MyoKardia Announces Closing of Public Offering of Common Stock Including Full Exercise of Option to Purchase Additional Share...
October 03 2016 - 4:30PM
MyoKardia, Inc. (Nasdaq:MYOK), a clinical stage biopharmaceutical
company pioneering a precision medicine approach for the treatment
of heritable cardiovascular diseases, today announced the closing
of its previously announced underwritten public offering of
4,370,000 shares of common stock, at the public offering price of
$15.00 per share, which included 570,000 shares sold pursuant to
the full exercise by the underwriters of their option to purchase
additional shares. All of the shares in the offering were offered
by MyoKardia. MyoKardia estimates net proceeds from the offering to
be approximately $61.0 million, after deducting underwriting
discounts and commissions and estimated offering expenses.
Credit Suisse Securities (USA) LLC and Cowen and
Company, LLC acted as joint lead book-running managers for the
offering. BMO Capital Markets Corp. acted as book-running
manager. Wedbush PacGrow acted as co-manager.
A registration statement on Form S-1 relating to
these securities was declared effective by the Securities and
Exchange Commission on September 27, 2016. Copies of the prospectus
for this offering may be obtained by contacting: Credit Suisse
Securities (USA) LLC, Attention: Prospectus Department, One Madison
Avenue, New York, NY 10010, by telephone at (800) 221-1037, or by
email at newyork.prospectus@credit-suisse.com; or Cowen and
Company, LLC, c/o Broadridge Financial Services, Attention:
Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717,
or by telephone at (631) 274-2806 or by fax at (631) 254-7140.
This press release does 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.
About MyoKardia
MyoKardia is a clinical stage biopharmaceutical
company pioneering a precision medicine approach to discover,
develop and commercialize targeted therapies for the treatment of
serious and rare cardiovascular diseases. MyoKardia’s initial focus
is on the treatment of heritable cardiomyopathies, a group of rare,
genetically-driven forms of heart failure that result from
biomechanical defects in cardiac muscle contraction. MyoKardia has
used its precision medicine platform to generate a pipeline of
therapeutic programs for the chronic treatment of the two most
prevalent forms of heritable cardiomyopathy—hypertrophic
cardiomyopathy, or HCM, and dilated cardiomyopathy, or DCM.
MyoKardia’s most advanced product candidate, MYK-461, is an
orally-administered small molecule designed to reduce excessive
cardiac muscle contractility leading to HCM and has been evaluated
in three Phase 1 clinical trials. MyoKardia is now studying MYK-461
in the Phase 2 PIONEER-HCM pilot study in symptomatic obstructive
hypertrophic cardiomyopathy (oHCM), for which the FDA has granted
MYK-461 Orphan Drug Designation. A cornerstone of the MyoKardia
platform is the Sarcomeric Human Cardiomyopathy Registry, or SHaRe,
a multi-center, international repository of clinical and laboratory
data on individuals and families with genetic heart disease, which
MyoKardia helped form in 2014. MyoKardia believes that SHaRe,
currently consisting of data from approximately 10,000 individuals,
is the world’s largest registry of patients with heritable
cardiomyopathies. MyoKardia’s purpose is to improve the lives of
patients and families suffering from cardiovascular disease by
creating targeted therapies that can change the course of their
condition.
Forward-Looking Statements
Statements we make in this press release may include statements
which are not historical facts and are considered forward-looking
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, which are usually identified by the use of words such as
“anticipates,” “believes,” “estimates,” “expects,” “intends,”
“may,” “plans,” “projects,” “seeks,” “should,” “will,” and
variations of such words or similar expressions. We intend these
forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements contained in Section 27A
of the Securities Act and Section 21E of the Securities Exchange
Act and are making this statement for purposes of complying with
those safe harbor provisions. These forward-looking statements,
including statements regarding the anticipated net proceeds from
the public offering, future expectations, plans and prospects for
us, and the timing of these events, reflect our current views about
our plans, intentions, expectations, strategies and prospects,
which are based on the information currently available to us and on
assumptions we have made. Although we believe that our plans,
intentions, expectations, strategies and prospects as reflected in
or suggested by those forward-looking statements are reasonable, we
can give no assurance that the plans, intentions, expectations or
strategies will be attained or achieved. Furthermore, actual
results may differ materially from those described in the
forward-looking statements and will be affected by a variety of
risks and factors that are beyond our control including, without
limitation, uncertainties related to market conditions and the
completion of the public offering on the anticipated terms or at
all, as well as those set forth in our Annual Report on Form 10-K
for the fiscal year ended December 31, 2015, our Quarterly Report
on Form 10-Q for the quarter ended June 30, 2016, the final
prospectus related to the public offering, along with discussions
of potential risks, uncertainties and other important factors in
our other filings with the Securities and Exchange Commission.
Except as required by law, we assume no obligation to update
publicly any forward-looking statements, whether as a result of new
information, future events or otherwise.
Investor Contact:
Beth DelGiacco
Stern Investor Relations, Inc.
212-362-1200
beth@sternir.com
Media Contact:
Steven Cooper
Edelman
415-486-3264
steven.cooper@edelman.com
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