Oncorus Announces Pricing of Public Offering of Common Stock
February 11 2021 - 10:15PM
Oncorus, Inc. (Nasdaq: ONCR), a clinical stage biopharmaceutical
company developing next-generation, systemically active viral
immunotherapies to transform outcomes for cancer patients, today
announced the pricing of its underwritten public offering of
3,000,000 shares of its common stock at a price to the public of
$19.00 per share. All shares of common stock in the offering are
being offered by Oncorus. The gross proceeds to Oncorus from the
offering, before deducting underwriting discounts and commissions
and offering expenses, are expected to be $57.0 million. In
addition, Oncorus has granted the underwriters a 30-day option to
purchase up to an additional 450,000 shares of common stock at the
public offering price, less underwriting discounts and commissions.
The offering is expected to close on February 17, 2021, subject to
satisfaction of customary closing conditions.
Jefferies, Evercore ISI and Piper Sandler are acting as joint
book-running managers for the offering.
A registration statement relating to these securities has been
filed with the Securities and Exchange Commission (SEC) and
was declared effective on February 11, 2021. This press release
shall not constitute an offer to sell or a solicitation of an offer
to buy, nor shall there be any offer or 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 such state or jurisdiction.
The offering is being made only by means of a prospectus. Copies
of the final prospectus relating to the offering, when available,
may be obtained from: Jefferies LLC, Attention: Equity Syndicate
Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, New
York 10022, via telephone at (877) 821-7388 or via email at
Prospectus_Department@Jefferies.com; Evercore Group L.L.C.,
Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor,
New York, New York 10055, or by telephone at (888) 474-0200, or by
email at ecm.prospectus@evercore.com; Piper Sandler & Co.,
Attention: Prospectus Department, 800 Nicollet Mall, J12S03,
Minneapolis, Minnesota 55402, via telephone at (800) 747-3924 or
via email at prospectus@psc.com.
About Oncorus
At Oncorus, we are focused on driving innovation to deliver
next-generation, systemically active viral immunotherapies to
transform outcomes for cancer patients. We are advancing a
portfolio of intratumorally and intravenously administered viral
immunotherapies for multiple indications with significant unmet
needs based on our oncolytic Herpes Simplex Virus (oHSV) Platform
and Synthetic Virus Platform. Designed to deliver next-generation
viral immunotherapy impact, our oHSV Platform improves upon key
characteristics of this therapeutic class to enhance potency
without sacrificing safety, including greater capacity to encode
transgenes to drive systemic immunostimulatory activity, retention
of full replication competency to enable high tumor-killing
potency, and orthogonal safety strategies to restrict viral
activity in tumor cells. Oncorus’ lead oHSV program, ONCR-177, is
designed to be directly administered into a tumor, resulting in
high local concentrations of the therapeutic agent, as well as low
systemic exposure to the therapy, which we believe could
potentially limit systemic toxicities.
Cautionary Note Regarding Forward-Looking
Statements
Statements contained in this press release regarding matters
that are not historical facts are “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995, as amended. Words such as "anticipates," "believes,"
"expects," "intends," “plans,” “potential,” "projects,” “would” and
"future" or similar expressions are intended to identify
forward-looking statements. Examples of these forward-looking
statements include statements concerning the expected gross
proceeds, timing, satisfaction of closing conditions and our
ability to complete the offering. Any forward-looking statements in
this press release are based on management's current expectations
and beliefs and are subject to a number of risks, uncertainties and
important factors that may cause actual events or results to differ
materially from those expressed or implied by any forward-looking
statements contained in this press release, including, without
limitation: the impact of COVID-19 on Oncorus’ operations and the
timing and anticipated results of its ongoing and planned
preclinical studies and clinical trials; the risk that the
preliminary results of preclinical studies or clinical trials may
not be predictive of future results in connection with future
clinical trials; Oncorus’ ability to successfully demonstrate the
safety and efficacy of ONCR-177 and obtain regulatory approval and
that Oncorus’ other preclinical or clinical programs do not advance
or result in approved products on a timely or cost effective basis
or at all; and Oncorus’ ability to obtain, maintain and protect its
intellectual property. These and other risks and uncertainties are
described in greater detail in the section entitled "Risk Factors"
in Oncorus’ Registration Statement on Form S-1 filed with the SEC
on February 9, 2021, as well as discussions of potential risks,
uncertainties, and other important factors in the other filings
that Oncorus makes with the SEC from time to time.
Any forward-looking statements represent Oncorus’ views only as
of the date of this press release and should not be relied upon as
representing its views as of any subsequent date. Oncorus
explicitly disclaims any obligation to update any forward-looking
statements, whether as a result of new information, future events
or otherwise. No representations or warranties (expressed or
implied) are made about the accuracy of any such forward-looking
statements.
Investor Contact:Alan Lada Solebury Trout
617-221-8006 alada@soleburytrout.com
Media Contact:Liz
Meloneliz.melone@oncorus.com
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