CytomX Therapeutics Announces Closing of Public Offering of Common Stock
July 17 2018 - 4:01PM
CytomX Therapeutics, Inc. (Nasdaq:CTMX), a clinical-stage
oncology-focused biopharmaceutical company pioneering a novel class
of investigational antibody therapeutics based on its Probody™
therapeutic technology platform, today announced the completion of
its previously announced underwritten public offering of 5,102,041
shares of its common stock at a price to the public of $24.50 per
share. All sales in the offering were sold by CytomX, with net
proceeds to CytomX of approximately $116.9 million, after deducting
underwriting discounts and commissions and estimated offering
expenses. In addition, CytomX has granted the underwriters of the
offering a 30-day option to purchase up to an additional 765,306
shares of common stock at the public offering price, less
underwriting discounts and commissions.
Goldman Sachs & Co. LLC, Citigroup and Barclays are acting
as joint bookrunning managers for the offering.
The securities described above were offered pursuant to a
registration statement that was filed with the Securities and
Exchange Commission (“SEC”) on November 3, 2016, and was declared
effective on December 7, 2016. The final prospectus supplement
relating to and describing the terms of the offering was filed with
the SEC on July 13, 2018 and is available on the SEC’s website at
www.sec.gov. Copies of the final prospectus supplement and the
accompanying prospectus relating to these securities may be
obtained for free from: Goldman Sachs & Co. LLC, Attention:
Prospectus Department, 200 West Street, New York, NY 10282, by
email at prospectus-ny@ny.email.gs.com, or by phone at (866)
471-2526; Citigroup, c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY 11717. or by phone at (800) 831-9146;
and Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, New York 11717, by email at
barclaysprospectus@broadridge.com, or by phone at (888)
603-5847.
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,
these securities in any state or jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification of these securities under the securities laws of any
such state or jurisdiction.
About CytomX Therapeutics
CytomX Therapeutics is a clinical-stage oncology-focused
biopharmaceutical company pioneering a novel class of
investigational antibody therapeutics based on its Probody
therapeutic technology platform. Probody therapeutics are designed
to exploit unique conditions of the tumor microenvironment to more
effectively localize antibody binding and activity while limiting
activity in healthy tissues. CytomX has four clinical-stage
programs from a pipeline that includes cancer immunotherapies
against clinically-validated targets, such as CX-072, a
PD-L1-targeting Probody therapeutic wholly-owned by CytomX,
BMS-986249, a CTLA-4-targeting Probody therapeutic partnered with
Bristol-Myers Squibb and CX-188, a PD-1-targeting Probody
therapeutic wholly-owned by CytomX. CytomX is also developing
first-in-class Probody drug conjugates against high potential
targets, including CX-2009, a CD166-targeting Probody drug
conjugate wholly-owned by CytomX, and CX-2029, a CD71-targeting
Probody drug conjugate partnered with AbbVie, which are considered
to be inaccessible to conventional antibody drug conjugates due to
their presence on healthy tissue. In addition, CytomX has an
EGFR-CD3 T-cell bispecific partnered with Amgen in lead
optimization stage as well as additional Probody drug conjugates,
immune-oncology and T-Cell engaging bispecific Probody programs in
early development. CytomX’s portfolio includes wholly owned
programs and strategic collaborations with AbbVie, Amgen,
Bristol-Myers Squibb Company, and ImmunoGen, Inc.
Forward-Looking Statements
This press release includes forward-looking statements. Such
forward-looking statements involve known and unknown risks,
uncertainties and other important factors that are difficult to
predict, may be beyond our control, and may cause the actual
results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied in such statements. Accordingly, you should not rely on any
of these forward-looking statements, including statements regarding
the use of proceeds. Additional applicable risks and uncertainties
include those identified in CytomX’s prospectus supplement filed
with the SEC on July 13, 2018, including the documents incorporated
by reference therein, which include CytomX’s current and future
reports filed with the SEC, including its Quarterly Report on Form
10-Q filed with the SEC on May 9, 2018. The forward-looking
statements contained in this press release are based on information
currently available to CytomX and speak only as of the date on
which they are made. CytomX does not undertake and specifically
disclaims any obligation to update any forward-looking statements,
whether as a result of any new information, future events, changed
circumstances or otherwise.
Contact:
Investors and Media: Christopher Keenan VP,
Investor Relations and Corporate Communications ckeenan@cytomx.com
650-383-0823
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