Oncorus Announces Proposed Public Offering of Common Stock
February 09 2021 - 5:00PM
Oncorus, Inc. (Nasdaq: ONCR), a clinical stage biopharmaceutical
company developing next-generation, systemically active viral
immunotherapies to transform outcomes for cancer patients, today
announced it has commenced an underwritten public offering of
3,000,000 shares of its common stock. All shares of common stock to
be sold in the offering will be sold by Oncorus. In addition,
Oncorus intends to grant the underwriters a 30-day option to
purchase up to an additional 450,000 shares of common stock at the
public offering price, less underwriting discounts and commissions.
The public offering price has not yet been determined. 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.
Jefferies, Evercore ISI and Piper Sandler are acting as joint
book-running managers for the offering.
A registration statement relating to these securities has been
filed with the Securities and Exchange Commission (SEC), but
has not yet become effective. These securities may not be sold, nor
may offers to buy be accepted, prior to the time the registration
statement becomes effective. This press release shall not
constitute an offer to sell or a solicitation of an offer to buy,
nor shall there be any offer or 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 such state or jurisdiction.
The proposed offering will be made only by means of a
prospectus. Copies of the preliminary prospectus relating to the
proposed offering, when available, may be obtained from: Jefferies
LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison
Avenue, 2nd Floor, New York, New York 10022, via telephone at (877)
821-7388 or via email at Prospectus_Department@Jefferies.com;
Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East
52nd Street, 35th Floor, New York, New York 10055, or by telephone
at (888) 474-0200, or by email at ecm.prospectus@evercore.com;
Piper Sandler & Co., Attention: Prospectus Department, 800
Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, via telephone
at (800) 747-3924 or via email at prospectus@psc.com.
About Oncorus
At Oncorus, we are focused on driving innovation to deliver
next-generation, systemically active viral immunotherapies to
transform outcomes for cancer patients. We are advancing a
portfolio of intratumorally and intravenously administered viral
immunotherapies for multiple indications with significant unmet
needs based on our oncolytic Herpes Simplex Virus (oHSV) Platform
and Synthetic Virus Platform. Designed to deliver next-generation
viral immunotherapy impact, our oHSV Platform improves upon key
characteristics of this therapeutic class to enhance potency
without sacrificing safety, including greater capacity to encode
transgenes to drive systemic immunostimulatory activity, retention
of full replication competency to enable high tumor-killing
potency, and orthogonal safety strategies to restrict viral
activity in tumor cells. Oncorus’ lead oHSV program, ONCR-177, is
designed to be directly administered into a tumor, resulting in
high local concentrations of the therapeutic agent, as well as low
systemic exposure to the therapy, which we believe could
potentially limit systemic toxicities.
Cautionary Note Regarding 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, as amended. Words such as "anticipates," "believes,"
"expects," "intends," “plans,” “potential,” "projects,” “would” and
"future" or similar expressions are intended to identify
forward-looking statements. Examples of these forward-looking
statements include statements concerning: the completion, timing,
terms and size of the proposed offering and Oncorus’ expectations
with respect to granting the underwriters a 30-day option to
purchase additional shares. Any forward-looking statements in this
press release are based on management's current expectations and
beliefs and are subject to a number of risks, uncertainties and
important factors that may cause actual events or results to differ
materially from those expressed or implied by any forward-looking
statements contained in this press release, including, without
limitation: the impact of COVID-19 on Oncorus’ operations and the
timing and anticipated results of its ongoing and planned
preclinical studies and clinical trials; the risk that the
preliminary results of preclinical studies or clinical trials may
not be predictive of future results in connection with future
clinical trials; Oncorus’ ability to successfully demonstrate the
safety and efficacy of ONCR-177 and obtain regulatory approval and
that Oncorus’ other preclinical or clinical programs do not advance
or result in approved products on a timely or cost effective basis
or at all; and Oncorus’ ability to obtain, maintain and protect its
intellectual property. These and other risks and uncertainties are
described in greater detail in the section entitled "Risk Factors"
in Oncorus’ Registration Statement on Form S-1 filed with the SEC
on February 9, 2021, as well as discussions of potential risks,
uncertainties, and other important factors in the other filings
that Oncorus makes with the SEC from time to time.
Any forward-looking statements represent Oncorus’ views only as
of the date of this press release and should not be relied upon as
representing its views as of any subsequent date. Oncorus
explicitly disclaims any obligation to update any forward-looking
statements, whether as a result of new information, future events
or otherwise. No representations or warranties (expressed or
implied) are made about the accuracy of any such forward-looking
statements.
Investor Contact:Alan Lada Solebury Trout
617-221-8006 alada@soleburytrout.com
Media Contact:Liz
Meloneliz.melone@oncorus.com
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