Global Blood Therapeutics Announces Full Exercise of Underwriter’s Option to Purchase Additional Shares
March 12 2018 - 8:00AM
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
that the underwriter of its previously announced underwritten
public offering has exercised in full its option to purchase an
additional 600,000 shares of GBT’s common stock. Including this
option exercise, total gross proceeds to GBT from the offering of
an aggregate of 4,600,000 shares at a price to the public of $54.00
per share will be approximately $248.4 million, before deducting
the underwriting discounts and commissions and other estimated
offering expenses payable by GBT. The offering is expected to close
on or about March 13, 2018, subject to customary closing
conditions.
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 the sole book-running manager for
the offering.
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 have been filed
with the SEC and are available on the SEC’s website at www.sec.gov.
A final prospectus supplement and accompanying prospectus will be
filed with the SEC. 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 gross proceeds,
completion of the offering (including the shares subject to the
exercise of the underwriter’s option to purchase additional
shares), our use of the offering proceeds, 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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