Tekmira Announces Completion of Underwritten Public Offering of Common Shares
March 25 2015 - 11:24AM
Tekmira Pharmaceuticals Corporation (Nasdaq:TKMR), an
industry-leading therapeutic solutions company focused on
developing a cure for chronic hepatitis B virus infection (HBV),
announced today that it has completed its previously announced
underwritten public offering of 7.5 million common shares at a
price of US$20.25 per share for aggregate gross proceeds of
US$151.9 million before deducting underwriting discounts and
commissions and other offering expenses. Tekmira also granted the
underwriters a 30-day option to purchase up to an additional 1.125
million common shares, which, if exercised, would result in
additional gross proceeds of US$22.8 million.
Tekmira anticipates using the net proceeds from this offering to
develop and advance product candidates through clinical trials, as
well as for working capital and general corporate purposes.
Leerink Partners LLC and RBC Capital Markets, LLC acted as the
lead book-runners for the offering. Nomura acted as a book-runner
for the offering. Co-managers for the offering were: JMP
Securities, Wedbush PacGrow and Lazard Frères & Co.
The offering was made pursuant to an effective shelf
registration statement previously filed with the U.S. Securities
and Exchange Commission. No securities were offered, sold or
delivered, directly or indirectly, in Canada or to any resident of
Canada. A prospectus supplement relating to the offering was filed
with the SEC. Copies of the prospectus supplement relating to these
securities may also be obtained from: Leerink Partners LLC;
Attention: Syndicate Department, One Federal Street, 37th Floor,
Boston, MA 02110, or via telephone at (800) 808-7525, or by email
at syndicate@leerink.com; or from RBC Capital Markets, LLC, 200
Vesey Street, 8th Floor, New York, NY 10281-8098; Attention: Equity
Syndicate; phone: (877) 822-4089; email:
equityprospectus@rbccm.com.
About Tekmira
Tekmira Pharmaceuticals Corporation is a biopharmaceutical
company dedicated to discovering, developing and commercializing a
cure for patients suffering from chronic hepatitis B infection
(HBV). Our strategy is to target the three pillars necessary to
develop a curative regimen for HBV, including suppressing HBV
replication within liver cells, stimulating and reactivating the
body's immune system so that it can mount an effective defense
against the virus and, most importantly, eliminating the reservoir
of viral genomic material known as covalently closed circular DNA,
or cccDNA, that is the source of HBV persistence. Our portfolio of
assets includes eight drug candidates for use in combination to
develop a cure for HBV, and includes our product TKM-HBV currently
in Phase 1 clinical studies.
We also have a pipeline of non-HBV assets in oncology,
anti-viral and metabolic therapeutics that leverage our expertise
in RNA interference (RNAi) therapeutics and leading Lipid
Nanoparticle(LNP) technology. RNAi and LNP technology have the
potential to generate new therapeutics that take advantage of the
body's own natural processes to silence disease causing genes, or
more specifically, to eliminate specific gene-products, from the
cell. We intend to maximize the value of our non-HBV assets in the
clinic, namely: TKM-PLK1 for advanced gastrointestinal
neuroendocrine tumors, adrenocortical carcinoma and hepatocellular
carcinoma; and TKM-Ebola, and TKM-Ebola-Guinea for ebola virus
disease; as well as our preclinical programs in metabolic disorders
and filoviruses.
Tekmira is headquartered in Vancouver, BC, Canada with offices
in Doylestown, PA, USA. For more information, visit
www.tekmira.com.
Forward-Looking Statements and Information
This press release contains forward-looking statements within
the meaning of the Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, and forward
looking information within the meaning of Canadian securities laws
(collectively, "forward-looking statements"). Forward-looking
statements in this press release include statements about a 30-day
option to purchase additional common shares; additional gross
proceeds; anticipated use of net proceeds; Tekmira's strategy to
develop a curative regimen for HBV; the potential of RNAi and LNP
technology; and Tekmira's intent to maximize the value of their
non-HBV assets.
With respect to the forward-looking statements contained in this
press release, Tekmira has made numerous assumptions regarding,
among other things: stability of economic and market conditions;
and the continued demand for Tekmira's assets. While Tekmira
considers these assumptions to be reasonable, these assumptions are
inherently subject to significant business, economic, competitive,
market and social uncertainties and contingencies.
Additionally, there are known and unknown risk factors which
could cause Tekmira's actual results, performance or achievements
to be materially different from any future results, performance or
achievements expressed or implied by the forward-looking statements
contained herein. Known risk factors include, among others:
Tekmira's ability to obtain and protect intellectual property
rights, and operate without infringing on the intellectual property
rights of others; Tekmira's research and development capabilities
and resources will not meet current or expected demand; Tekmira's
products may not prove to be effective in the treatment of cancer
and infectious diseases; the possibility that other organizations
have made advancements in RNAi delivery technology that Tekmira is
not aware of; the FDA will not approve the commencement of
Tekmira's planned clinical trials or approve the use of Tekmira's
products and generally, difficulties or delays in the progress,
timing and results of clinical trials; the FDA may determine that
the design and planned analysis of Tekmira's clinical trials do not
adequately address the trial objectives in support of Tekmira's
regulatory submissions; pre-clinical and clinical trials may be
more costly or take longer to complete than anticipated;
pre-clinical or clinical trials may not generate results that
warrant future development of the tested drug candidate; and the
possibility that Tekmira has not sufficiently budgeted for
expenditures necessary to carry out planned activities.
A more complete discussion of the risks and uncertainties facing
Tekmira appears in Tekmira's Annual Report on Form 10-K and
Tekmira's continuous disclosure filings, which are available at
www.sedar.com and at www.sec.gov. All forward-looking statements
herein are qualified in their entirety by this cautionary
statement, and Tekmira disclaims any obligation to revise or update
any such forward-looking statements or to publicly announce the
result of any revisions to any of the forward-looking statements
contained herein to reflect future results, events or developments,
except as required by law.
CONTACT: Investors
Julie P. Rezler
Director, Investor Relations
Phone: 604-419-3200
Email: jrezler@tekmira.com
Media
Please direct all media inquiries to media@tekmira.com
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