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Trillium Therapeutics Inc. (TRIL) has announced a public offering of 10 million common shares priced at $13.00 per share, aiming to raise approximately $130 million before expenses. The underwriters have a 30-day option to purchase an additional 1.5 million shares. The proceeds will be allocated to ongoing clinical trials for its CD47 program and general corporate purposes. The offering is expected to close around September 16, 2020, contingent upon customary closing conditions and market approvals. No shares will be sold in Canada as part of this transaction.
Trillium Therapeutics Inc. (NASDAQ/TSX: TRIL) announced a public offering of up to 8,500,000 common shares. The underwriters will have a 30-day option to purchase an additional 15% of the shares offered. Proceeds will support ongoing clinical trials, particularly for the CD47 program, and cover working capital. The offering is subject to market conditions and various approvals, and will not be available in Canada. The offering follows SEC registration to comply with U.S. securities laws.
Trillium Therapeutics announced a $25 million investment from Pfizer, purchasing 2,297,794 shares at $10.88 each. This direct offering, expected to close around September 10, 2020, aims to fund clinical trials for Trillium’s CD47 program and general corporate needs. Additionally, Pfizer's Chief Scientific Officer for Oncology, Dr. Jeff Settleman, will join Trillium's Scientific Advisory Board. The offering is subject to customary conditions, including exchange listings on the TSX and Nasdaq.
Trillium Therapeutics (TRIL) has reported encouraging updates from its dose escalation studies for TTI-622 and TTI-621. TTI-622 demonstrated a 33% objective response rate (6/18) in relapsed/refractory lymphoma, showing 50% responses at the 8 mg/kg dose. Safety assessments for TTI-622 at 8 mg/kg were completed, and the study is now escalating to 12 mg/kg. Meanwhile, TTI-621 is well tolerated at 1.4 mg/kg, with ongoing improvements in skin disease in patients with cutaneous T-cell lymphoma. Trillium plans to share further data at the upcoming American Society of Hematology meeting.
Trillium Therapeutics (NASDAQ/TSX: TRIL) reported positive advancements in their clinical studies and a strong financial position as of June 30, 2020. The company progressed to a 2.0 mg/kg dosing level in the TTI-621 study and demonstrated early monotherapy activity for TTI-622. Trillium's cash and investments totaled $130.8 million, a significant increase from $22.7 million at the end of 2019. However, the company reported a net loss of $122.5 million for the first half of 2020, compared to $12.9 million in the same period last year, largely due to a warrant liability revaluation loss.
Trillium Therapeutics Inc. (NASDAQ/TSX: TRIL) held its Annual and Special Meeting of Shareholders on June 30, 2020, announcing favorable voting results for its directors. Mr. Luke Beshar, Dr. Robert Kirkman, and Dr. Jan Skvarka received over 99% votes in favor. Ernst & Young LLP was reappointed as auditors. The shareholders also approved the 2020 omnibus equity incentive plan. Notably, Dr. Calvin Stiller and Dr. Michael Moore retired from the board. For additional details, refer to the Corporation’s Report of Voting Results dated July 6, 2020.
Trillium Therapeutics Inc. (NASDAQ/TSX: TRIL) reported Q1 2020 financial results, showcasing a net loss of $70.1 million, up from $8.0 million in Q1 2019. The company raised $117 million in funding and has $135 million in cash, providing a runway into 2022. Despite COVID-19 challenges, clinical studies for TTI-621 and TTI-622 are progressing, with ongoing dose escalations. The company aims for a June 30 shareholder approval for a new Omnibus Incentive Plan to convert cash-settled DSUs to equity-settled DSUs.
Trillium Therapeutics (NASDAQ/TSX: TRIL) has initiated an at-the-market equity program allowing the sale of up to $50 million in common shares, managed by Evercore Group. Sales will occur on NASDAQ at prevailing market prices. Proceeds are intended for working capital, including advancing its SIRPaFc program. The company has filed a prospectus supplement related to this program. Share sales on TSX will comply with listing requirements. Forward-looking statements in the release caution investors about potential risks and uncertainties.