Kura Oncology Announces Pricing of $100 Million Public Offering of Common Stock
June 18 2019 - 10:31PM
Kura Oncology, Inc. (Nasdaq: KURA), a clinical-stage
biopharmaceutical company focused on the development of precision
medicines for oncology, today announced the pricing of an
underwritten public offering of 5,900,000 shares of its common
stock at a price to the public of $17.00 per share. Kura has
granted the underwriters a 30-day option to purchase up to an
additional 885,000 shares of its common stock. The offering is
expected to close on or about June 21, 2019, subject to customary
closing conditions. The gross proceeds to Kura from the offering,
excluding any exercise by the underwriters of their 30-day option
to purchase additional shares, are expected to be $100.3 million,
before deducting underwriting discounts and commissions and other
offering expenses payable by Kura.
SVB Leerink and Cowen are acting as joint
book-running managers for the offering. Wedbush PacGrow and
Oppenheimer & Co. are acting as co-lead managers, and H.C.
Wainwright & Co. is acting as co-manager for the offering.
The securities described above are being offered
by Kura pursuant to a shelf registration statement on Form S-3,
including a base prospectus, that was previously filed by Kura with
the Securities and Exchange Commission (the “SEC”) and that was
declared effective on November 21, 2018. A final
prospectus supplement and accompanying prospectus relating to the
offering will be filed with the SEC and will be available for free
on the SEC’s website located at http://www.sec.gov. Copies of
the final prospectus supplement and the accompanying prospectus
relating to the offering, when available, may be obtained from SVB
Leerink LLC, Attention: Syndicate Department, One Federal Street,
37th Floor, Boston, MA 02110, by telephone at (800) 808-7525, ext.
6132, or by email at syndicate@svbleerink.com, or Cowen and
Company, LLC c/o Broadridge Financial Services, 1155 Long Island
Avenue, Edgewood, NY 11717, Attention: Prospectus Department, or by
telephone at (631) 592-5973, or by email at
PostSaleManualRequests@broadridge.com.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy these securities,
nor shall there be any sale of these securities in any state or
other jurisdiction in which such offer, solicitation or sale would
be unlawful prior to the registration or qualification under the
securities laws of any such state or other jurisdiction.
About Kura Oncology
Kura Oncology is a clinical-stage
biopharmaceutical company committed to realizing the promise of
precision medicines for the treatment of cancer. Kura’s pipeline
consists of small molecule drug candidates that target cancer
signaling pathways where there is a strong scientific and clinical
rationale to improve outcomes by identifying those patients most
likely to benefit from treatment. Kura’s lead drug candidate is
tipifarnib, a farnesyl transferase inhibitor, for which Kura has
initiated a registration-directed trial in recurrent or metastatic
patients with HRAS mutant HNSCC. In addition, tipifarnib is being
evaluated in multiple other Phase 2 clinical trials in solid tumor
and hematologic indications. Kura’s pipeline also includes KO-947,
an ERK inhibitor, currently in a Phase 1 dose-escalation trial, and
KO-539, a menin-MLL inhibitor, which has been cleared to begin a
Phase 1 clinical trial.
Forward-Looking Statements
Statements contained in this press release
regarding matters that are not historical facts are
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. Such
forward-looking statements include, without limitation, statements
regarding the completion, timing and size of the offering.
Because such statements are subject to risks and uncertainties,
actual results may differ materially from those expressed or
implied by such forward-looking statements. Words such as
“believes,” “anticipates,” “plans,” “expects,” “intends,” “will,”
“goal,” “potential” and similar expressions are intended to
identify forward-looking statements. These forward-looking
statements are based upon Kura’s current expectations and involve
assumptions that may never materialize or may prove to be
incorrect. Actual results and the timing of events could
differ materially from those anticipated in such forward-looking
statements as a result of various risks and uncertainties, which
include, without limitation, risks associated with market
conditions and the satisfaction of closing conditions related to
the offering, as well as risks and uncertainties associated with
Kura’s business and finances in general, and the other risks
described in Kura’s quarterly report on Form 10-Q for the
quarterly period ended March 31, 2019 and other filings
with the SEC. All forward-looking statements contained
in this press release speak only as of the date on which they were
made. Kura undertakes no obligation to update such statements to
reflect events that occur or circumstances that exist after the
date on which they were made.
Contacts
Company:Pete De SpainVice President, Investor Relations
&Corporate Communications(858)
500-8803pete@kuraoncology.com
Investors:Robert H. UhlManaging DirectorWestwicke Partners,
LLC(858) 356-5932robert.uhl@westwicke.com
Media:Jason SparkManaging DirectorCanale Communications(619)
849-6005jason@canalecomm.com
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