Company Website:
http://www.ignyta.com
SAN DIEGO -- (Business Wire)
Ignyta, Inc. (Nasdaq: RXDX) ("Ignyta"), a biotechnology company focused
on precision medicine in oncology, today announced that it has commenced
an underwritten public offering of $125,000,000 of shares of its common
stock. In connection with this offering, Ignyta expects to grant the
underwriters a 30-day option to purchase up to an additional $18,750,000
of shares of its common stock at the public offering price, less the
underwriting discounts and commissions. The offering is subject to
market and other conditions, and there can be no assurances as to
whether or when the offering may be completed, or as to the actual size
or terms of the offering.
Ignyta anticipates using the net proceeds from the offering to fund
research and development activities for its development programs,
including, but not limited to, the clinical development and
pre-commercialization activities of entrectinib, the conduct of ongoing
clinical and pre-clinical development of other pipeline assets, the
completion of development activities related to the diagnostic lab, and
for working capital and other general corporate purposes.
J.P. Morgan Securities LLC and Jefferies LLC are acting as joint
book-running managers for the offering.
The shares described above are being offered by Ignyta pursuant to a
shelf registration statement on Form S-3, including a base prospectus,
that was previously filed by Ignyta with the Securities and Exchange
Commission (the “SEC”) and that became automatically effective on
October 18, 2017. A preliminary prospectus supplement and accompanying
prospectus relating to the offering will be filed with the SEC and will
be available on the SEC’s website located at http://www.sec.gov.
Copies of the preliminary prospectus supplement and the accompanying
prospectus relating to this offering, when available, may be obtained
from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866)
803-9204, or by email at prospectus-eq_fi@jpmchase.com;
or from Jefferies LLC, Attention: Equity Syndicate Prospectus
Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by
telephone at (877) 547-6340, or by email at Prospectus_Department@Jefferies.com.
The final terms of the offering will be disclosed in a final prospectus
supplement to be filed with the SEC.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to the registration or qualification under the
securities laws of any such jurisdiction.
About Ignyta, Inc.
Blazing a New Future for Patients with Cancer™
At Ignyta, we work tirelessly on behalf of patients with cancer to offer
potentially life-saving, precisely targeted therapeutics (Rx) guided by
diagnostic (Dx) tests. Our integrated Rx/Dx strategy allows us to enter
uncharted territory, illuminating the molecular and immunological
drivers of cancer and quickly advancing treatments to address them. This
approach embraces even those patients with rare cancers, who have the
highest unmet need and who may otherwise not have access to effective
treatment options. With our pipeline of potentially first-in-class or
best-in-class precision medicines, we are pursuing the ultimate goal of
not just shrinking tumors, but eradicating cancer relapse and recurrence
in precisely defined patient populations.
Forward-Looking Statements:
This press release contains forward-looking statements about Ignyta as
that term is defined in Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Statements in this
press release that are not purely historical are forward-looking
statements. Such forward-looking statements include, among other things,
references to Ignyta's expectations regarding the completion, timing and
size of its proposed public offering, its expectations with respect to
granting the underwriters a 30-day option to purchase additional shares
and the anticipated use of proceeds therefrom. Among the factors that
could cause actual results to differ materially from those indicated in
the forward-looking statements are risks and uncertainties associated
with market conditions and the satisfaction of customary closing
conditions related to the proposed offering, as well as risks and
uncertainties associated with Ignyta's business and finances in general.
These forward-looking statements are made as of the date of this press
release, and Ignyta assumes no obligation to update the forward-looking
statements, or to update the reasons why actual results could differ
from those projected in the forward-looking statements. Investors should
consult all of the information set forth herein and should also refer to
the risk factor disclosure set forth in the reports and other documents
the company files with the SEC available at www.sec.gov,
including without limitation Ignyta's Annual Report on Form 10-K for the
year ended December 31, 2016 and subsequent Quarterly Reports on Form
10-Q.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171018006564/en/
Contacts:
Ignyta, Inc.
Jacob Chacko, M.D.
CFO
858-255-5959
jc@ignyta.com
Source: Ignyta, Inc.
© 2024 Canjex Publishing Ltd. All rights reserved.