Cortexyme, Inc. Announces Closing of Initial Public Offering & the Exercise of the Underwriters’ Option to Purchase Additio...
May 13 2019 - 5:11PM
Business Wire
Cortexyme, Inc. (Nasdaq: CRTX), a clinical stage
biopharmaceutical company pioneering a novel disease-modifying
therapeutic approach to treat a key underlying cause of Alzheimer’s
and other degenerative diseases, today announced the closing of its
initial public offering of 4,412,000 shares of its common stock at
the public offering price of $17.00 per share, and the full
exercise by the underwriters of their option to purchase 661,800
additional shares of Cortexyme’s common stock. The exercise of the
option brings the total number of shares of common stock sold by
Cortexyme to 5,073,800 shares. The net proceeds from Cortexyme’s
initial public offering, including proceeds from the exercise of
the underwriters’ option to purchase additional shares, were
approximately $78.1 million, after deducting underwriting discounts
and commissions and estimated offering expenses payable by
Cortexyme.
BofA Merrill Lynch and Credit Suisse Securities (USA) LLC acted
as joint book-running managers for the offering. Canaccord Genuity
LLC and JMP Securities LLC acted as co-managers.
A registration statement relating to these securities has been
filed with the Securities and Exchange Commission and was declared
effective on May 8, 2019. The offering was made solely by means of
a prospectus forming part of the effective registration statement.
Copies of the final prospectus relating to this offering may be
obtained from any of the following sources:
- BofA Merrill Lynch, NC1-004-03-43, 200
North College Street, 3rd Floor, Charlotte, NC 28255-0001,
Attention: Prospectus Department, or by phone at 1-800-294-1322 or
by email at dg.prospectus_requests@baml.com;
- Credit Suisse Securities (USA) LLC,
Attn: Prospectus Department, Eleven Madison Avenue, 3rd Floor, New
York, NY 10010, by telephone at 1-800-221-1037 or by email at
usa.prospectus@credit-suisse.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
shares of Cortexyme’s common stock in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
the registration or qualification under the securities laws of any
such state or jurisdiction.
About Cortexyme, Inc.
Cortexyme is a clinical stage pharmaceutical company pioneering
a novel disease-modifying therapeutic approach to treat a key
underlying cause of Alzheimer's disease and other degenerative
diseases. Cortexyme is targeting a specific, infectious pathogen
found in the brain of Alzheimer’s patients and tied to
neurodegeneration and neuroinflammation in animal models. The
company's lead investigational medicine, COR388, is the subject of
the GAIN Trial, an ongoing Phase 2/3 clinical study in patients
with mild to moderate Alzheimer’s disease.
Forward-Looking Statements
Statements in this press release contain “forward-looking
statements” that are subject to substantial risks and
uncertainties. Forward-looking statements contained in this press
release may be identified by the use of words such as “anticipate,”
“expect,” “believe,” “will,” “may,” “should,” “estimate,”
“project,” “outlook,” “forecast” or other similar words.
Forward-looking statements are based on Cortexyme’s current
expectations and are subject to inherent uncertainties, risks and
assumptions that are difficult to predict. Further, certain
forward-looking statements are based on assumptions as to future
events that may not prove to be accurate. Factors that could cause
actual results to differ include, but are not limited to, the risks
and uncertainties described in the section titled “Risk Factors” in
the final prospectus related to the public offering filed with the
Securities and Exchange Commission. Forward-looking statements
contained in this announcement are made as of this date, and
Cortexyme undertakes no duty to update such information except as
required under applicable law.
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version on businesswire.com: https://www.businesswire.com/news/home/20190513005869/en/
Chris LoweChief Financial OfficerCortexyme,
Inc.clowe@cortexyme.com
Hal MackinsFor Cortexyme, Inc.hal@torchcomllc.com(415)
994-0040
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