Global Blood Therapeutics Prices a $100.0 Million Common Stock Public Offering
December 15 2017 - 9:03AM
Global Blood Therapeutics, Inc. (GBT) (NASDAQ:GBT), a
clinical-stage biopharmaceutical company dedicated to discovering,
developing and commercializing novel therapeutics to treat grievous
blood-based disorders with significant unmet need, today announced
the pricing of its underwritten public offering of its common stock
for gross proceeds of approximately $100.0 million, before
deducting the underwriting discounts and commissions and other
estimated offering expenses payable by GBT. The offering is
expected to close on or about December 19, 2017, subject to
customary closing conditions. In addition, GBT has granted the
underwriters a 30-day option to purchase approximately $15.0
million of additional shares of common stock.
Cantor Fitzgerald & Co. is the sole
book-running manager for the offering. The underwriters may offer
the shares from time to time for sale in one or more transactions
on The NASDAQ Global Select Market, in the over-the-counter market,
through negotiated transactions or otherwise at market prices
prevailing at the time of sale, at prices related to prevailing
market prices or at negotiated prices. On December 14, 2017, the
last sale price of the shares as reported on The NASDAQ Global
Select Market was $39.40 per share.
GBT intends to use the net proceeds from the
offering to fund its clinical development of voxelotor for the
treatment of sickle cell disease, including its ongoing Phase 3
HOPE Study and its ongoing Phase 2a HOPE-KIDS 1 Study, as well as
future clinical trials, its other research and development
activities, and for working capital and general corporate
purposes.
An automatic shelf registration statement relating
to the shares of common stock offered in the public offering
described above was filed with the Securities and Exchange
Commission (SEC) on August 23, 2017 and automatically became
effective upon filing. The securities may be offered only by means
of a written prospectus, including a prospectus supplement, forming
a part of the effective registration statement. A preliminary
prospectus supplement and accompanying prospectus relating to the
offering have been filed with the SEC and are available on the
SEC’s website at www.sec.gov. A final prospectus supplement and
accompanying prospectus will be filed with the SEC. When available,
copies of the final prospectus supplement and the accompanying
prospectus may also be obtained by contacting Cantor
Fitzgerald & Co., Attention: Capital Markets, 499 Park
Ave., 6th Floor, New York, New York 10022, or by email at
prospectus@cantor.com.
This press release shall not constitute an offer to
sell or the solicitation of an offer to buy the securities being
offered, nor shall there be any sale of the securities being
offered in any state or other 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 other
jurisdiction.
About Global Blood
TherapeuticsGlobal Blood Therapeutics, Inc. is a
clinical-stage biopharmaceutical company dedicated to discovering,
developing and commercializing novel therapeutics to treat grievous
blood-based disorders with significant unmet need. GBT’s lead
product candidate is voxelotor (formerly known as GBT440), an oral,
once-daily therapy that modulates hemoglobin’s affinity for oxygen,
which the company believes inhibits hemoglobin polymerization in
sickle cell disease.
Forward-Looking Statements Certain
statements in this press release are forward-looking within the
meaning of the Private Securities Litigation Reform Act of 1995,
including statements about GBT’s anticipated public offering,
anticipated use of proceeds and other statements containing the
words “anticipate,” “planned,” “believe,” “forecast,” “estimated,”
“expected,” and “intend,” among others. These forward-looking
statements are based on GBT’s current expectations and actual
results could differ materially. Statements we make in this press
release may include statements that are not historical facts and
are considered forward-looking within the meaning of Section 27A of
the Securities Act of 1933, as amended and Section 21E of the
Securities Exchange Act of 1934, as amended. We intend these
forward-looking statements, including statements regarding the
therapeutic potential and safety profile of voxelotor (previously
called GBT440), our ability to implement and complete our clinical
development plans for voxelotor, our ability to generate and report
data from our ongoing and potential future studies of voxelotor
(including our ongoing Phase 3 HOPE study and our ongoing Phase 2a
HOPE-KIDS1 study), regulatory review and actions relating to
voxelotor, and the timing of these events, to be covered by the
safe harbor provisions for forward-looking statements contained in
Section 27A of the Securities Act and Section 21E of the Securities
Exchange Act and are making this statement for purposes of
complying with those safe harbor provisions. These forward-looking
statements reflect our current views about our plans, intentions,
expectations, strategies and prospects, which are based on the
information currently available to us and on assumptions we have
made. We can give no assurance that the plans, intentions,
expectations or strategies will be attained or achieved, and
furthermore, actual results may differ materially from those
described in the forward-looking statements and will be affected by
a variety of risks and factors that are beyond our control
including, without limitation, the risks that our clinical and
preclinical development activities may be delayed or terminated for
a variety of reasons, that results of clinical trials may be
subject to differing interpretations, that regulatory authorities
may disagree with our clinical development plans or require
additional studies or data to support further clinical
investigation of our product candidates, that drug-related adverse
events may be observed in clinical development, and that data and
results may not meet regulatory requirements or otherwise be
sufficient for further development, regulatory review or approval,
along with those risks set forth in our Annual Report on Form 10-K
for the fiscal year ended December 31, 2016, and in our Quarterly
Report on Form 10-Q for the quarter ended September 30, 2017, as
well as discussions of potential risks, uncertainties and other
important factors in our subsequent filings with the U.S.
Securities and Exchange Commission. Except as required by law, we
assume no obligation to update publicly any forward-looking
statements, whether as a result of new information, future events
or otherwise.
Contact Information: Myesha Lacy
(investors)GBT650-351-4730investor@globalbloodtx.com
Julie Normart (media)Pure
Communications415-946-1087media@globalbloodtx.com
Global Blood Therapeutics (NASDAQ:GBT)
Historical Stock Chart
From Mar 2024 to Apr 2024
Global Blood Therapeutics (NASDAQ:GBT)
Historical Stock Chart
From Apr 2023 to Apr 2024