MONROVIA, Calif., March 20, 2018 /PRNewswire/ -- Xencor, Inc.
(NASDAQ: XNCR) today announced the pricing of an underwritten
public offering of 7,300,000 shares of its common stock at a price
to the public of $31.00 per share.
All of the shares are being sold by Xencor. The gross proceeds to
Xencor from the offering, before deducting the underwriting
discounts and commissions and offering expenses, are expected to be
approximately $226.3 million. The
offering is expected to close on or about March 23, 2018, subject to customary closing
conditions. In addition, Xencor has granted the underwriters of the
offering a 30-day option to purchase up to an additional 1,095,000
shares of its common stock solely to cover over-allotments at the
public offering price, less the underwriting discounts and
commissions.
Xencor anticipates using the net proceeds from the offering for
working capital and general corporate purposes, including for
research and development expenses, general and administrative
expenses, manufacturing and clinical development expenses.
Leerink Partners and Piper
Jaffray & Co. are acting as joint book-running managers
in the offering. Cantor Fitzgerald & Co., Wedbush
PacGrow, Canaccord Genuity and BTIG are acting as co-managers in
the offering.
A shelf registration statement relating to the shares was
previously filed by Xencor with and became effective by rule of the
Securities and Exchange Commission (SEC). The offering is being
made solely by means of a prospectus. A final prospectus supplement
and accompanying prospectus relating to the offering will be filed
with the SEC and will be available on the SEC's website located at
http://www.sec.gov. Copies of the final prospectus supplement and
accompanying prospectus relating to the offering, when available,
may be obtained from Leerink Partners LLC, Attention: Syndicate
Department, One Federal Street, 37th Floor, Boston, MA 02110, or by telephone at (800)
808-7525 x6132 or by email at syndicate@leerink.com; or
Piper Jaffray & Co., Attention:
Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, or by telephone at
800-747-3924, or by email at prospectus@pjc.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these 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 Xencor
Xencor is a clinical stage biopharmaceutical company developing
engineered monoclonal antibodies for the treatment of autoimmune
diseases, asthma and allergic diseases and cancer. Currently, 11
candidates engineered with Xencor's XmAb® technology are in
clinical development internally and with partners. Xencor's
internal programs include: XmAb®5871 in Phase 2 development for the
treatment of IgG4-Related Disease, and also for the treatment of
Systemic Lupus Erythematosus; XmAb®7195 in Phase 1 development for
the treatment of asthma and allergic diseases; XmAb®14045 in Phase
1 development for acute myeloid leukemia; XmAb®13676 in Phase 1
development for B-cell malignancies; XmAb®18087 in Phase 1
development for the treatment of neuroendocrine tumors; and
XmAb®20717, XmAb®22841, XmAb®23104 and XmAb®24306 in pre-clinical
development for the treatment of multiple cancers. Xencor's XmAb
antibody engineering technology enables small changes to the
structure of monoclonal antibodies resulting in new mechanisms of
therapeutic action. Xencor partners include Novartis, Amgen,
MorphoSys, CSL/Janssen, Alexion and Boehringer Ingelheim.
Forward Looking Statements
Certain of the statements made in this press release are forward
looking, such as those, among others, relating to Xencor's
expectations regarding the completion, timing and size of the
public offering, and its anticipated use of net proceeds from the
offering. Actual results or developments may differ materially from
those projected or implied in these forward-looking statements.
Factors that may cause such a difference include risks and
uncertainties related to completion of the public offering on the
anticipated terms or at all, market conditions and the satisfaction
of customary closing conditions related to the public offering.
More information about the risks and uncertainties faced by Xencor
is contained in the section captioned "Risk Factors" in the
preliminary prospectus supplement related to the public offering
filed with the SEC. Xencor disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
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SOURCE Xencor, Inc.