Jounce Therapeutics Announces Pricing of $56.25 Million Public Offering of Common Stock
March 09 2021 - 10:17PM
Jounce Therapeutics, Inc. (Nasdaq: JNCE), a clinical-stage company
focused on the discovery and development of novel cancer
immunotherapies and predictive biomarkers, today announced that it
has priced an underwritten public offering of 5,000,000 shares of
common stock at a public offering price of $11.25 per share, which
would result in gross proceeds of approximately $56.25 million,
before underwriting discounts and commissions.
The proceeds of the offering are expected to be
used to fund ongoing and planned clinical trials, including the
INNATE trial of JTX-8064, to fund research and development to
advance Jounce’s pipeline, and for working capital and other
general corporate purposes. All shares are being offered by Jounce.
Closing of the offering is expected to occur on or about March 12,
2021, subject to customary closing conditions. Jounce has also
granted the underwriters a 30-day option to purchase up to an
additional 750,000 shares of common stock offered in the public
offering on the same terms and conditions.
Cowen and Piper Sandler are acting as joint
book-running managers for the offering.
The offering is being made pursuant to a shelf
registration statement that was filed with the Securities and
Exchange Commission (“SEC”) on March 8, 2018 and declared effective
by the SEC on May 1, 2018. The offering will be made only by means
of the prospectus and prospectus supplement that form a part of the
registration statement. A preliminary prospectus supplement
relating to, and describing the terms of, the offering has been
filed with the SEC and is available on the SEC’s web site at
www.sec.gov.
The final terms of the offering will be
disclosed in a final prospectus supplement to be filed with the
SEC. Copies of the final prospectus supplement and the accompanying
prospectus relating to this offering can be obtained from Cowen and
Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717, Attention: Prospectus Department, or by
telephone at 833-297-2926; or from Piper Sandler & Co.,
Attention: Prospectus Department, 800 Nicollet Mall, J12S03,
Minneapolis, MN 55402, or by telephone at 800-747-3924.
This press release does not constitute an offer
to sell or the 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 Jounce TherapeuticsJounce
Therapeutics, Inc. is a clinical-stage immunotherapy company
dedicated to transforming the treatment of cancer by developing
therapies that enable the immune system to attack tumors and
provide long-lasting benefits to patients through a
biomarker-driven approach. Jounce currently has multiple
development stage programs ongoing while simultaneously advancing
additional early-stage assets from its robust discovery engine
based on its Translational Science Platform. Jounce’s highest
priority program, JTX-8064, is a LILRB2 (ILT4) receptor antagonist
shown to reprogram immune-suppressive tumor associated macrophages
to an anti-tumor state in preclinical studies. A Phase 1 clinical
trial, named INNATE, for JTX-8064 as a monotherapy and in
combination with JTX-4014, Jounce’s internal PD-1 inhibitor, or
pembrolizumab is currently enrolling patients with advanced solid
tumors. Jounce’s most advanced product candidate, vopratelimab, is
a monoclonal antibody that binds to and activates ICOS, and is
currently being studied in the SELECT Phase 2 trial. JTX-4014 is a
PD-1 inhibitor intended for combination use in the INNATE and
SELECT trials and with Jounce’s broader pipeline. Additionally,
Jounce exclusively licensed worldwide rights to JTX-1811, a
monoclonal antibody targeting CCR8 and designed to selectively
deplete T regulatory cells in the tumor microenvironment, to Gilead
Sciences, Inc.
Cautionary Note Regarding
Forward-Looking StatementsThis press release contains
forward-looking statements, including, without limitation,
statements regarding the anticipated use of proceeds from the
proposed offering if the offering is consummated. The words,
without limitation, ‘‘expect,’’ ‘‘intend,’’ ‘‘may,’’ ‘‘plan,’’ and
similar expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain
these identifying words. Actual results or events could differ
materially from the plans, intentions and expectations disclosed in
these forward-looking statements as a result of various important
factors, including, without limitation, risks and uncertainties
related to whether or not Jounce will be able to raise capital
through the sale of shares of common stock, the final terms of the
proposed offering, market and other conditions, the satisfaction of
customary closing conditions related to the proposed offering and
the impact of general economic, industry or political conditions in
the United States or internationally. There can be no assurance
that Jounce will be able to complete the proposed offering on the
anticipated terms, or at all. Additional risks and uncertainties
relating to the proposed offering, Jounce and its business can be
found under the caption “Risk factors” in Jounce’s Annual Report on
Form 10-K for the year ended December 31, 2020, which is on file
with the Securities and Exchange Commission; and risks described in
other filings that Jounce makes with the Securities and Exchange
Commission in the future, including the preliminary prospectus
supplement to be filed with the Securities and Exchange Commission
in connection with the proposed offering. In addition, the extent
to which the COVID-19 pandemic continues to impact Jounce workforce
and its clinical trial operations activities, and the operations of
the third parties on which Jounce relies, will depend on future
developments, which are highly uncertain and cannot be predicted
with confidence, including the duration and severity of the
pandemic, additional or modified government actions, and the
actions that may be required to contain the virus or treat its
impact. Any forward-looking statements contained in this press
release speak only as of the date hereof, and Jounce expressly
disclaims any obligation to update any forward-looking statements,
whether because of new information, future events or otherwise.
Investor and Media
Contacts:Malin DeonJounce Therapeutics,
Inc.+1-857-259-3843mdeon@jouncetx.com
Mark YoreJounce Therapeutics,
Inc.+1-857-200-1255 myore@jouncetx.com
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