Date: 2018-01-29
Type of information: Private placement
Company: Iovance Biotherapeutics (USA - CA)
Investors:
Amount: $172.5 million
Funding type: private placement
Planned used:
- Iovance intends to use the proceeds from this offering to fund its ongoing clinical trials for its current 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 its planned clinical trials for its current product candidates, including a planned Phase 2 clinical trial of LN-145 for the treatment of non-small cell lung cancer (NSCLC), in collaboration with MedImmune, as well as the NSCLC study in collaboration with the H. Lee Moffitt Cancer Center and Research Institute, to fund its planned clinical trials in multiple solid tumor cancers with The University of Texas M.D. Anderson Cancer Center, to fund additional clinical trials to move TIL therapy to an earlier line of treatment, to fund activities related to commercial scale-up of Iovance’s third party manufacturing operations and for working capital and other general corporate purposes.
Others:
- • On January 29, 2018, Iovance Biotherapeutics announced the closing of an underwritten public offering of 15,000,000 shares of its common stock at a public offering price of $11.50 per share. The gross proceeds from the offering, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by Iovance, are approximately $172.5 million. The shares of common stock issued and sold in the offering include 1,956,521 shares issued upon the exercise in full by the underwriter of their option to purchase additional shares at the public offering price, less the underwriting discount.
- • On January 25, 2018, Iovance Biotherapeutics announced the pricing of an underwritten public offering of 13,043,479 shares of its common stock at a public offering price of $11.50 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 $150 million. In addition, Iovance has granted the underwriters a 30-day option to purchase up to 1,956,521 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 January 29, 2018, subject to customary closing conditions.
- • On January 24, 2018, Iovance Biotherapeutics announced that it intends to offer and sell $125 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. Iovance intends to grant the underwriters a 30-day option to purchase up to $18.75 million of common stock at the public offering price, less the underwriting discounts and commissions. Jefferies LLC is acting as sole book-running manager for the offering.
- The shares of common stock described above are being offered by Iovance pursuant to its shelf registration statement on Form S-3 previously filed and declared effective by the Securities and Exchange Commission (the SEC).
Therapeutic area: Cancer - Oncology
Is general: Yes
