On March 1, 2021 ASLAN Pharmaceuticals (Nasdaq: ASLN), a clinical-stage immunology focused biopharmaceutical company developing innovative treatments to transform the lives of patients, reported that it has commenced an underwritten public offering of $60.0 million of its American Depositary Shares ("ADSs") representing ordinary shares (Press release, ASLAN Pharmaceuticals, MAR 1, 2021, View Source [SID1234576097]). In addition, ASLAN expects to grant the underwriters a 30-day option to purchase up to an additional $9.0 million of ADSs in the public offering on the same terms and conditions. All ADSs to be sold in the offering will be offered by ASLAN. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering.

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ASLAN expects to use the net proceeds from the offering, together with its existing cash and cash equivalents, primarily to fund its planned ASLAN004 Phase 2b dose-range finding trial in moderate-to-severe atopic dermatitis patients. ASLAN is also required to repay $2.25 million of principal amount plus accrued and unpaid interest under its loan facilities entered into in October and November 2019 with the net proceeds from this offering. The remainder of the net proceeds, if any, will be used to fund new and other ongoing research and development activities, working capital and other general corporate purposes.

Jefferies LLC and Piper Sandler & Co. are acting as joint book-running managers for the offering.

The securities described above are being offered by ASLAN pursuant to a shelf registration statement on Form F-3, including a base prospectus, that was previously filed by ASLAN with the Securities and Exchange Commission (the "SEC") and that was declared effective on February 11, 2021. A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available for free on the SEC’s website located at View Source Before you invest, you should read the preliminary prospectus supplement and accompanying prospectus and other documents we have filed with the SEC for more complete information about us and this offering. An electronic copy of the preliminary prospectus supplement and the accompanying prospectus relating to the offering, when available, may be obtained by contacting Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by e-mail at [email protected] or by telephone at (877) 821-7388; or Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, or by telephone at 800-747-3924 or by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.