of $2.50 per share shown in the table above, assuming all of our common stock in the aggregate amount of $6,409,830 during the term of the sales agreement with JonesTrading is sold at that price, would increase our adjusted net tangible book value per share after the offering to $2.59 per share and would increase the dilution in net tangible book value per share to new investors in this offering to $0.91 per share, after deducting commissions and estimated aggregate offering expenses payable by us. A decrease of $1.00 per share in the price at which the shares are sold from the assumed offering price of $2.50 per share shown in the table above, assuming all of our common stock in the aggregate amount of $6,409,830 during the term of the sales agreement with JonesTrading is sold at that price, would decrease our adjusted net tangible book value per share after the offering to $2.12 per share and would decrease the dilution in net tangible book value per share to new investors in this offering to $(0.62) per share, after deducting commissions and estimated aggregate offering expenses payable by us. This information is supplied for illustrative purposes only.
S-10.
To the extent that outstanding options or warrants outstanding as of December 31, 2016 have been or may be exercised or other shares issued, investors purchasing our common stock in this offering may experience further dilution. In addition, we may choose to raise additional capital due to market conditions or strategic considerations even if we believe we have sufficient funds for our current or future operating plans. To the extent that additional capital is raised through the sale of equity or convertible debt securities, the issuance of these securities could result in further dilution to our stockholders.
S-11.
We have entered into the sales agreement with JonesTrading, under which we may issue and sell shares of our common stock having an aggregate gross sales price of up to $7.3 million from time to time through JonesTrading acting as a sales agent. Sales of our common stock, if any, under this prospectus, accompanying prospectus and any accompanying prospectus supplement may be made in sales deemed to be “at the market offerings” as defined in Rule 415 promulgated under the Securities Act.
We had previously registered $7.3 million of our common stock issuable under the sales agreement pursuant to the Prior Registration Statement. As a result of the limitations discussed below and the current public float of our common stock, and in accordance with the terms of the sales agreement, we may offer and sell shares of our common stock having an aggregate offering price of up to $6,409,830 from time to time through JonesTrading. Pursuant to General Instruction I.B.6 of FormS-3, in no event will we sell securities registered on the registration statement of which this prospectus is a part in a public primary offering with a value exceeding more thanone-third of our public float in any12-month period if our public float, measured in accordance with such instruction, remains below $75.0 million. As of April 24, 2017, our public float was $19,893,524, which was calculated based on 7,506,990 shares of our outstanding common stock held bynon-affiliates as of April 24, 2017 at a price of $2.65 per share, which was the closing price of our common stock on the Exchange on March 24, 2017. As of the date hereof, we have sold $221,345 shares of our common stock pursuant to General Instruction I.B.6 of FormS-3 during the 12 calendar months prior to and including the date of this prospectus. Sales of the shares of common stock, if any, may be made on the Exchange at market prices and such other sales as agreed upon by us and JonesTrading. The sales agreement has previously been filed as an exhibit to our Current Report on Form8-K filed with the SEC on January 11, 2017.
Each time we wish to issue and sell common stock, we will notify JonesTrading of the number of shares to be issued, the dates on which such sales are anticipated to be made, any minimum price below which sales may not be made and other sales parameters as we deem appropriate. Once we have so instructed JonesTrading, unless JonesTrading declines to accept the terms of the notice, JonesTrading has agreed, subject to the terms and conditions of the sales agreement, to use its commercially reasonable efforts consistent with its normal trading and sales practices to sell such shares up to the amount specified on such terms. We may instruct JonesTrading not to sell shares of common stock if the sales cannot be effected at or above the price designated by us in any such instruction. We or JonesTrading may suspend the offering of shares of common stock being made through JonesTrading under the sales agreement upon proper notice to the other party.
We will pay JonesTrading commissions for its services in acting as agent in the sale of our common stock. JonesTrading may effect sales to or through dealers, and such dealers may receive compensation in the form of discounts, concessions or commissions from JonesTrading and/or purchasers of shares of common stock for whom they may act as agents or to whom they may sell as principal. JonesTrading will be entitled to compensation at a commission rate equal to 3.0% of the aggregate gross sales price of the shares sold. Because there is no minimum offering amount required as a condition to close this offering, the actual total public offering amount, commissions and proceeds to us, if any, are not determinable at this time. We have also agreed to reimburse JonesTrading for certain specified expenses, including the fees and disbursements of its legal counsel in an amount not to exceed $35,000, as provided in the sales agreement. We estimate that the total expenses for the offering, excluding compensation and reimbursements payable to JonesTrading under the terms of the sales agreement, will be approximately $100,000.
