Date: 2017-01-10
Type of information: Private placement
Company: Loxo Oncology (USA - CA)
Investors:
Amount: $138 million
Funding type: private placement
Planned used: Loxo Oncology intends to use the net proceeds from this offering for early commercialization activities for larotrectinib, new and ongoing research and development activities, and general corporate purposes, which may include increased working capital, acquisitions or investments in businesses, products or technologies, and capital expenditures.
Others: * On January 10, 2017, Loxo Oncology announced the closing of its previously announced underwritten public offering of 4,450,500 shares of common stock at a public offering price of $31.00 per share, which included the exercise in full by the underwriters of their option to purchase 580,500 additional shares of common stock. Gross proceeds to Loxo Oncology from this offering were approximately $138 million. Morgan Stanley , Citigroup and Cowen and Company acted as the joint book-running managers for the offering. Stifel acted as lead manager. * On January 5, 2017, Loxo Oncology, Inc. (Nasdaq:LOXO), a biopharmaceutical company innovating the development of highly selective medicines for patients with genetically defined cancers, today announced the pricing of its underwritten public offering of 3,870,000 shares of common stock at a public offering price of $31.00 per share. Gross proceeds to Loxo Oncology from this offering are expected to be approximately $120 million. Loxo Oncology also has granted the underwriters a 30-day option to purchase up to an additional 580,500 shares of its common stock offered in the public offering at the public offering price less the underwriting discounts and commissions. All of the shares will be offered and sold by Loxo Oncology . * On January 4, 2017, Loxo Oncology announced that it intends to offer shares of its common stock in an underwritten public offering. Loxo Oncology also expects to grant the underwriters a 30-day option to purchase additional shares of its common stock offered in the public offering at the public offering price less the underwriting discounts and commissions. All of the shares will be offered and sold by Loxo Oncology .
The public offering was made pursuant to a shelf registration statement on Form S-3 that was filed by Loxo Oncology with the Securities and Exchange Commission on November 2, 2016 and declared effective by the SEC on November 16, 2016. A final prospectus supplement relating to and describing the terms of the offering was filed with the SEC on January 5, 2017
The offering is expected to close on January 10, 2017 , subject to customary closing conditions.
The public offering is being made pursuant to a shelf registration statement on Form S-3 that was filed by Loxo Oncology with the Securities and Exchange Commission ("SEC") on November 2, 2016 and declared effective by the SEC on November 16, 2016. A final prospectus supplement relating to and describing the terms of the offering will be filed with the SEC.
Morgan Stanley, Citigroup and Cowen and Company are acting as joint book-running managers for the offering. The offering is subject to market and other conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Therapeutic area: Cancer - Oncology
