Coronado Biosciences Announces Sale of Common Stock in Its At-the-Market Public Offering

Coronado Biosciences Announces Sale of Common Stock in Its At-the-Market
Public Offering

BURLINGTON, Mass., April 11, 2013 (GLOBE NEWSWIRE) -- Coronado Biosciences,
Inc. (Nasdaq:CNDO), a biopharmaceutical company focused on the development of
novel immunotherapy biologic agents for the treatment of autoimmune diseases
and cancer, announced today that it has sold through its at-the-market program
1,000,000 shares of its common stock to Jennison Associates LLC (on behalf of
fund clients) at yesterday's closing price of $10.12. MLV & Co., located in
New York City, acted as the sales agent for the sale. The net proceeds to the
Company from this at-the-market sale are approximately $9.9 million after
deducting commissions.

The Company also announced that, in addition to the sale to Jennison
Associates LLC, since March 13, 2013, it has sold an aggregate of 788,431
additional shares of its common stock under its at-the-market issuance program
managed by MLV & Co. for net proceeds of approximately $7.6 million. The
Company has sold an aggregate of 3,218,042 shares for net proceeds of
approximately $28.0 million under its at-the-market program.

The Company intends to use net proceeds from its at-the-market offering for
general corporate purposes, which may include research and development
expenditures, clinical trial expenditures, manufacture and supply of product
and working capital. Pending any specific application, the Company may
initially invest funds in short-term marketable securities or savings
accounts.

The offering was made pursuant to a registration statement that the Company
previously filed with, and was declared effective by, the Securities and
Exchange Commission (the "SEC"). This press release does not constitute an
offer to sell or the solicitation of an offer to buy any securities of the
Company, nor shall there be any sale of these securities in any state or
jurisdiction in which such an offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any such
state or jurisdiction.

About Coronado Biosciences

Coronado Biosciences is engaged in the development of novel immunotherapy
biologic agents. The company's two principal pharmaceutical product candidates
in clinical development are: TSO (Trichuris suis ova or CNDO-201), a biologic
for the treatment of autoimmune diseases, such as Crohn's disease, ulcerative
colitis and multiple sclerosis; and CNDO-109, a biologic that activates
natural killer (NK) cells, for the treatment of acute myeloid leukemia (AML),
multiple myeloma and solid tumors. For more information, please visit
www.coronadobiosciences.com.

The Coronado Biosciences, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=13033

Forward-Looking Statements

This press release may contain "forward-looking statements" within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Such statements include, but are not limited to, any
statements relating to the company's product development programs and any
other statements that are not historical facts. Forward-looking statements are
based on management's current expectations and are subject to risks and
uncertainties that could negatively affect our business, operating results,
financial condition and stock price. Factors that could cause actual results
to differ materially from those currently anticipated risks relating to the
results of research and development activities, uncertainties relating to
preclinical and clinical testing, our ability to attract, integrate and retain
key personnel, financing and strategic agreements and relationships, the early
stage of products under development, our need for substantial additional
funds, government regulation, patent and intellectual property matters; our
dependence on third party suppliers and competition, as well as other risks
described in our SEC filings.We expressly disclaim any obligation or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change in our
expectations or any changes in events, conditions or circumstances on which
any such statement is based, except as required by law.

CONTACT: Lucy Lu, MD, Executive Vice President &
         Chief Financial Officer
         Coronado Biosciences, Inc.
         781-652-4525; ir@coronadobio.com
        
         Marcy Nanus, Vice President
         The Trout Group, LLC.
         646-378-2927; mnanus@troutgroup.com
        
         Susan Forman
         Dian Griesel Inc.
         212-825-3210; susan@dgicomm.com

Coronado Biosciences logo
 
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