Settlement for sales of common stock will occur on the third business day following the date on which any sales are made, or on some other date that is agreed upon by us and JonesTrading in connection with a particular transaction, in return for payment of the net proceeds to us. There is no arrangement for funds to be received in an escrow, trust or similar arrangement.
In connection with the sale of the common stock on our behalf, JonesTrading may be deemed to be an “underwriter” within the meaning of the Securities Act and the compensation of JonesTrading may be deemed to be underwriting commissions or discounts. We have agreed to provide indemnification and contribution to JonesTrading against certain civil liabilities, including liabilities under the Securities Act.
S-12.
Our common stock is listed on the Exchange and trades under the symbol “ABIO.” The transfer agent of our common stock is Computershare Trust Company, N.A.
JonesTrading and/or its affiliates may in the future provide various investment banking and other financial services for us for which services they may in the future receive customary fees.
S-13.
The validity of the common stock offered by this prospectus will be passed upon by Cooley LLP, Broomfield, Colorado. Duane Morris LLP, Newark, New Jersey, is counsel for JonesTrading in connection with this offering.
The financial statements of ARCA biopharma, Inc. as of December 31, 2016 and 2015, and for each of the years in thetwo-year period ended December 31, 2016, have been incorporated by reference herein and in the registration statement in reliance upon the report of KPMG LLP, independent registered public accounting firm, incorporated by reference herein, and upon the authority of said firm as experts in accounting and auditing. The audit report covering the December 31, 2016, financial statements contains an explanatory paragraph that states that the Company’s recurring losses from operations and the need and uncertainty related to raising additional capital to fund its clinical development programs raises substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of that uncertainty.
WHERE YOU CAN FIND MORE INFORMATION
This prospectus and accompanying prospectus is part of a registration statement on FormS-3 we filed with the SEC. This prospectus does not contain all of the information set forth in the registration statement or the exhibits to the registration statement. For further information with respect to us and the securities we are offering under this prospectus and accompanying prospectus, we refer you to the registration statement and the exhibits and schedules filed as a part of the registration statement. Whenever a reference is made in this prospectus or accompanying prospectus to any of our contracts, agreements or other documents, the reference may not be complete and you should refer to the exhibits that are a part of the registration statement or the exhibits to the reports or other documents incorporated by reference into this prospectus and accompanying prospectus for a copy of such contract, agreement or other document. You should rely only on the information contained in this prospectus, accompanying prospectus, any accompanying prospectus supplement or incorporated by reference. We have not authorized anyone else to provide you with different information. We are not making an offer of these securities in any state where the offer is not permitted. You should not assume that the information in this prospectus, accompanying prospectus or any accompanying prospectus supplement is accurate as of any date other than the date on the front page of this prospectus, the date on the front page of the accompanying prospectus and the date on the front page of the applicable accompanying prospectus supplement, as applicable, regardless of the time of delivery of this prospectus, accompanying prospectus and any accompanying prospectus supplement or any sale of the securities offered by this prospectus, accompanying prospectus and any accompanying prospectus supplement.
We file annual, quarterly and current reports, proxy statements and other information with the SEC. You may read and copy the registration statement, as well as any other document filed by us with the SEC, at the SEC’s Public Reference Room at 100 F Street NE, Washington, D.C. 20549. You can also request copies of these documents by writing to the SEC and paying a fee for the copying cost. You may obtain information on the operation of the Public Reference Room by calling the SEC at(800) SEC-0330. The SEC maintains a website that contains reports, proxy statements and other information regarding issuers that file electronically with the SEC, including ARCA biopharma. The address of the SEC website is www.sec.gov.
We maintain a website at www.arcabio.com. Information contained in or accessible through our website does not constitute a part of this prospectus, the accompanying prospectus or any accompanying prospectus supplement.
