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Feb 12, 2021 (Investor Brand Network via COMTEX) — KemPharm (NASDAQ: KMPH), a specialty pharmaceutical company focused on the discovery and development of proprietary prodrugs, has closed an underwritten public offering of 8,066,342 shares of its common stock (or pre-funded warrants to purchase common stock in lieu thereof) and accompanying warrants to purchase up to 8,066,342 shares of common stock. According to the update, this includes 374,035 additional shares of common stock and warrants pursuant to the partial exercise of the over-allotment option granted to the underwriters. KemPharm secured approximately $52.4 million in gross proceeds, with the shares of common stock (or pre-funded warrant in lieu thereof) sold together with one warrant to purchase one share of common stock at a combined public offering price of $6.50. In connection with the offering, the company’s common stock was approved for listing and began trading on the Nasdaq Capital Market under the symbol “KMPH” on Jan. 8, 2021. In addition, on Jan. 26, 2021, KemPharm entered into warrant exercise inducement offer letters with certain holders of existing warrants. The resulting gross proceeds to KemPharm from the transaction were approximately $44.0 million. ROTH Capital Partners acted as sole manager for the follow-on offering and as sole placement agent for the warrant exchange transaction.

For more information, visit www.KemPharm.com.

About KemPharm

KemPharm is a specialty pharmaceutical company focused on the discovery and development of proprietary prodrugs to treat serious medical conditions through its proprietary LAT(R) (Ligand Activated Therapy) technology. KemPharm utilizes its proprietary LAT(R) technology to generate improved prodrug versions of FDA-approved drugs as well as to generate prodrug versions of existing compounds that may have applications for new disease indications. KemPharm’s prodrug product candidate pipeline is focused on the high need areas of attention deficit hyperactivity disorder (“ADHD”) and stimulant use disorder. KemPharm’s co-lead clinical development candidates for the treatment of ADHD, KP415 and KP484, are both based on a prodrug of d-methylphenidate, but have differing duration / effect profiles. In addition, KemPharm has received FDA approval for APADAZ(R), an immediate-release combination product containing benzhydrocodone, a prodrug of hydrocodone, and acetaminophen.

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COMTEX_380757926/2557/2021-02-12T12:59:41

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