Ignyta Announces Proposed Public Offering of Common Stock
October 18 2017 - 4:23PM
Business Wire
Ignyta, Inc. (Nasdaq: RXDX) ("Ignyta"), a biotechnology company
focused on precision medicine in oncology, today announced that it
has commenced an underwritten public offering of $125,000,000 of
shares of its common stock. In connection with this offering,
Ignyta expects to grant the underwriters a 30-day option to
purchase up to an additional $18,750,000 of shares of its common
stock at the public offering price, less the underwriting discounts
and commissions. The offering is subject to market and other
conditions, and there can be no assurances as to whether or when
the offering may be completed, or as to the actual size or terms of
the offering.
Ignyta anticipates using the net proceeds from the offering to
fund research and development activities for its development
programs, including, but not limited to, the clinical development
and pre-commercialization activities of entrectinib, the conduct of
ongoing clinical and pre-clinical development of other pipeline
assets, the completion of development activities related to the
diagnostic lab, and for working capital and other general corporate
purposes.
J.P. Morgan Securities LLC and Jefferies LLC are acting as joint
book-running managers for the offering.
The shares described above are being offered by Ignyta pursuant
to a shelf registration statement on Form S-3, including a base
prospectus, that was previously filed by Ignyta with the Securities
and Exchange Commission (the “SEC”) and that became automatically
effective on October 18, 2017. A preliminary prospectus supplement
and accompanying prospectus relating to the offering will be filed
with the SEC and will be available on the SEC’s website located at
http://www.sec.gov. Copies of the preliminary prospectus supplement
and the accompanying prospectus relating to this offering, when
available, may be obtained from J.P. Morgan Securities LLC, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717, or by telephone at (866) 803-9204, or by email at
prospectus-eq_fi@jpmchase.com; or from Jefferies LLC, Attention:
Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd
Floor, New York, NY 10022, or by telephone at (877) 547-6340, or by
email at Prospectus_Department@Jefferies.com. The final terms of
the offering will be disclosed in a final prospectus supplement to
be filed with the SEC.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such
jurisdiction.
About Ignyta, Inc.
Blazing a New Future for Patients with
Cancer™
At Ignyta, we work tirelessly on behalf of patients with
cancer to offer potentially life-saving, precisely targeted
therapeutics (Rx) guided by diagnostic (Dx) tests. Our integrated
Rx/Dx strategy allows us to enter uncharted territory, illuminating
the molecular and immunological drivers of cancer and quickly
advancing treatments to address them. This approach embraces even
those patients with rare cancers, who have the highest unmet need
and who may otherwise not have access to effective treatment
options. With our pipeline of potentially first-in-class or
best-in-class precision medicines, we are pursuing the ultimate
goal of not just shrinking tumors, but eradicating cancer relapse
and recurrence in precisely defined patient populations.
Forward-Looking Statements:
This press release contains forward-looking statements about
Ignyta as that term is defined in Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
Statements in this press release that are not purely historical are
forward-looking statements. Such forward-looking statements
include, among other things, references to Ignyta's expectations
regarding the completion, timing and size of its proposed public
offering, its expectations with respect to granting the
underwriters a 30-day option to purchase additional shares and the
anticipated use of proceeds therefrom. Among the factors that could
cause actual results to differ materially from those indicated in
the forward-looking statements are risks and uncertainties
associated with market conditions and the satisfaction of customary
closing conditions related to the proposed offering, as well as
risks and uncertainties associated with Ignyta's business and
finances in general. These forward-looking statements are made as
of the date of this press release, and Ignyta assumes no obligation
to update the forward-looking statements, or to update the reasons
why actual results could differ from those projected in the
forward-looking statements. Investors should consult all of the
information set forth herein and should also refer to the risk
factor disclosure set forth in the reports and other documents the
company files with the SEC available at www.sec.gov, including
without limitation Ignyta's Annual Report on Form 10-K for the year
ended December 31, 2016 and subsequent Quarterly Reports on Form
10-Q.
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version on businesswire.com: http://www.businesswire.com/news/home/20171018006564/en/
Ignyta, Inc.Jacob Chacko, M.D.CFO858-255-5959jc@ignyta.com
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