NEWARK, Calif., Oct. 11, 2017 /PRNewswire/ -- Protagonist
Therapeutics, Inc. (Nasdaq: PTGX), a biopharmaceutical company that
discovers and develops novel peptide-based drugs, announced today
that it has priced an underwritten public offering of 3,530,000
shares of its common stock at a price to the public of $17.00 per share. The gross proceeds to
Protagonist from the offering, before underwriting discounts and
commissions and offering costs, are expected to be $60,010,000. Protagonist has granted the
underwriters a 30-day option to purchase up to an additional
529,500 shares of common stock. All of the shares to be sold in the
offering are being sold by Protagonist. The offering is expected to
close on or about October 16, 2017,
subject to satisfaction of customary closing conditions.
Protagonist intends to use the net proceeds from the proposed
offering to fund clinical research and development of the company's
three therapeutic candidates, PTG-100, PTG-200, and PTG-300,
including the completion of ongoing clinical trials, discovery
programs and platform development, and for working capital and
general corporate purposes.
Leerink Partners LLC and Barclays Capital Inc. are acting as
joint lead book-running managers for the offering. BMO
Capital Markets Corp. and Stifel are acting as passive joint
book-running managers for the offering. BTIG LLC and Nomura
Securities International, Inc. are acting as co-lead managers for
the offering.
The securities described above are being offering by Protagonist
pursuant to a shelf registration statement, including a base
prospectus, filed by Protagonist with the Securities and Exchange
Commission (SEC) and declared effective by the SEC on October 5, 2017. A preliminary prospectus
supplement and the accompanying prospectus relating to this
offering has been filed with the SEC and a final prospectus
supplement and accompanying prospected related to the offering will
be filed with the SEC and will be available on the SEC's website at
www.sec.gov. The offering is being made only by means of a
prospectus supplement and accompanying prospectus. When available,
copies of the final prospectus supplement and the accompanying
prospectus relating to this offering may be obtained from Leerink
Partners LLC, Attention: Syndicate Department, One Federal Street,
37th Floor, Boston, MA,
02110, by email at syndicate@leerink.com, or by telephone at (800)
808-7525, ext. 6132; from Barclays Capital Inc., c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (888) 603-5847,
email: Barclaysprospectus@broadridge.com; from BMO Capital Markets
Corp., by telephone at 800-414-3627 or by email at
bmoprospectus@bmo.com; or from Stifel, Nicolaus & Company,
Incorporated, Attention: Syndicate, One
Montgomery Street, Suite 3700, San
Francisco, California 94104, by telephone at 415-364-2720 or
by email at syndprospectus@stifel.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there by any sale of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such
jurisdiction.
About Protagonist Therapeutics
Protagonist is a clinical development-stage biopharmaceutical
company that utilizes a proprietary technology platform to discover
and develop novel peptide-based drugs to address significant unmet
medical needs. Its primary focus is on developing potential
first-in-class oral targeted therapy-based peptide drugs that work
by blocking biological pathways that are currently targeted by
marketed injectable antibody drugs. Protagonist's lead peptide
candidates, PTG-100 and PTG-200, are based on this approach.
PTG-100 is currently in Phase 2b clinical trials for
moderate-to-severe ulcerative colitis, and the company plans to
initiate clinical trials of PTG-200 in 2017 as a potential
treatment for Crohn's disease. The company recently entered
into a worldwide collaboration with Janssen Biotech, Inc. to
co-develop and commercialize PTG-200. Protagonist is also
developing an injectable hepcidin mimetic, PTG-300, for the
treatment of rare diseases such as beta-thalassemia and
myelodysplastic syndromes, currently in a Phase 1 clinical
trial.
Protagonist is headquartered in Newark, California with pre-clinical and
clinical staff in California, and
discovery operations both in California and Brisbane, Queensland, Australia.
Cautionary Note on Forward-Looking Statements
This press release contains forward-looking statements for
purposes of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements include
statements regarding our intentions or current expectations
concerning, among other things, the completion of the proposed
public offering. In some cases, you can identify these statements
by forward-looking words such as "believe," "may," "will,"
"expect," or the negative or plural of these words or similar
expressions. Forward-looking statements are not
guarantees of future performance and are subject to risks and
uncertainties that could cause actual results and events to differ
materially from those anticipated, including, but not limited to,
the satisfaction of customary closing conditions and the
anticipated use of proceeds. We discuss many of these
risks in greater detail under the heading "Risk Factors" contained
in the preliminary prospectus supplement, and accompanying
prospectus, related to the offering filed with the SEC on
October 11, 2017, and other filings
with the SEC. Forward-looking statements are not guarantees of
future performance, and our actual results of operations, financial
condition and liquidity, and the development of the industry in
which we operate, may differ materially from the forward-looking
statements contained in this press release. Any forward-looking
statements that we make in this press release speak only as of the
date of this press release. We assume no obligation to update our
forward-looking statements whether as a result of new information,
future events or otherwise, after the date of this press
release.
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SOURCE Protagonist Therapeutics, Inc.