MyoKardia Announces Closing of Public Offering of Common Stock Including Full Exercise of Option to Purchase Additional Share...
August 14 2017 - 11:14AM
MyoKardia, Inc. (Nasdaq:MYOK) (“MyoKardia”), 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 4,025,000 shares of common stock, at the public
offering price of $35.50 per share, which included 525,000 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 $133.8 million,
after deducting underwriting discounts and commissions and
estimated offering expenses.
J.P. Morgan Securities LLC and Cowen and Company, LLC acted as
joint book-running managers for the offering. BMO Capital Markets
Corp. also acted as a bookrunner for the offering. Wedbush
Securities Inc. acted as co-manager for the offering.
The shares described above are being offered by MyoKardia
pursuant to a shelf registration statement on Form S-3, including a
base prospectus, that was previously filed by MyoKardia with
the Securities and Exchange Commission (SEC) and that was
declared effective on January 19, 2017. The offering is being made
solely by means of a prospectus supplement and the accompanying
prospectus. Copies of the final prospectus supplement and the
accompanying prospectus relating to this offering may be obtained
by contacting: J.P. Morgan Securities LLC, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717 or by calling toll-free (866) 803-9204; 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 shall 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 (HCM), and dilated cardiomyopathy (DCM). MyoKardia’s
most advanced product candidate is mavacamten (formerly MYK-461).
Mavacamten is a novel, oral, allosteric modulator of cardiac myosin
that reduced hypercontractility in Phase 1 clinical studies of HCM
patients. In April 2016, the U.S. Food and Drug Administration
granted Orphan Drug Designation for mavacamten for the treatment of
symptomatic, obstructive hypertrophic cardiomyopathy, a subset of
HCM. MyoKardia is currently studying mavacamten in PIONEER-HCM.
MYK-491, MyoKardia’s second product candidate, is designed to
increase the overall extent of the heart’s contraction in DCM
patients by increasing cardiac contractility. MyoKardia is
currently evaluating MYK-491 in a Phase 1 study in healthy
volunteers. A cornerstone of the MyoKardia platform is the
Sarcomeric Human Cardiomyopathy Registry (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’s mission is to change the
world for patients with serious cardiovascular disease through bold
and innovative science.
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
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, risks associated
with the development and regulation of our product candidates, as
well as those set forth in our Quarterly Report on Form 10-Q for
the quarter ended June 30, 2017 and our other filings with the SEC.
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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