MyoKardia Announces Pricing of Public Offering of Common Stock
May 12 2020 - 9:34PM
MyoKardia, Inc. (Nasdaq: MYOK), a clinical-stage
biopharmaceutical company discovering and developing targeted
therapies for the treatment of serious cardiovascular diseases,
today announced the pricing of an underwritten public offering of
5,250,000 shares of its common stock at a public offering price of
$105.00 per share, before underwriting discounts. In addition, the
underwriters have a 30-day option to purchase up to an additional
787,500 shares of common stock on the same terms and conditions.
The offering is expected to close on or about May 15, 2020, subject
to the satisfaction of customary closing conditions.
MyoKardia anticipates using net proceeds from
the offering, together with its existing cash, cash equivalents and
short-term and long-term investments, to support the regulatory
approval process and potential commercial launch of mavacamten for
the treatment of obstructive hypertrophic cardiomyopathy (HCM), if
approved; to fund ongoing and potential later-stage clinical
studies of mavacamten in non-obstructive HCM and targeted heart
failure with preserved ejection fraction (HFpEF), danicamtiv in
targeted segments of systolic heart failure and MYK-224; to advance
ACT-1 and LUS-1 into clinical development; to fund ongoing
preclinical, discovery and research programs; and for working
capital, business development and other general corporate
purposes.
BofA Securities, J.P. Morgan and Credit Suisse
are acting as joint bookrunning managers for the proposed
offering. Cantor and Wells Fargo Securities are also acting
as bookrunning managers in the offering. BMO Capital Markets and
Wedbush PacGrow are acting as co-lead managers.
The shares described above are being offered
by MyoKardia pursuant to an automatic shelf registration
statement on Form S-3, including a base prospectus, which was
previously filed with the Securities and Exchange Commission
(SEC) and automatically became effective upon filing
on March 8, 2018. The offering will be made only by means of a
written prospectus and a prospectus supplement that form a part of
the 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
located at http://www.sec.gov. Copies of the preliminary
prospectus supplement and the accompanying prospectus and, when
available, copies of the final prospectus supplement and
accompanying prospectus relating to this offering may also be
obtained by contacting: BofA Securities, NC1-004-03-43, 200 North
College Street, 3rd floor, Charlotte, NC 28255-0001, Attention:
Prospectus Department, or by email at
dg.prospectus_requests@bofa.com; J.P. Morgan Securities LLC,
Attention: Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717 or by email: prospectus-eq_fi@jpmchase.com; or
Credit Suisse Securities (USA) LLC, Attention: Prospectus
Department, Eleven Madison Avenue, 3rd Floor, New York, NY 10010,
by telephone at (800) 221-1037, or by email at
usa.prospectus@credit-suisse.com.
This press release shall not constitute an offer
to sell or a 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 under the securities laws of any such
state or jurisdiction.
About MyoKardia MyoKardia is a
clinical-stage biopharmaceutical company discovering and developing
targeted therapies for the treatment of serious cardiovascular
diseases. The company is pioneering a precision medicine approach
to its discovery and development efforts by (1) understanding the
biomechanical underpinnings of disease; (2) targeting the proteins
that modulate a given condition; (3) identifying patient
populations with shared disease characteristics; and (4) applying
learnings from research and clinical studies to inform and guide
pipeline growth and product advancement. MyoKardia’s initial focus
is on small molecule therapeutics aimed at the proteins of the
heart that modulate cardiac muscle contraction to address diseases
driven by excessive contraction, impaired relaxation, or
insufficient contraction. Among its discoveries are three
clinical-stage therapeutics: mavacamten (formerly MYK-461);
danicamtiv (formerly MYK-491) and MYK-224.
MyoKardia’s mission is to change the world for
people with serious cardiovascular disease through bold and
innovative science.
Forward-Looking Statements
Statements MyoKardia makes in this press release may include
statements which 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, which are usually identified by the use of
words such as “anticipates,” “believes,” “estimates,” “expects,”
“intends,” “may,” “plans,” “projects,” “seeks,” “should,” “will,”
and variations of such words or similar expressions. MyoKardia
intends these forward-looking statements 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 is making this statement for purposes of complying
with those safe harbor provisions. These forward-looking
statements, including references to MyoKardia’s expectations
regarding the clinical development of its product candidates,
including mavacamten, danicamtiv and MYK-224, completion, timing
and size of its proposed public offering, its expectations with
respect to granting the underwriters a 30-day option to purchase
additional shares and the anticipated use of proceeds therefrom,
reflect its current views about its plans, intentions,
expectations, strategies and prospects, which are based on the
information currently available to MyoKardia and on assumptions it
has made. Although MyoKardia believes that its plans, intentions,
expectations, strategies and prospects as reflected in or suggested
by those forward-looking statements are reasonable, it can give no
assurance that the plans, intentions, expectations or strategies
will be attained or achieved. 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 MyoKardia’s control including, without limitation,
risks associated with the development and regulation of its product
candidates and the effects of the ongoing COVID-19 pandemic, as
well as those set forth in its Quarterly Report on Form 10-Q for
the quarter ended March 31, 2020 and its other filings with the
SEC. Except as required by law, MyoKardia assumes no obligation to
update publicly any forward-looking statements, whether as a result
of new information, future events or otherwise.
Contacts:
Michelle Corral
Senior Director, Corporate Communications and Investor Relations
MyoKardia, Inc.
650-351-4690
ir@myokardia.com
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