Receptos Announces Proposed Underwritten Public Offering of Common Stock
June 17 2014 - 3:08PM
Receptos, Inc. (Nasdaq:RCPT), a biopharmaceutical company
developing therapeutic candidates for the treatment of immune and
metabolic diseases, announced today that it intends to offer shares
of its common stock in an underwritten public offering. All shares
of common stock to be sold in the offering will be offered by
Receptos. The offering is subject to market conditions and
there can be no assurance as to whether or when the offering may be
completed, or as to the actual size or terms of the offering.
Receptos intends to use the net proceeds received from this
offering to fund continued development of its product candidate
RPC1063 in ongoing clinical trials for relapsing multiple sclerosis
and ulcerative colitis, development of its in-licensed product
candidate RPC4046 in a clinical trial for eosinophilic esophagitis,
other ongoing preclinical and research programs and for general
corporate purposes including working capital.
Credit Suisse Securities (USA) LLC, Leerink Partners LLC and BMO
Capital Markets Corp. are acting as joint book-running managers for
the offering. Wedbush PacGrow Life Sciences and Nomura Securities
International, Inc. are acting as co-managers.
A registration statement relating to these securities has been
filed with the SEC, but has not yet become effective. The offering
will be made only by means of a prospectus. Copies of the
preliminary prospectus relating to and describing the terms of the
offering may be obtained from Credit Suisse Securities (USA) LLC,
Attention: Prospectus Department, One Madison Avenue, New York, NY
10010, Telephone: (800) 221-1037, Email:
newyork.prospectus@credit-suisse.com; from Leerink Partners LLC,
Attention: Syndicate Department, One Federal Street, 37th Floor,
Boston, MA 02110, Telephone: (800) 808-7525, Email:
syndicate@leerink.com; or from BMO Capital Markets Corp.,
Attention: Equity Syndicate Department, 3 Times Square, New
York, NY 10036, Telephone: (800) 414-3627, Email:
bmoprospectus@bmo.com.
These securities may not be sold nor may offers to buy be
accepted prior to the time the registration statement becomes
effective. 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 jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such state or jurisdiction.
About Receptos
Receptos is a biopharmaceutical company developing therapeutic
candidates for the treatment of immune and metabolic diseases. The
Company's lead program, RPC1063, is a sphingosine 1-phosphate 1
receptor (S1P1R) small molecule modulator candidate for immune
indications, including relapsing multiple sclerosis (RMS) and
inflammatory bowel disease (IBD). The Company is also developing
RPC4046, an anti-interleukin-13 (IL-13) antibody for an
allergic/immune-mediated orphan disease, eosinophilic esophagitis
(EoE). Receptos has established expertise in high resolution
protein crystal structure determination, biology and drug discovery
for G-protein-coupled receptors (GPCRs).
Forward Looking Statements
Statements contained in this release, other than statements of
historical fact, constitute "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
The words "expects," "believes," "anticipates," "may," "intends,"
"plans," "potential," "will" and similar expressions are intended
to identify forward-looking statements. These forward-looking
statements do not constitute guarantees of future performance.
Investors are cautioned that forward-looking statements, including
without limitation statements regarding the intention to sell
shares of common stock in an underwritten public offering and the
development and future potential of the Company's product
candidates, constitute forward-looking statements. Such
forward-looking statements are subject to a number of risks and
uncertainties that could cause actual results to differ materially
from those anticipated. These forward-looking statements are based
upon the Company'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 the process of discovering, developing and
commercializing drug candidates that are safe and effective for use
as human therapeutics. These and other risks regarding the
Company's financial position and research and development programs
are described in detail in the Company's SEC filings, including the
Company's Annual Report on Form 10-K for the year ended December
31, 2013, the Company's Quarterly Report on Form 10-Q for the
quarter ended March 31, 2014 and the Registration Statement on Form
S-3 (File No. 333-196651) for this offering. All forward-looking
statements contained in this release speak only as of the date on
which they were first made by the Company, and the Company
undertakes no obligation to update such statements to reflect
events that occur or circumstances that exist after such date.
CONTACT: Media and Investor Contacts:
Graham K. Cooper
Chief Financial Officer, Receptos
(858) 652-5708
gcooper@receptos.com
Michael Rice
LifeSci Advisors, LLC
(646) 597-6979
mrice@lifesciadvisors.com
RECEPTOS, INC. (NASDAQ:RCPT)
Historical Stock Chart
From Jun 2024 to Jul 2024
RECEPTOS, INC. (NASDAQ:RCPT)
Historical Stock Chart
From Jul 2023 to Jul 2024