Date: 2018-10-17
Type of information: Private placement
Company: Iovance Biotherapeutics (USA - CA)
Investors:
Amount: $252 million
Funding type: private placement
Planned used:
- Iovance intends to use the proceeds from this offering to fund the expansion of its organization to support the potential commercial launch of lifileucel, to fund its commercial manufacturing capabilities and facilities, to fund its ongoing clinical trials for its current product candidates, including its on-going Phase 2 clinical trials of LN-144, TIL for the 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 its ongoing Phase 2 clinical trial of LN-145 for the treatment of non-small cell lung cancer, or NSCLC, in collaboration with MedImmune, and its ongoing Phase 2 clinical trials of Iovance TIL as an early-line therapy alone or in combination with pembrolizumab in melanoma, head and neck cancer, and NSCLC, and for other general corporate purposes. Additional indications may be explored with the use of proceeds.
Others:
- • On October 17, 2018, Iovance Biotherapeutics announced the closing of an underwritten public offering of 25,300,000 shares of its common stock at a public offering price of $9.97 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 $252.2 million. The shares of common stock issued and sold in the offering include 3,300,000 shares issued upon the exercise in full by the underwriter of its option to purchase additional shares at the public offering price, less the underwriting discounts and commissions.
- • On October 12, 2018, Iovance Biotherapeutics announced the pricing of an underwritten public offering of 22,000,000 shares of its common stock at a public offering price of $9.97 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 $219.3 million. In addition, Iovance has granted the underwriters a 30-day option to purchase up to 3,300,000 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 October 16, 2018, subject to customary closing conditions.
- • On October 11, 2018, Iovance Biotherapeutics announced that it intends to offer and sell shares 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 underwriter a 30-day option to purchase up to an additional 15% of the shares 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
