NEW YORK, April 8, 2014 (GLOBE NEWSWIRE) -- Ohr Pharmaceutical, Inc. (Nasdaq:OHRP), a pharmaceutical company focused on the development of novel therapeutics for large unmet medical needs, today announced that it has entered into subscription agreements with institutional and accredited investors for the sale of its common stock in a registered direct offering. The Company is selling 1.8 million shares of common stock at a price of $10.00 per share, for gross proceeds of approximately $18 million. Chardan Capital Markets, LLC acted as lead placement agent and Brean Capital, LLC acted as co-placement agent for the offering. The sale and issuance of the shares is expected to close on or about April 11, 2014.
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