INCORPORATION OF CERTAIN INFORMATION BY REFERENCE
The SEC allows us to “incorporate by reference” information from other documents that we file with it, which means that we can disclose important information to you by referring you to those documents. The information incorporated by reference is considered to be part of this prospectus and accompanying prospectus. Information in
S-14.
this prospectus and accompanying prospectus supersedes information incorporated by reference that we filed with the SEC prior to the date of this prospectus and accompanying prospectus, while information that we file later with the SEC will automatically update and supersede the information in this prospectus and accompanying prospectus. We incorporate by reference into this prospectus and the registration statement of which this prospectus is a part the information or documents listed below that we have filed with the SEC (Commission FileNo. 000-22873):
We also incorporate by reference any future filings (other than current reports furnished under Item 2.02 or Item 7.01 of Form8-K and exhibits filed on such form that are related to such items unless such Form8-K expressly provides to the contrary) made with the SEC pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act, including (i) those made after the date of the initial filing of the registration statement of which this prospectus is a part and prior to effectiveness of such registration statement, and (ii) those made after the date of this prospectus until we file a post-effective amendment that indicates the termination of the offering of the securities covered by this prospectus, and will become a part of this from the date that such documents are filed with the SEC. Information in such future filings updates and supplements the information provided in this prospectus and accompanying prospectus. Any statements in any such future filings will automatically be deemed to modify and supersede any information in any document we previously filed with the SEC that is incorporated or deemed to be incorporated herein by reference to the extent that statements in the later filed document modify or replace such earlier statements.
We will furnish without charge to you, on written or oral request, a copy of any or all of the documents incorporated by reference, including exhibits to these documents. You should direct any requests for documents to ARCA biopharma, Inc., Attention: Secretary, 11080 CirclePoint Road, Suite 140, Westminster, Colorado 80020. Our phone number is (720)940-2200. In addition, all of the documents incorporated by reference into this prospectus and accompanying prospectus may be accessed via the Internet at our website: http://www.arcabio.com.
This prospectus is part of a registration statement we filed with the SEC. That registration statement and the exhibits filed along with the registration statement contain more information about us and the shares in this offering. Because information about documents referred to in this prospectus and accompanying prospectus is not always complete, you should read the full documents which are filed as exhibits to the registration statement. You may read and copy the full registration statement and its exhibits at the SEC’s public reference rooms or its website.
S-15.
$6,409,830
Common Stock
Prospectus
JonesTrading
, 2017
PART II
INFORMATION NOT REQUIRED IN THE PROSPECTUS
Item 14. | Other Expenses of Issuance and Distribution |
The following table sets forth an itemization of all estimated expenses other than the estimated costsunderwriting discounts and expensescommissions, payable by us other than the placement agent fees and expenses payable by the Registrant, in connection with the saleissuance and distribution of the common stocksecurities being registered. All the amounts shown are estimates, except for the SEC registration fee and the FINRA filing fee.
Amount Paid or to be Paid | ||||
SEC registration fee | $ | 7,451 | ||
Legal fees and expenses | 150,000 | |||
Accounting fees and expenses | 20,000 | |||
Miscellaneous expenses | 152,549 | |||
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Total | $ | 330,000 | ||
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. | Amount to be Paid by Registrant | |||
SEC Registration Fee | $ | 9,657 | (1) | |
FINRA Filing Fee | 12,283 | (2) | ||
Legal Fees and Expenses | * | |||
Accounting Fees and Expenses | * | |||
Printing Fees | * | |||
Transfer Agent and Registrar Fees | * | |||
Miscellaneous Expenses | * | |||
Total | * |
* | The amount of securities and number of offerings are indeterminable and the expenses cannot be estimated at this time. |
(1) | This amount is inclusive of $9,632 previously paid by us in connection with our registration statement on FormS-3 filed with the SEC on April 4, 2014 (FileNo. 333-195054). |
(2) | This amount is inclusive of $11,750 previously paid by us in connection with our prospectus supplement filed with the SEC pursuant to Rule 424(b)(5) of the Securities Act on January 11, 2017. |
Item 15. | Indemnification of Directors and Officers |
Section 145 of the Delaware General Corporation Law permits indemnification of officers, directors and other corporate agents under certain circumstances and subject to certain limitations. Our amendedRestated Certificate and restated certificate of incorporation and amended and restated bylawsBylaws provide that we will indemnify itsour directors, officers, employees and agents to the full extent permitted by the Delaware General Corporation Law, including in circumstances in which indemnification is otherwise discretionary under Delaware law. In addition, we have entered into indemnification agreements with our directors and officers that require us, among other things, to indemnify them against certain liabilities that may arise by reason of their status or service (other than liabilities arising from willful misconduct of a culpable nature). The indemnification provisions in our amendedRestated Certificate and restated certificate of incorporation and amended and restated bylawsBylaws and the indemnification agreements entered into between us and our directors may be sufficiently broad to permit indemnification of our officers and directors for liabilities (including reimbursement of expenses incurred) arising under the Securities Act of 1933, as amended.Act. We also maintain director and officer liability insurance to insure our directors and officers against the cost of defense, settlement or payment of a judgment under certain circumstances. Insofar as
II-1.
