Aravive Announces Proposed Public Offering of Common Stock
November 26 2019 - 05:14PM
Aravive, Inc. (Nasdaq: ARAV), (“Aravive”) a
clinical-stage biopharmaceutical company developing treatments
designed to halt the progression of life-threatening diseases,
including cancer and fibrosis, today announced that it has
commenced an underwritten public offering of the sale of its shares
of common stock. In connection with this offering, Aravive 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 public
offering. All of the shares are being offered by Aravive. Aravive
currently intends to use the net proceeds from this offering
primarily for research, development and manufacturing of product
candidates, and for other general corporate purposes including, to
acquire, license or invest in complementary businesses,
technologies, product candidates or other intellectual property.
Piper Jaffray and Cantor Fitzgerald & Co.
are acting as joint book runners for the offering. 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.
The offering is being made pursuant to an
effective shelf registration statement on Form S-3 (File No.
333-219765) previously filed with and declared effective by the
Securities and Exchange Commission (“SEC”). A preliminary
prospectus supplement and accompanying base prospectus describing
the terms of the proposed offering will be filed with the SEC and
will be available on the SEC’s website at http://www.sec.gov.
Electronic copies of the preliminary prospectus may also be
obtained, when available, by contacting Piper Jaffray & Co.,
Attention: Prospectus Department, 800 Nicollet Mall, J12S03,
Minneapolis, MN 55402, or by email at prospectus@pjc.com, or by
phone at (800) 747-3924; or Cantor Fitzgerald & Co., Attention:
Capital Markets, 499 Park Ave., 6th Floor, New York, New York
10022, or by email at prospectus@cantor.com. Before investing in
this offering, interested parties should read in their entirety the
prospectus supplement and the accompanying prospectus and the other
documents that Aravive has filed with the SEC that are incorporated
by reference in such prospectus supplement and the accompanying
prospectus, which provide more information about Aravive and such
offering.
This press release shall not constitute an offer
to sell nor the solicitation of an offer to buy, nor shall there be
any sale of 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 any such state or
jurisdiction.
About Aravive
Aravive is a clinical-stage biopharmaceutical
company developing treatments designed to halt the progression of
life-threatening diseases, including cancer and fibrosis. Aravive’s
lead product candidate, AVB-500, is an ultrahigh-affinity decoy
protein that targets the GAS6-AXL signaling pathway. By capturing
serum GAS6, AVB-500 starves the AXL pathway of its signal,
potentially halting the biological programming that promotes
disease progression. AXL receptor signaling plays an important role
in multiple types of malignancies by promoting metastasis, cancer
cell survival, resistance to treatments, and immune suppression.
The GAS6-AXL signaling pathway also plays a significant role in
fibrogenesis. Aravive is evaluating AVB-500 in platinum-resistant
ovarian cancer, and intends to expand development into additional
oncology and fibrotic indications.
Forward Looking Statements
This press release includes forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 on our current expectations and projections
about future events. In some cases, forward-looking statements can
be identified by terminology such as “may,” “should,” “potential,”
“continue,” “expects,” “anticipates,” “intends,” “plans,”
“believes,” “estimates,” and similar expressions. These statements
are based upon current beliefs, expectation, and assumptions and
include statements regarding the timing and completion of the
proposed public offering and intended use of proceeds. These
statements are subject to a number of risks and uncertainties, many
of which are difficult to predict, including market conditions,
whether the proposed offering is completed, the success of
Aravive’s clinical programs, and the other factors described in
Aravive’s filings with the SEC. The information in this release is
provided only as of the date of this release, and Aravive
undertakes no obligation to update any forward-looking statements
contained in this release based on new information, future events,
or otherwise, except as required by law.
Contacts for Aravive:
Investors:
Christina Tartaglia
Stern IR, Inc.
christina.tartaglia@sternir.com
212-362-1200
Media:
Heidi Chokeir
Canale Communications
heidi@canalecomm.com
619-203-5391
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