DermTech Announces Proposed Public Offering of Common Stock
January 06 2021 - 4:01PM
Business Wire
DermTech, Inc. (Nasdaq: DMTK) (“DermTech”), a leader in
precision dermatology enabled by a non-invasive skin genomics
platform, announced today that it has commenced a proposed
underwritten public offering of its common stock. In connection
with the offering, DermTech intends to grant the underwriters a
30-day option to purchase up to an additional 15% of the shares of
common stock sold in the offering. All of the shares in the
offering will be sold by DermTech. DermTech currently intends to
use the net proceeds from the offering to fund further
commercialization of its clinical commercial tests, accelerate
pipeline development and for general corporate purposes, including
working capital and other general and administrative purposes.
Cowen and William Blair are acting as joint book-running
managers for the offering. The offering is subject to market and
other conditions, and there can be no assurance as to whether or
when the offering may be completed, or as to the actual size or
terms of the offering.
The offering will be made only by means of a written prospectus
and related prospectus supplement forming part of DermTech’s shelf
registration statement on Form S-3 (File No. 333-248642) that was
filed with the Securities and Exchange Commission (the “SEC”) on
September 8, 2020 and declared effective by the SEC on September
17, 2020. A preliminary prospectus supplement and accompanying
prospectus relating to and describing the terms of the offering
will be available at the SEC’s website located at www.sec.gov.
Alternatively, copies may be obtained from Cowen and Company, LLC,
c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, Attn: Prospectus Department, by email at
PostSaleManualRequests@broadridge.com or by telephone at (833)
297-2926, or from William Blair & Company, L.L.C., Attention:
Prospectus Department, 150 North Riverside Plaza, Chicago, IL
60606, or by email at prospectus@williamblair.com or by telephone
at 1-800-621-0687. Before you invest, you should read the
prospectus supplement and the accompanying prospectus along with
other documents that DermTech has filed with the SEC for more
complete information about DermTech and the offering.
This press release shall not constitute an offer to sell or a
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 registration or qualification under the securities laws of any
such state or other jurisdiction.
About DermTech:
DermTech is the leading genomics company in dermatology and is
creating a new category of medicine, precision dermatology, enabled
by our non-invasive skin genomics platform. DermTech’s mission is
to transform dermatology with our non-invasive skin genomics
platform, to democratize access to high quality dermatology care,
and to improve the lives of millions. DermTech provides genomic
analysis of skin samples collected non-invasively using an adhesive
patch rather than a scalpel. DermTech markets and develops products
that facilitate the early detection of skin cancers, and is
developing products that assess inflammatory diseases and customize
drug treatments.
Forward-Looking Statements:
This press release includes “forward-looking statements” within
the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995. The expectations,
estimates, and projections of DermTech may differ from its actual
results and consequently, you should not rely on these
forward-looking statements as predictions of future events. Words
such as “expect,” “estimate,” “project,” “budget,” “forecast,”
“anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,”
“believes,” “predicts,” “potential,” “continue,” and similar
expressions are intended to identify such forward-looking
statements. These forward-looking statements include, without
limitation, expectations with respect to: the intention,
completion, timing and option relating to the proposed public
offering and the intended use of proceeds therefrom, as well as the
performance, patient benefits, cost-effectiveness,
commercialization and adoption of DermTech’s products and the
market opportunity therefor. These forward-looking statements
involve significant risks and uncertainties that could cause the
actual results to differ materially from the expected results. Most
of these factors are outside of the control of DermTech and are
difficult to predict. Factors that may cause such differences
include, but are not limited to: (1) the outcome of any legal
proceedings that may be instituted against DermTech; (2) DermTech’s
ability to obtain additional funding to develop and market its
products; (3) the existence of favorable or unfavorable clinical
guidelines for DermTech’s tests; (4) the reimbursement of
DermTech’s tests by Medicare and private payors; (5) the ability of
patients or healthcare providers to obtain coverage of or
sufficient reimbursement for DermTech’s products; (6) DermTech’s
ability to grow, manage growth and retain its key employees; (7)
changes in applicable laws or regulations; (8) the market adoption
and demand for DermTech’s products and services together with the
possibility that DermTech may be adversely affected by other
economic, business, and/or competitive factors; (9) uncertainties
related to market conditions and the completion of the public
offering on the anticipated terms or at all; and (10) other risks
and uncertainties included in the “Risk Factors” section of the
preliminary prospectus available on the SEC’s website located at
www.sec.gov, the most recent Quarterly Report on Form 10‑Q filed by
DermTech with the SEC, and other documents filed or to be filed by
DermTech with the SEC. DermTech cautions that the foregoing list of
factors is not exclusive. You should not place undue reliance upon
any forward-looking statements, which speak only as of the date
made. DermTech does not undertake or accept any obligation or
undertaking to release publicly any updates or revisions to any
forward-looking statements to reflect any change in its
expectations or any change in events, conditions, or circumstances
on which any such statement is based.
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version on businesswire.com: https://www.businesswire.com/news/home/20210106005815/en/
Sarah Dion VP Marketing sdion@dermtech.com (858) 450-4222
Investor Relations: Caroline Corner, PhD Westwicke, an ICR
company caroline.corner@westwicke.com (415) 202-5678
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