SAN DIEGO, Dec. 12, 2018 /PRNewswire/ -- Tocagen Inc.
(Nasdaq: TOCA), a clinical-stage, cancer-selective gene therapy
company, today announced the pricing of an underwritten public
offering of 3,000,000 shares of its common stock at a price to the
public of $10.00 per share. The gross
proceeds from the offering are expected to be approximately
$30.0 million, before deducting the
underwriting discounts and commissions and other offering expenses.
The offering is expected to close on or about December 17, 2018, subject to customary closing
conditions. In addition, the underwriters have been granted a
30-day option to purchase up to an additional 450,000 shares of
Tocagen's common stock at the public offering price, less the
underwriting discounts and commissions.
Citigroup and Leerink Partners are acting as joint book-running
managers for the offering.
The securities described above are being offered by Tocagen
pursuant to a shelf registration statement on Form S-3 filed by
Tocagen with the Securities and Exchange Commission (SEC), which
was declared effective on May 23,
2018. A preliminary prospectus supplement and accompanying
prospectus related to the offering was filed with the SEC and is
available for free on the SEC's website at http://www.sec.gov.
Copies of the final prospectus supplement and the accompanying
prospectus related to this offering, when available, may be
obtained from: Citigroup Global Markets Inc., c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (800)
831-9146; or Leerink Partners LLC, Attention: Syndicate Department,
One Federal Street, 37th Floor, Boston,
MA 02110, or by telephone at (800) 808-7525, ext. 6132, or
by e-mail at syndicate@leerink.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 Tocagen
Tocagen is a clinical-stage, cancer-selective gene therapy
company developing first-in-class, broadly applicable product
candidates designed to activate a patient's immune system against
their own cancer. Tocagen's lead investigational product candidate,
Toca 511 & Toca FC, is under evaluation in a pivotal Phase 3
trial (Toca 5) for recurrent high grade glioma (HGG), a disease
with significant unmet medical need. The U.S. Food and Drug
Administration awarded Tocagen an orphan drug grant for the Toca 5
trial and has granted Toca 511 & Toca FC Breakthrough Therapy
Designation for the treatment of recurrent HGG. The European
Medicines Agency has granted Toca 511 PRIME (PRIority MEdicines)
designation for the treatment of glioma.
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. This press release may, in some
cases, use terms such as "predicts," "believes," "potential,"
"proposed," "continue," "estimates," "anticipates," "expects,"
"expected," "plans," "intends," "may," "could," "might," "will,"
"should" or other words that convey uncertainty of future events or
outcomes to identify these forward-looking statements.
Forward-looking statements include statements regarding intentions,
beliefs, projections, outlook, analyses or current expectations
concerning, among other things, the completion, timing and size of
Tocagen's public offering. Various factors may cause differences
between Tocagen's expectations and actual results, including risks
and uncertainties associated with market conditions and the
satisfaction of customary closing conditions related to the public
offering, as well as those discussed in greater detail in Tocagen's
filings with the SEC, including without limitation in its Form 10-K
for the year ended December 31, 2017
and in its subsequent Form 10-Qs. Any forward-looking statements
that are made in this press release speak only as of the date of
this press release. Tocagen assumes no obligation to update the
forward-looking statements whether as a result of new information,
future events or otherwise, after the date of this press
release.
Tocagen Media Contact:
Pam Lord
Canale Communications
(619) 849-6003
pam@canalecomm.com
Tocagen Investor Contact:
Elizabeth Broder
Endurance Advisors
ebroder@enduranceadvisors.com
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SOURCE Tocagen Inc.