SAN DIEGO, March 11, 2021 /PRNewswire/ -- Prometheus
Biosciences, Inc. (Nasdaq: RXDX), a biotechnology company
pioneering a precision medicine approach for the discovery,
development, and commercialization of novel therapeutic and
companion diagnostic products for the treatment of inflammatory
bowel disease (IBD), today announced the pricing of its
upsized initial public offering of 10,000,000 shares of common
stock at a public offering price of $19.00 per share. All of
the shares are being offered by Prometheus. The shares are expected
to begin trading on the Nasdaq Global Select Market
on March 12, 2021 under the ticker symbol "RXDX".
The gross proceeds from the offering, before deducting underwriting
discounts and commissions and other offering expenses payable
by Prometheus, are expected to be $190 million. The
offering is expected to close on March 16, 2021, subject
to satisfaction of customary closing conditions. In addition,
Prometheus has granted the underwriters a 30-day option to purchase
up to an additional 1,500,000 shares of common stock at the initial
public offering price, less underwriting discounts and
commissions.
SVB Leerink, Credit Suisse, Stifel and Guggenheim Securities are
acting as joint bookrunning managers for the offering.
Registration statements relating to the offering have been filed
with the Securities and Exchange Commission and became
effective on March 11, 2021. The offering will be made only by
means of a prospectus. When available, copies of the
prospectus may be obtained from SVB Leerink LLC, Attention:
Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, or by telephone at (800)
808-7525, ext. 6105, or by email at syndicate@svbleerink.com; or
from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department,
6933 Louis Stephens Drive, Morrisville,
NC 27560, or by telephone at (800) 221-1037, or by email at
usa.prospectus@credit-suisse.com; or from Stifel, Nicolaus &
Company, Incorporated, One Montgomery
Street, Suite 3700, San Francisco,
California 94104, Attn: Syndicate, or by phone at (415)
364-2720 or by email at syndprospectus@stifel.com; or from
Guggenheim Securities LLC, Attention: Equity Syndicate Department,
330 Madison Avenue, New York, NY
10017, by telephone at (212) 518-5548 or by email at
GSEquityProspectusDelivery@guggenheimpartners.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there
be any offer or sale of these securities in any state or
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 jurisdiction.
About Prometheus Biosciences
Prometheus Biosciences, Inc. is a biotechnology company
pioneering a precision medicine approach for the discovery,
development, and commercialization of novel therapeutic and
companion diagnostic products for the treatment and diagnosis of
IBD. The company's precision medicine platform, Prometheus360,
combines proprietary bioinformatics discovery methods with one of
the world's largest gastrointestinal bioinformatics databases to
identify novel therapeutic targets and develop therapeutic
candidates to engage those targets.
Prometheus is headquartered in San
Diego, CA.
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SOURCE Prometheus Biosciences