The underwriting agreement that we may enter into, which is Exhibit 1.1 to this registration statement, may provide for indemnification by any of our underwriters, our board of directors, our officers who sign the registration statement and our controlling persons for some liabilities, including liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling us pursuant to the foregoing provisions, we have been informed that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.
Item 16. | Exhibits |
The list of exhibits is set forth under “Exhibit Index” at the end of this registration statement and is incorporated herein by reference.
Incorporated by Reference | ||||||||||||
Exhibit No. | Description | Form | Filing Date | Number | Filed Herewith | |||||||
2.1 | Agreement and Plan of Merger and Reorganization, dated September 24, 2008, among Nuvelo, Inc., Dawn Acquisition Sub, Inc. and ARCA biopharma, Inc. | 8-K | * | 9/25/2008 | 2.1 | |||||||
2.2 | Amendment No. 1 to Agreement and Plan of Merger and Reorganization, dated October 28, 2008, by and among Nuvelo, Inc., Dawn Acquisition Sub, Inc. and ARCA biopharma, Inc. | 8-K | * | 10/29/2008 | 2.5 | |||||||
4.1 | Form of Common Stock Certificate. | 8-K | 1/28/2009 | 4.1 | ||||||||
4.2 | Warrant to Purchase Stock Agreement, dated July 17, 2007, by and between ARCA Discovery, Inc. and Silicon Valley Bank. | 10-K | 3/27/2009 | 4.3 | ||||||||
4.3 | Amendment No. 1 to Warrant to Purchase Stock Agreement, dated February 19, 2009, by and between ARCA biopharma, Inc. and SVB Financial Group. | 10-K | 3/27/2009 | 4.4 | ||||||||
4.4 | Warrant to Purchase Stock Agreement, dated August 19, 2008, by and between ARCA biopharma, Inc. and Silicon Valley Bank. | 10-K | 3/27/2009 | 4.5 | ||||||||
4.5 | Amendment No. 1 to Warrant to Purchase Stock Agreement, dated February 19, 2009, by and between ARCA biopharma, Inc. and SVB Financial Group. | 10-K | 3/27/2009 | 4.6 |
Exhibit No. Description Form Filing Date Number Filed Herewith Incorporated by Reference 4.6 Warrant to Purchase Stock Agreement, dated October 18, 2009, by and between ARCA biopharma, Inc. and BioMed Realty, L.P. 10-K 3/4/2010 4.19 4.7 Form of Common Stock Purchase Warrant. 8-K 4/18/2011 4.1 4.8 Form of Warrant to Purchase Common Stock. 8-K 12/22/2011 4.1 4.9 Form of Common Stock Purchase Warrant. 8-K 8/3/2012 4.1 4.10 Form of Warrants to Purchase Shares of Common Stock, dated October 22, 2012. 8-K 10/23/2012 4.1 4.11 Form of Warrants to Purchase Shares of Common Stock, dated December 20, 2012. 8-K 12/19/2012 4.1 4.12 Form of Warrants to Purchase Shares of Common Stock. 8-K 1/23/2013 4.1 4.13 Form of Common Stock Purchase Warrant. 8-K 2/1/2013 4.1 4.14 Form of Warrant Agency Agreement by and between ARCA biopharma, Inc. and Computershare Trust Company, N.A. dated May 31, 2013. S-1/A 5/15/2013 4.1 4.15 Form of Common Stock Purchase Warrant. S-1/A 5/15/2013 4.3 4.16 Form of Common Stock Purchase Warrant. 8-K 2/4/2014 4.1 4.17 Warrant Agency Agreement by and among ARCA biopharma, Inc., Computershare Inc. and Computershare Trust Company, N.A. dated February 3, 2014. 8-K 2/4/2014 4.3
Exhibit No. Description Form Filing Date Number Filed Herewith Incorporated by Reference 4.18 Form of Warrant to Purchase Shares of Common Stock. 8-K 6/11/2015 4.1 4.19 Form of Warrant to Purchase Shares of Common Stock. 8-K 6/11/2015 4.2 5.1 Opinion of Cooley LLP as to legality X 23.1 Consent of KPMG LLP, Independent Registered Public Accounting Firm. X 23.2 Consent of Cooley LLP (included in Exhibit 5.1). X 24.1 Power of Attorney (included in the signature page hereto). X
Item 17. | Undertakings |
The undersigned Registrantregistrant hereby undertakes:
(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:
(i) to include any prospectus required by Section 10(a)(3) of the Securities Act;
(ii) to reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20 percent change in the maximum aggregate offering price set forth in the “Calculation of Registration Fee” table in the effective registration statement; and
(iii) to include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement;
provided, however,that subparagraphs paragraphs (1)(i), (1)(ii) and (1)(iii) aboveof this section do not apply if the registration statement is on FormS-3 or FormF-3 and the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the SECCommission by the Registrantregistrant pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 as amended, or the Exchange Act, that are incorporated by reference in the registration statement, or is contained in a form of prospectus filed pursuant to Rule 424(b) that is part of the registration statement.
