Kura Oncology Announces Pricing of $125 Million Public Offering of Common Stock
May 06 2020 - 8:00AM
Kura Oncology, Inc. (Nasdaq: KURA), a clinical-stage
biopharmaceutical company committed to realizing the promise of
precision medicines for the treatment of cancer, today announced
the pricing of an underwritten public offering of 9,100,000 shares
of its common stock at a price to the public of $13.75 per share.
The gross proceeds to Kura from the offering, before deducting
underwriting discounts and commissions and other offering expenses
payable by Kura, are expected to be approximately $125.1 million.
In addition, Kura has granted the underwriters a 30-day option to
purchase up to an additional 1,365,000 shares of common stock. The
offering is expected to close on or about May 8, 2020, subject to
customary closing conditions.
SVB Leerink, Cowen and Credit Suisse are acting
as joint bookrunning managers in the offering. JMP Securities and
H.C. Wainwright & Co. are acting as co-managers 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 August 28, 2019. 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.
6218, or by email at syndicate@svbleerink.com; Cowen and Company,
LLC c/o Broadridge Financial Services, 1155 Long Island Avenue,
Edgewood, NY 11717, or by email at
PostSaleManualRequests@broadridge.com, or by phone at (833)
297-2926; or Credit Suisse Securities (USA) LLC, Attention:
Prospectus Department, Eleven Madison Avenue, 3rd Floor,
New York, NY 10010, or by telephone at (800) 221-1037, or by
email at usa.prospectus@credit-suisse.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 two wholly-owned 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 most
advanced drug candidate is tipifarnib, a potent, selective and
orally bioavailable farnesyl transferase inhibitor currently in a
registration-directed trial in patients with recurrent or
metastatic HRAS mutant head and neck squamous cell carcinoma
(HNSCC). Kura’s pipeline is also highlighted by KO-539, a
potentially first-in-class, potent and selective inhibitor of the
menin-MLL protein-protein interaction currently in a Phase 1/2A
clinical trial in patients with relapsed/refractory AML.
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, risks and uncertainties
associated with Kura’s business and finances in general, risks
associated with the COVID-19 global pandemic, and the other risks
described in Kura’s quarterly report on Form 10-Q for the quarterly
period ended March 31, 2020 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 ICR(858)
356-5932robert.uhl@westwicke.com
Media:Jason SparkManaging DirectorCanale Communications(619)
849-6005jason@canalecomm.com
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