BOTHELL, WA and
VANCOUVER, March 15, 2012 /PRNewswire/ - OncoGenex
Pharmaceuticals, Inc. (NASDAQ: OGXI) today announced that it
commenced a public offering of its common stock. OncoGenex
expects to grant the underwriters a 30-day option to purchase up to
an additional 15% of the shares of common stock offered in the
public offering to cover overallotments, if any. The offering
is subject to market 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.
Leerink Swann LLC and Stifel Nicolaus Weisel are acting as joint
book-running managers and Lazard Capital Markets LLC and
William Blair & Company, L.L.C.
are acting as co-managers.
The offering is being made to purchasers pursuant to an
effective shelf registration statement filed with the Securities
and Exchange Commission, or SEC. A preliminary prospectus
supplement and accompanying prospectus describing the terms of the
offering will be filed with the SEC. When available, copies
of the preliminary prospectus supplement and accompanying
prospectus may be obtained by contacting Leerink Swann LLC,
Attention: Syndicate Department, One Federal Street, 37th Floor,
Boston, Massachusetts 02110, (800)
808-7525, or Stifel, Nicolaus & Company, Incorporated,
Attention: General Counsel, One Montgomery
Street, Suite 3700, San Francisco,
California 94104, (415) 364-2500. Electronic copies of
the preliminary prospectus supplement and accompanying prospectus
will also be available on the website of the SEC at
http://www.sec.gov.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy shares of common stock of
OncoGenex, nor shall there be any sale of these securities in any
state or jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About OncoGenex
OncoGenex is a biopharmaceutical company committed to the
development and commercialization of new cancer therapies that
address treatment resistance in cancer patients. OncoGenex
has a diverse oncology pipeline, with each product candidate having
a distinct mechanism of action and representing a unique
opportunity for cancer drug development.
OncoGenex and Teva Pharmaceutical Industries
Ltd. (NASDAQ: TEVA) have entered a global collaboration
and license agreement to develop and commercialize OncoGenex' lead
drug candidate, custirsen. Custirsen is currently in Phase 3
clinical development as a treatment in men with metastatic
castrate-resistant prostate cancer. The companies plan to
begin Phase 3 development of custirsen in first-line treatment of
advanced, unresectable non-small cell lung cancer. OGX-427 is
in Phase 2 clinical development; CSP-9222 and OGX-225 are currently
in pre-clinical development.
OncoGenex' Forward Looking Statements
This press release contains forward-looking statements within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995, including, but not
limited to, OncoGenex' intention to conduct a public offering of
common stock. All statements other than statements of
historical fact are statements that could be deemed forward-looking
statements. These statements are based on management's
current expectations and beliefs and are subject to a number of
risks, uncertainties and assumptions that could cause actual
results to differ materially from those described in the
forward-looking statements, including, among others, the ability to
manage successfully and complete the public offering, the general
economic and/or market conditions and the factors set forth in the
Company's filings with the SEC, including the Company's Annual
Report on Form 10-K for the year ended December 31, 2011 and the preliminary prospectus
supplement related to this public offering. The Company
undertakes no obligation to update the forward-looking statements
contained herein or to reflect events or circumstances occurring
after the date hereof, other than as may be required by applicable
law.
SOURCE OncoGenex Pharmaceuticals, Inc.