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Five Prime Therapeutics, Inc. (Nasdaq: FPRX) has successfully closed its upsized underwritten public offering, issuing 8,280,000 shares of common stock. This includes 1,080,000 shares from the underwriters' option, generating approximately $173.9 million in gross proceeds before fees and expenses. The offering utilized a previously filed shelf registration statement with the SEC. Cowen and SVB Leerink served as joint book-running managers for the offering, while Wedbush PacGrow acted as co-manager.
Five Prime Therapeutics (FPRX) announced the pricing of a public offering of 7,200,000 shares at $21.00 per share, up from an initial offering of 5,000,000 shares. The estimated net proceeds are approximately $141.9 million, to be used for the clinical development of bemarituzumab and FPT155, advancing FPA157, and general corporate purposes. The offering is expected to close on November 17, 2020, subject to customary conditions. Cowen and SVB Leerink are joint book-running managers for the offering.
Five Prime Therapeutics (FPRX) presented preclinical data for its anti-CCR8 antibody FPA157 at the SITC 35th Anniversary Annual Meeting. The research indicated that FPA157 effectively depletes CCR8+ T regulatory cells within tumors while preserving peripheral Tregs. Key findings suggest it can enhance anti-tumor immune responses and stimulate natural killer cell activity. This is the first public disclosure regarding FPA157, signaling a strategic advancement in Five Prime's immuno-oncology pipeline, with ongoing IND-enabling studies planned for clinical evaluation.
Five Prime Therapeutics (FPRX) has announced a public offering of 5,000,000 shares of its common stock, with an option for underwriters to purchase an additional 750,000 shares. The proceeds will be used to support ongoing clinical development of key therapies, including bemarituzumab and FPT155, as well as to advance late-stage research programs and for general corporate needs. The offering will be conducted under an effective "shelf" registration statement filed with the SEC, with Cowen and SVB Leerink serving as joint book-running managers.
Five Prime Therapeutics, Inc. (NASDAQ: FPRX) announced positive topline results from the Phase 2 FIGHT trial, evaluating bemarituzumab combined with mFOLFOX6 in patients with FGFR2b-positive advanced gastric cancer. The trial met all efficacy endpoints, with statistical significance in progression-free survival, overall survival, and overall response rate. Although adverse events were more frequent in the treatment group, no severe retinal issues were reported. The company plans to further explore bemarituzumab's potential across various cancers.
Five Prime Therapeutics (NASDAQ: FPRX) reported its Q3 2020 results, highlighting upcoming milestones in their clinical pipeline. They expect to release top-line data from the FIGHT Phase 2 trial for gastric cancer by year-end, alongside data for FPT155 monotherapy. The company noted a cash position of $112.9 million as of September 30, 2020, down from $157.9 million in December 2019, largely due to operating expenses outpacing revenues. Q3 revenue declined 31% to $2.0 million, whereas R&D expenses fell 20%. The net loss narrowed to $26.4 million from $36.1 million in Q3 2019.
Five Prime Therapeutics (NASDAQ: FPRX) announced a virtual poster presentation showcasing preclinical data from its FPA157 program targeting CCR8 at the SITC Annual Meeting from November 9-14, 2020. The poster, titled 'Development of FPA157,' highlights its design to deplete tumor-infiltrating T regulatory cells to enhance anti-tumoral immune responses. This program is currently undergoing IND-enabling studies, emphasizing Five Prime's commitment to innovative immuno-oncology therapies aimed at solid tumors.
Five Prime Therapeutics, Inc. (NASDAQ: FPRX) will announce its third quarter 2020 operational and financial results on November 3, 2020, post-market. A conference call will be held at 4:30 p.m. ET to discuss these results and offer a business update. The audio can be accessed on Five Prime's website or via telephone. The company is focused on developing innovative protein therapeutics for cancer, with ongoing collaborations and promising product candidates in clinical stages. For more details, visit www.fiveprime.com.