Kura Oncology Announces Pricing of Public Offering of Common Stock
August 10 2017 - 10:12PM
Kura Oncology, Inc. (NASDAQ:KURA), a clinical-stage
biopharmaceutical company focused on the development of precision
medicines for oncology, today announced the pricing of an
underwritten public offering of 7,700,000 shares of its common
stock at a price to the public of $6.50 per share. Kura
Oncology has granted the underwriters a 30-day option to purchase
up to an additional 1,155,000 shares of its common stock. The
offering is expected to close on or about August 16, 2017, subject
to customary closing conditions. The gross proceeds to Kura
Oncology from the offering, excluding any exercise by the
underwriters of their 30-day option to purchase additional shares,
are expected to be approximately $50.1 million, before deducting
underwriting discounts and commissions and other offering expenses
payable by Kura Oncology.
Leerink Partners and Cowen are acting as joint
book-running managers in the offering. JMP Securities and
Oppenheimer & Co. are acting as co-lead managers.
The securities described above are being offered
by Kura Oncology pursuant to a shelf registration statement on Form
S-3, including a base prospectus, that was previously filed by Kura
Oncology with the Securities and Exchange Commission (the “SEC”)
and that was declared effective on April 14, 2016. A final
prospectus supplement and the accompanying prospectus relating to
the offering will be filed with the SEC and will be available for
free on the SEC’s website located at http://www.sec.gov.
Copies of the final prospectus supplement and the accompanying
prospectus relating to the offering, when available, may be
obtained from Leerink Partners LLC, Attention: Syndicate
Department, One Federal Street, 37th Floor, Boston, MA
02110, or by telephone at (800) 808-7525, ext. 6132, or by email
at syndicate@leerink.com; or from 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 shall not constitute an offer
to sell or the 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 Kura Oncology
Kura Oncology is a clinical-stage
biopharmaceutical company committed to realizing the promise of
precision medicines for the treatment of cancer. Kura Oncology’s
pipeline consists of small molecule drug candidates that target
cancer signaling pathways where there is a strong scientific and
clinical rationale to improve outcomes by identifying those
patients most likely to benefit from treatment. Kura Oncology’s
lead drug candidate is tipifarnib, a farnesyl transferase
inhibitor, which is currently being studied in multiple Phase 2
clinical trials. Kura Oncology’s pipeline also includes KO-947, an
ERK inhibitor, currently in a Phase 1 trial, and KO-539, an
inhibitor of the menin-MLL protein-protein interaction, currently
in preclinical testing.
Forward-Looking Statements
Statements contained in this press release
regarding matters that are not historical facts are
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. Such
forward-looking statements include, without limitation, statements
regarding the completion, timing and size of the offering.
Because such statements are subject to risks and uncertainties,
actual results may differ materially from those expressed or
implied by such forward-looking statements. Words such as
“believes,” “anticipates,” “plans,” “expects,” “intends,” “will,”
“goal,” “potential” and similar expressions are intended to
identify forward-looking statements. These forward-looking
statements are based upon Kura Oncology’s current expectations and
involve assumptions that may never materialize or may prove to be
incorrect. Actual results and the timing of events could
differ materially from those anticipated in such forward-looking
statements as a result of various risks and uncertainties, which
include, without limitation, risks associated with market
conditions and the satisfaction of closing conditions related to
the offering, as well as risks and uncertainties associated with
Kura Oncology’s business and finances in general, and the other
risks described in Kura Oncology’s quarterly report on
Form 10-Q for the quarter ended June 30, 2017 and other
filings with the SEC. All forward-looking statements
contained in this press release speak only as of the date on which
they were made. Kura Oncology undertakes no obligation to update
such statements to reflect events that occur or circumstances that
exist after the date on which they were made.
Investor Relations Contact:
Robert H. Uhl
Managing Director
Westwicke Partners, LLC
(858)-356-5932
robert.uhl@westwicke.com
Corporate Communications Contact:
Mark Corbae
Vice President
Canale Communications
(619) 849-5375
mark@canalecomm.com
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