(2) That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initialbona fide offering thereof.
(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
(4) That, for the purpose of determining liability under the Securities Act to any purchaser:
(i) Each prospectus filed by the registrant pursuant to Rule 424(b)(3) shall be deemed to be part of the registration statement as of the date the filed prospectus was deemed part of and included in the registration statement; and
(ii) Each prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5), or (b)(7) as part of a registration statement in reliance on Rule 430B relating to an offering made pursuant to Rule 415(a)(1)(i), (vii), or (x) for the purpose of providing the information required by Section 10(a) of the Securities Act shall be deemed to be part of and included in the registration statement as of the earlier of the date such form of prospectus is first used after effectiveness or the date of the first contract of sale of securities in the offering described in the prospectus. As
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provided in Rule 430B, for liability purposes of the issuer and any person that is at that date an underwriter, such date shall be deemed to be a new effective date of the registration statement relating to the securities in the registration statement to which that prospectus relates, and the offering of such securities at that time shall be deemed to be the initialbona fide offering thereof.Provided,however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such effective date, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such effective date.
(5) That, for purposesthe purpose of determining liability of the registrant under the Securities Act to any purchaser in the initial distribution of the securities, the undersigned registrant undertakes that in a primary offering of securities of the undersigned registrant pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:
(i) Any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule 424;
(ii) Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant;
(iii) The portion of any other free writing prospectus relating to the offering containing material information about the undersigned registrant or its securities provided by or on behalf of the undersigned registrant; and
(iv) Any other communication that is an offer in the offering made by the undersigned registrant to the purchaser.
(6) That, for the purpose of determining liability of the registrant under the Securities Act, each filing of the registrant’s annual report pursuant to sectionSection 13(a) or sectionSection 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan’s annual report pursuant to section 15(d) of the Securities Exchange Act)Act of 1934) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered herein,therein, and the offering of such securities at that time shall be deemed to be the initialbona fide offering thereof.
(7) That, for purposes of determining any liability under the Securities Act:
(i) the information omitted from the form of prospectus filed as part of the registration statement in reliance upon Rule 430A and contained in the form of prospectus filed by the registrant pursuant to Rule 424(b)(l) or (4) or 497(h) under the Securities Act shall be deemed to be a part of this registration statement as of the time it was declared effective; and
(ii) each post-effective amendment that contains a form of prospectus shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initialbona fideoffering thereof.
(8) To file an application for the purpose of determining the eligibility of the trustee to act under subsection (a) of Section 310 of the Trust Indenture Act in accordance with the rules and regulations prescribed by the Commission under Section 305(b)(2) of the Trust Indenture Act.
Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrantregistrant pursuant to the foregoing provisions, of Item 15 above, or otherwise, the Registrantregistrant has been advised that in the opinion of the SECSecurities and Exchange Commission such indemnification is against public policy
II-3.
as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrantregistrant of expenses incurred or paid by a director, officer or controlling person of the Registrantregistrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrantregistrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
II-4.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, the registrantRegistrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on FormS-3 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the city of Westminster, State of Colorado, on the 7th day of July 2015.April 25, 2017.
