Proceeds from offering to be used for development of PX-866 and ONT-10
By Devika Patel
Knoxville, Tenn., March 29 - Oncothyreon Inc. said it priced a $47 million public offering of stock with a $7.1 million greenshoe. The offering was announced March 28.
The company will sell 11.75 million common shares at $4.00 per share. The price per share reflects an 8.05% discount to the March 21 closing share price of $4.35.
Cowen and Co., LLC is the bookrunner, and Stifel, Nicolaus & Co., Inc. is the co-manager.
Settlement is expected April 4.
Proceeds will be used for development of PX-866, Oncothyreon's irreversible pan-isoform PI-3 kinase inhibitor, and ONT-10, Oncothyreon's proprietary follow-on vaccine to Stimuvax.
Oncothyreon is a Seattle biotechnology company.
| Issuer: | Oncothyreon Inc.
|
| Issue: | Common stock
|
| Amount: | $47 million
|
| Greenshoe: | $7.1 million
|
| Shares: | 11.75 million
|
| Price: | $4.00
|
| Warrants: | No
|
| Bookrunner: | Cowen and Co., LLC
|
| Announcement date: | March 28
|
| Pricing date: | March 29
|
| Settlement date: | April 4
|
| Stock symbol: | Nasdaq: ONTY
|
| Stock price: | $4.35 at close March 19
|
| Market capitalization: | $180.99 million
|
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