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Turning Point Therapeutics (TPTX) announced the full exercise of underwriters' options to purchase an additional 812,500 shares at $60.00 each, completing a public offering that initially sold 5,416,667 shares. The total gross proceeds from this offering are expected to reach approximately $373.8 million before fees and expenses. The closing date for the additional shares is anticipated around May 28, 2020. The offering is conducted under a previously filed shelf registration statement with the SEC, ensuring compliance with regulations.
Turning Point Therapeutics (TPTX) announced a public offering of 5,416,667 shares at $60.00 each, aiming to raise approximately $325 million in gross proceeds. The offering is set to close around May 21, 2020, pending customary conditions. The underwriters, including Goldman Sachs and SVB Leerink, have a 30-day option to purchase an additional 812,500 shares. This offering is made under an effective shelf registration statement with the SEC. Proceeds are likely aimed at advancing development in precision oncology therapies, particularly for their lead candidate, repotrectinib.
Turning Point Therapeutics (Nasdaq: TPTX) announced a public offering to sell $250 million of common stock, with an option for underwriters to purchase an additional 15% of shares. The offering is subject to market conditions and could be completed at an unspecified time. Goldman Sachs, SVB Leerink, and Guggenheim Securities are managing the offering, which is registered under an SEC shelf registration statement. The press release highlights the company's commitment to developing innovative cancer therapies, particularly its lead drug, repotrectinib, which targets ROS1 and TRK drivers.
Turning Point Therapeutics (NASDAQ: TPTX) announced that the FDA has granted Fast Track designation for repotrectinib, targeting ROS1-positive advanced NSCLC patients not previously treated with a ROS1 TKI. The Phase 1 TRIDENT-1 study shows a 91% overall response rate and a median duration of response of 23.1 months. Ongoing site activations for the Phase 2 study are at 50% completion. Financially, the company reported Q1 operating expenses of $62.6 million, affected by a one-time stock-based compensation charge. Cash reserves of $381 million are expected to sustain operations into 2022.
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