Ignyta Announces Pricing of Public Offering of Common Stock
October 19 2017 - 8:05PM
Business Wire
Ignyta, Inc. (Nasdaq: RXDX) ("Ignyta"), a biotechnology company
focused on precision medicine in oncology, today announced the
pricing of an underwritten public offering of 10.0 million shares
of its common stock at a price to the public of $16.00 per share.
The gross proceeds from this offering are expected to be $160.0
million, before deducting the underwriting discounts and
commissions and estimated offering expenses payable by Ignyta. The
offering is expected to close on or about October 24, 2017, subject
to customary closing conditions. In addition, Ignyta has granted
the underwriters a 30-day option to purchase up to an additional
1.5 million shares of its common stock at the public offering
price, less the underwriting discounts and commissions, in
connection with 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. Cantor Fitzgerald & Co.
is acting as lead manager for the offering, and Ladenburg Thalmann
& Co. Inc. and SunTrust Robinson Humphrey, Inc. are acting as
co-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 final 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 final prospectus supplement and
the accompanying prospectus related 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 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.
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 the public offering
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
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/20171019006677/en/
Ignyta, Inc.Jacob Chacko, M.D.CFOjc@ignyta.com858-255-5959
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