ARCA | ||
By: |
| |
Michael R. Bristow President and Chief Executive Officer |
POWER OF ATTORNEY
EachKNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Michael R. Bristow and Brian L. Selby, and each of them, aswith full power of substitution and full power to act without the other, his or her true and lawfulattorney-in-fact and agent each acting alone, with full power of substitution and resubstitution,to act for him or her and in his or her name, place and stead, in any and all capacities, to sign any orand all amendments (includingpre-effective and post-effective amendments) to thethis Registration Statement, on Form S-3,and to sign any registration statement for the same offering covered by this Registration Statement that is to be effective upon filing pursuant to Rule 462 under the Securities Act of 1933, as amended, and to file each of the same, with all exhibits thereto, and allother documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorney-in-factattorneys-in-fact and agent,agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises in order to effectuate the same as fully, to all intents and purposes, as they, he or she might or could do in person, hereby ratifying and confirming all that said attorney-in-factattorneys-in-fact and agent,agents, or his or her substitute or substitutes,any of them, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statementRegistration Statement has been signed by the following persons in the capacities and on the dates indicated.
| Title | Date | ||
/s/ Michael R. Bristow Michael R. Bristow | President and Chief Executive Officer and Director, (Principal Executive Officer) | |||
April 25, 2017 | ||||
/s/ Brian L. Selby Brian L. Selby | Vice President, Finance | |||
Accounting Officer) | April 25, 2017 | |||
/s/ Linda Grais Linda Grais | Director | |||
April 25, 2017 | ||||
/s/ Raymond Woosley Raymond Woosley | Director | |||
April 25, 2017 | ||||
/s/ Robert Conway Robert Conway | Director | |||
April 25, 2017 | ||||
/s/ Daniel Mitchell Daniel Mitchell | Director | |||
/s/ Anders Hove Anders Hove | Director | April 25, 2017 |
EXHIBITEXHIBITS INDEX
Incorporated by Reference | ||||||||||
Exhibit No. | Description | Form | Filing Date | Number | Filed Herewith | |||||
2.1 | Agreement and Plan of Merger and Reorganization, dated September 24, 2008, among Nuvelo, Inc., Dawn Acquisition Sub, Inc. and ARCA biopharma, Inc. | 8-K* | 9/25/2008 | 2.1 | ||||||
2.2 | Amendment No. 1 to Agreement and Plan of Merger and Reorganization, dated October 28, 2008, by and among Nuvelo, Inc., Dawn Acquisition Sub, Inc. and ARCA biopharma, Inc. | 8-K* | 10/29/2008 | 2.5 | ||||||
4.1 | Form of Common Stock Certificate. | 8-K | 1/28/2009 | 4.1 | ||||||
4.2 | Warrant to Purchase Stock Agreement, dated July 17, 2007, by and between ARCA Discovery, Inc. and Silicon Valley Bank. | 10-K | 3/27/2009 | 4.3 | ||||||
4.3 | Amendment No. 1 to Warrant to Purchase Stock Agreement, dated February 19, 2009, by and between ARCA biopharma, Inc. and SVB Financial Group. | 10-K | 3/27/2009 | 4.4 | ||||||
4.4 | Warrant to Purchase Stock Agreement, dated August 19, 2008, by and between ARCA biopharma, Inc. and Silicon Valley Bank. | 10-K | 3/27/2009 | 4.5 | ||||||
4.5 | Amendment No. 1 to Warrant to Purchase Stock Agreement, dated February 19, 2009, by and between ARCA biopharma, Inc. and SVB Financial Group. | 10-K | 3/27/2009 | 4.6 | ||||||
4.6 | Warrant to Purchase Stock Agreement, dated October 18, 2009, by and between ARCA biopharma, Inc. and BioMed Realty, L.P. | 10-K | 3/4/2010 | 4.19 | ||||||
4.7 | Form of Common Stock Purchase Warrant. | 8-K | 4/18/2011 | 4.1 | ||||||
