Date: 2017-09-25
Type of information: Private placement
Company: Iovance Biotherapeutics (USA - CA)
Investors:
Amount: $57.5 million.
Funding type: private placement
Planned used:
- Iovance intends to use the net proceeds from this offering to fund its current and future clinical trials for its product candidates, including its ongoing Phase 2 clinical trials of LN-144, TIL for treatment of metastatic melanoma, and LN-145, TIL for the treatment of cervical and head and neck cancers, to fund activities related to commercial scale-up of the company’s TIL product manufacturing operations; and for working capital and other general corporate purposes.
Others:
- • On September 25, 2017, Iovance Biotherapeutics announced the closing of its public offering of 8,846,154 shares of its common stock at a public offering price of $6.50 per share, before underwriting discounts. The shares of common stock issued and sold in the offering at the closing include 1,153,846 shares issued upon the exercise in full by the underwriters of their option to purchase additional shares at the public offering price less the underwriting discount.
- The gross proceeds from the offering, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by Iovance, are approximately $57.5 million.
- • On September 20, 2017, Iovance Biotherapeutics announced the pricing of an underwritten public offering of 7,692,308 shares of its common stock at a public offering price of $6.50 per share. The gross proceeds from the offering, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by Iovance, are expected to be $50 million. In addition, Iovance has granted the underwriters a 30-day option to purchase up to 1,153,846 additional shares of common stock at the public offering price, less the underwriting discounts and commissions. The offering is expected to close on or about September 25, 2017, subject to customary closing conditions.
- • On September 19, 2017, Iovance Biotherapeutics announced that it intends to offer and sell $50 million of its common stock, subject to market and other conditions, in an underwritten public offering. All of the shares in the offering are to be sold by Iovance. Jefferies LLC and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering and Oppenheimer & Co is acting as the lead manager.
Therapeutic area: Cancer - Oncology
Is general: Yes
