Replimune Group, Inc. (NASDAQ: REPL), a clinical stage biotechnology company, has announced a proposed public offering of $125 million of shares of its common stock and pre-funded warrants to purchase shares of common stock. The company also intends to grant the underwriter a 30-day option to purchase up to an additional $18.75 million of securities from Replimune at the public offering price, less the underwriting discounts and commissions.
Leerink Partners is acting as the sole bookrunning manager for the proposed offering. The offering is subject to market and other customary closing conditions, and Replimune cannot assure when the proposed offering may be completed.
The proposed offering will be made only by means of a preliminary prospectus supplement and the accompanying prospectus. The securities will be offered by Replimune pursuant to its shelf registration statement on Form S-3, including a base prospectus, previously filed with the Securities and Exchange Commission (SEC).
Replimune, headquartered in Woburn, MA, was founded in 2015 with the mission to transform cancer treatment by pioneering the development of novel oncolytic immunotherapies. The company's proprietary RPX platform is designed to have unique dual local and systemic activity, consisting of direct selective virus-mediated killing of the tumor resulting in the release of tumor-derived antigens and altering of the tumor microenvironment to ignite a strong and durable systemic response.
The financial metrics such as the number of shares of common stock and pre-funded warrants to purchase shares of common stock and the underwriter's option to purchase additional securities, indicate the company's strategic move to raise significant capital for its operations and development of novel oncolytic immunotherapies. As a result of these announcements, the company's shares have moved -0.5% on the market, and are now trading at a price of $14.31. For the full picture, make sure to review Replimune's 8-K report.
