Lumira-backed G1 Therapeutics goes public with $105 mln issue


The Nasdaq logo is displayed at the Nasdaq Market site in New York September 2, 2015. REUTERS/Brendan McDermid

U.S. clinical-stage oncology company G1 Therapeutics Inc priced its recently filed initial public offering to raise US$105 million, not including its greenshoe option. It began trading today on Nasdaq’s Global Select Market under the symbol GTHX. Research Triangle Park, North Carolina-based G1 develops novel small-molecule therapies for the treatment of cancer. Since its founding in 2008, the company has raised nearly US$100 million in funding from several investors, including Canadian life sciences venture capital firm Lumira Capital.

PRESS RELEASE

G1 Therapeutics Announces Pricing of Initial Public Offering

RESEARCH TRIANGLE PARK, N.C., May 16, 2017 (GLOBE NEWSWIRE) — G1 Therapeutics, Inc., a clinical-stage oncology company, today announced the pricing of its initial public offering of 7,000,000 shares of common stock at a public offering price of $15.00 per share for aggregate gross proceeds of $105,000,000. In addition, G1 Therapeutics has granted the underwriters a 30-day option to purchase up to 1,050,000 additional shares of its common stock at the initial public offering price. The shares are scheduled to begin trading on The NASDAQ Global Select Market on May 17, 2017 under the ticker symbol “GTHX.”

J.P. Morgan Securities LLC and Cowen and Company, LLC are acting as joint book-running managers for the offering. Needham & Company, LLC and Wedbush Securities Inc. are acting as co-managers for the offering.

A registration statement relating to these securities has been filed with and was declared effective by the Securities and Exchange Commission on May 16, 2017. The offering will be made only by means of a prospectus. A copy of the final prospectus relating to the offering will be filed with the Securities and Exchange Commission and may be obtained, when available, from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204; or Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, or by calling (631) 274-2806 or by faxing (631) 254-7140.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, 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 G1 Therapeutics, Inc.

G1 Therapeutics is a clinical-stage biopharmaceutical company developing novel, small-molecule therapies that address significant unmet needs in the treatment of cancer. The company is advancing a pipeline of potential best-in-class and first-in-class drug candidates in multiple oncology indications. G1 is based in Research Triangle Park, NC.

Contacts

Investors:
Robert Uhl
Westwicke Partners
858-356-5932
[email protected]

Media:
Laura Bagby
6 Degrees Communications
312-448-8098
[email protected]

Photo courtesy of Reuters/Brendan McDermid

Take your pick!

  • Buyouts delivers exclusive news and analysis about private equity deals, fundraising, top-quartile managers and more. Get your FREE trial or subscribe now.
  • VC Journal provides exclusive news and analysis about venture capital deals, fundraising, top-quartile investors and more. Get your FREE trial or subscribe now.