Deal prices at $17.00 each, on top of $14.00 to $16.00 range targeted
By Susanna Moon
Chicago, July 18 - OncoMed Pharmaceuticals, Inc. said it priced its $81.6 million initial public offering of stock with Jefferies LLC and Leerink Swann as joint bookrunners. The deal includes a 30-day option to purchase up to 720,000 more shares.
The company will sell 4.8 million shares at $17.00 per share, which came above the $14.00 to $16.00 range announced on July 17.
The shares are expected to begin trading on the Nasdaq on July 18.
Proceeds will be used for clinical expenditures to advance demcizumab through phase 2 clinical trials, clinical and manufacturing expenditures to advance a bispecific antibody through phase 2 clinical trials, clinical and manufacturing expenditures to advance an antibody targeting the RSPO/LGR pathway through phase 1 clinical trials, research and drug discovery activities, working capital and general corporate expenditures.
The biopharmaceutical company is based in Redwood City, Calif.
| Issuer: | OncoMed Pharmaceuticals, Inc.
|
| Issue: | Initial public offering of stock
|
| Amount: | $81.6 million
|
| Greenshoe: | For 720,000 more shares
|
| Shares: | 4.8 million
|
| Price: | $17.00
|
| Warrants: | No
|
| Bookrunners: | Jefferies and Leerink Swann
|
| Co-managers: | Piper Jaffray and BMO Capital Markets
|
| Pricing date: | July 18
|
| Stock symbol: | Nasdaq: OMED
|
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