 Thorofare, New Jersey, Aug. 11, 2020 GLOBE NEWSWIRE -- Akers Biosciences, Inc. the Company NASDAQ: AKER, today announced that it has entered into definitive agreements with several institutional and accredited investors for the purchase and sale of 1,207,744 shares of the Companys common stock, at a purchase price of 5.67 per share, in a registered direct offering priced at-the-market under Nasdaq rules. The closing of the offering is expected to occur on or about August 13, 2020, subject to the satisfaction of customary closing conditions. H.C. Wainwright Co. is acting as the exclusive placement agent for the offering.The gross proceeds to the Company from this offering are expected to be approximately 6.8 million, before deducting the placement agents fees and other offering expenses payable by the Company.The shares of common stock are being offered by the Company pursuant to a shelf registration statement on Form S-3 File No. 333-234449 previously filed with the Securities and Exchange Commission the SEC on November 1, 2019, and declared effective by the SEC on April 7, 2020. The offering of the securities is made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying prospectus relating to the securities being offered will be filed with the SEC. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained, when available, on the SECs website at or by contacting H.C. Wainwright Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at 646 975-6996 or e-mail at press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.About Akers Biosciences Inc.Akers Biosciences is pursuing the development of a newly acquired license to a coronavirus vaccine candidate.Forward-Looking Statements Certain statements in this press release that are forward-looking and not statements of historical fact are forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements of historical fact, and may be identified by words such as anticipates, assumes, believes, can, could, estimates, expects, forecasts, guides, intends, is confident that, may, plans, seeks, projects, targets, and would, and their opposites and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are based on the beliefs of management as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including, but not limited to, our ability to complete of the registered direct offering, the satisfaction of customary closing conditions related to the registered direct offering, market and other conditions, changes in the market acceptance of the companys products and services; challenges we may face in identifying, acquiring and operating new business opportunities; the outcome of litigation or other proceedings to which the company is subject or which it may become subject to in the future; increased levels of competition; changes in political, economic or regulatory conditions generally and in the markets in which the company operates; the companys ability to retain and attract senior management and other key employees; the companys ability to quickly and effectively respond to new technological developments; the companys ability to protect its trade secrets or other proprietary rights, operate without infringing upon the proprietary rights of others and prevent others from infringing on the companys proprietary rights; the companys ability to achieve the expected benefits and costs of the transactions related to the acquisition of Cystron Biotech, LLC, including, the timing of, and the companys ability to, obtain and maintain regulatory approvals for clinical trials of the companys vaccine product candidate, the timing and results of the companys planned clinical trials for its vaccine product candidate, the amount of funds the company requires for its vaccine product candidate, and the companys ability to maintain its license with Premas Biotech PVT Ltd; and the impact of the ongoing COVID-19 pandemic on the companys results of operations, business plan and the global economy. A discussion of these and other factors, including risks and uncertainties with respect to the company, is set forth in the companys filings with the SEC, including its annual report on Form 10-K filed with the Securities and Exchange Commission, as may be supplemented or amended by the companys Quarterly Reports on Form 10-Q. The company disclaims any intention or obligation to revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.Additional information on the company and its products can be found at Relations: Hayden IRBrett Mass, Managing Partner Phone: 646 536-7331 Email: 