Pieris Pharma Prices 9,090,909 Shares At $2.75/Share

Pieris Pharmaceuticals, Inc.

, a biotechnology company advancing its proprietary Anticalin® biotherapeutic technologies, today announced the pricing of a public offering of 9,090,909 shares of its common stock at a public offering price of $2.75 per share. All shares of common stock are being offered by the company. In addition, Pieris has granted the underwriters a 30-day option to purchase up to an additional 1,363,636 shares of common stock at the same price to cover any over-allotments. The net proceeds to Pieris from this offering are expected to be approximately $22.7M, after deducting underwriting discounts and commissions and other estimated offering expenses. Pieris intends to use the net proceeds from this offering to fund research and development, including preclinical and clinical research and development of its drug candidates, working capital and general corporate purposes. The shares are expected to begin trading on the NASDAQ Capital Market today, June 30, 2015, under the symbol "PIRS." The offering is expected to close on July 6, 2015, subject to customary closing conditions. Oppenheimer & Co. and JMP Securities are acting as joint book-running managers for the offering. Roth Capital Partners and Trout Capital are acting as co-managers for the offering. A registration statement relating to the securities being sold in this offering was declared effective by the Securities and Exchange Commission (SEC) on June 30, 2015. A final prospectus relating to the offering will be filed with the SEC and will be available on the website of the SEC at www.sec.gov. Copies of the final prospectus may also be obtained, when available, from Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, NY 10004, telephone: (212) 667-8563, EquityProspectus@opco.com or JMP Securities LLC, Prospectus Department, 600 Montgomery Street, 10th Floor, San Francisco, CA 94111, telephone: (415) 835-8985. This press release shall not constitute an offer to sell or a 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.