4.8 | Form of Warrant to Purchase Common Stock. | 8-K | 12/22/2011 | 4.1 | ||||||
4.9 | Form of Common Stock Purchase Warrant. | 8-K | 8/3/2012 | 4.1 | ||||||
4.10 | Form of Warrants to Purchase Shares of Common Stock, dated October 22, 2012. | 8-K | 10/23/2012 | 4.1 |
Incorporated by Reference | ||||||||||||
Exhibit No. | Description | Form | Filing Date | Number | Filed Herewith | |||||||
4.11 | Form of Warrants to Purchase Shares of Common Stock, dated December 20, 2012. | 8-K | 12/19/2012 | 4.1 | ||||||||
4.12 | Form of Warrants to Purchase Shares of Common Stock. | 8-K | 1/23/2013 | 4.1 | ||||||||
4.13 | Form of Common Stock Purchase Warrant. | 8-K | 2/1/2013 | 4.1 | ||||||||
4.14 | Form of Warrant Agency Agreement by and between ARCA biopharma, Inc. and Computershare Trust Company, N.A. dated May 31, 2013. | S-1/A | 5/15/2013 | 4.1 | ||||||||
4.15 | Form of Common Stock Purchase Warrant. | S-1/A | 5/15/2013 | 4.3 | ||||||||
4.16 | Form of Common Stock Purchase Warrant. | 8-K | 2/4/2014 | 4.1 | ||||||||
4.17 | Warrant Agency Agreement by and among ARCA biopharma, Inc., Computershare Inc. and Computershare Trust Company, N.A. dated February 3, 2014. | 8-K | 2/4/2014 | 4.3 | ||||||||
4.18 | Form of Warrant to Purchase Shares of Common Stock. | 8-K | 6/11/2015 | 4.1 | ||||||||
4.19 | Form of Warrant to Purchase Shares of Common Stock. | 8-K | 6/11/2015 | 4.2 | ||||||||
5.1 | Opinion of Cooley LLP as to legality | X | ||||||||||
23.1 | Consent of KPMG LLP, Independent Registered Public Accounting Firm. | X | ||||||||||
23.2 | Consent of Cooley LLP (included in Exhibit 5.1). | X | ||||||||||
24.1 | Power of Attorney (included in the signature page hereto). | X |
Incorporated by Reference | ||||||||||||||||||
Exhibit No. | Description | Form | Filing Date | Number | Filed Herewith | |||||||||||||
1.1* | Form of Underwriting Agreement | |||||||||||||||||
3.1 | Amended and Restated Certificate of Incorporation of the Registrant, as amended. | 10-K | 3/27/2009 | 3.1 | ||||||||||||||
3.1(a) | Certificate of Amendment to Restated Certificate of Incorporation. | 8-K | 3/5/2013 | 5.1 | ||||||||||||||
3.1(b) | Certificate of Amendment to Restated Certificate of Incorporation. | 8-K | 9/3/2015 | 3.1 | ||||||||||||||
3.2 | Second Amended and Restated Bylaws of the Registrant, as amended. | 10-Q | 11/16/2009 | 3.2 | ||||||||||||||
4.1 | Form of Common Stock Certificate. | 8-K | 1/28/2009 | 4.1 | ||||||||||||||
4.2* | Specimen Preferred Stock Certificate and Form of Certificate of Designation of Preferred Stock | |||||||||||||||||
4.3 | Form of Indenture | X | ||||||||||||||||
4.4 | Form of Common Stock Warrant Agreement and Warrant Certificate | X | ||||||||||||||||
4.5 | Form of Preferred Stock Warrant Agreement and Warrant Certificate | X | ||||||||||||||||
4.6 | Form of Debt Securities Warrant Agreement and Warrant Certificate | X | ||||||||||||||||
4.7* | Form of Note | |||||||||||||||||
5.1 | Opinion of Cooley LLP | X | ||||||||||||||||
10.1 | Capital on DemandTM Sales Agreement, dated January 11, 2017, by and between the Registrant and JonesTrading Institutional Services LLC. | 8-K | 1/11/2017 | 10.1 | ||||||||||||||
23.1 | Consent of KPMG LLP, Independent Registered Public Accounting Firm | X | ||||||||||||||||
23.2 | Consent of Cooley LLP (included in Exhibit 5.1) | X | ||||||||||||||||
24.1 | Power of Attorney (included on the signature page hereto) | |||||||||||||||||
25.1** | Statement of Eligibility of Trustee under the Indenture |
* |
** | To be filed separately under electronic form type 305B2, if applicable. |