Global Blood Therapeutics Announces Proposed Public Offering of Common Stock
March 08 2018 - 4:01PM
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
a registered offering of 3,500,000 shares of its common
stock. The offering is expected to close on or about March
13, 2018, subject to customary closing conditions. In
addition, GBT has granted the underwriter a 30-day option to
purchase up to 525,000 additional shares of its common stock.
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, to build and expand its commercial
organization in preparation for the potential approval and launch
of voxelotor, to fund its other research and development
activities, and for working capital and general corporate purposes.
GBT may also use a portion of the net proceeds to in-license,
acquire or invest in new business, technology or assets, although
it has no material agreements, commitments or understandings in
place.
Wells Fargo Securities, LLC is acting as the sole book-running
manager for the offering.
The underwriter proposes to offer the shares of common stock
from time to time to purchasers directly or through agents, or
through brokers in brokerage transactions on the Nasdaq Global
Select Market, or to dealers in negotiated transactions or in a
combination of such methods of sale, at a fixed price or prices,
which may be changed, or at market prices prevailing at the time of
sale, at prices related to such prevailing market prices or at
negotiated prices.
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 will be filed with
the SEC and will be available on the SEC’s website at www.sec.gov.
When available, copies of the preliminary prospectus supplement and
the accompanying prospectus may also be obtained from Wells Fargo
Securities, LLC, Attention: Equity Syndicate Department, 375 Park
Avenue, New York, New York 10152 or by telephone at (800) 326-5897,
or by email at cmclientsupport@wellsfargo.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 TherapeuticsGBT is a
clinical-stage biopharmaceutical company determined to discover,
develop and deliver innovative treatments that provide hope to
underserved patient communities. GBT’s lead product candidate is
voxelotor (formerly known as GBT440), an oral, once-daily therapy
that modulates hemoglobin’s affinity for oxygen, which GBT believes
inhibits hemoglobin polymerization in sickle cell disease (SCD).
GBT is developing voxelotor for SCD.
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), our ability to build our sales and marketing
organization in preparation for a potential launch of voxelotor,
regulatory review and actions relating to voxelotor, the potential
expansion of our pipeline of future product candidates, 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, 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@gbt.com
Julie Normart (media)W2O Pure 415-946-1087media@gbt.com
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