Exhibit 5.1
PORTER, WRIGHT, MORRIS & ARTHUR LLP
41 South High Street
Columbus, Ohio 43215-6194
Telephone: 614/227-2000
Facsimile: 614/227-2100
January 20, 2009
Neoprobe Corporation
425 Metro Place North, Suite 300
Dublin, Ohio 43017
Ladies and Gentlemen:
With respect to the registration statement on Form S-1 (the Registration Statement) being
filed with the Securities and Exchange Commission by Neoprobe Corporation, a Delaware corporation
(the Company), under the Securities Act of 1933, as amended, relating to the sale of up to
11,500,000 shares (the Shares) of common stock of the Company, $.001 par value (the Common
Stock), by the selling stockholder named in the Registration Statement (the Selling
Stockholder), we advise you as follows:
We are counsel for the Company and have participated in the preparation of the Registration
Statement. We have reviewed the Companys Restated Certificate of Incorporation, as amended to
date, the corporate action taken to date in connection with the Registration Statement and the
issuance of the Shares, the form of Common Stock Purchase Agreement between the Company and the
Selling Stockholder, dated as of December 1, 2006, and as amended by the First Amendment to Common
Stock Purchase Agreement, dated December 24, 2008 (the Purchase Agreement), and such other
documents and authorities as we deem relevant for the purpose of this opinion.
Based upon the foregoing and in reliance thereon, we are of the opinion that, upon compliance
with the Securities Act of 1933, as amended, and with the securities or blue sky laws of the
states in which the Shares are to be offered for sale, the 11,500,000 shares of Common Stock
issuable under the amended Purchase Agreement will be, when issued and paid for as provided in the
amended Purchase Agreement, validly issued, fully paid and non-assessable.
We consent to the filing of this opinion as an exhibit to the Registration Statement and to
the use of our name under the caption Legal Experts in the prospectus included in the
Registration Statement.
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Very truly yours, |
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/s/ Porter, Wright, Morris & Arthur LLP |
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PORTER, WRIGHT, MORRIS & ARTHUR LLP |