XBiotech Announces Closing of Public Offering of Common Shares
June 04 2019 - 4:01PM
XBiotech Announces Closing of Public Offering of Common Shares
XBiotech Inc. (NASDAQ: XBIT) today announced the closing of its
previously announced underwritten public offering of 4,848,485 of
its common shares at a public offering price of $8.25 per
share. In addition, XBiotech has granted the underwriter a
30-day option to purchase up to an additional 351,515 common shares
at the public offering price, less underwriting discounts and
commissions.
Piper Jaffray acted as the sole underwriter in
the offering.
XBiotech received gross proceeds of
approximately $40 million. The proceeds of the offering,
after deducting underwriting discounts and commissions and
estimated offering expenses payable by XBiotech, will be used
primarily to advance bermekimab Phase 2 clinical trials in
Hidradenitis Suppurativa and Atopic Dermatitis, and for general
corporate and working capital purposes.
The common shares are being issued and sold
pursuant to an effective shelf registration statement on Form S-3
previously filed with and declared effective by the Securities and
Exchange Commission. A final prospectus supplement and
accompanying base prospectus relating to the offering each contain
important information relating to the XBiotech common shares. The
final prospectus supplement and accompanying base prospectus has
been filed with the SEC and is available on the SEC's website
at http://www.sec.gov, and may also be obtained, when
available, by contacting Piper Jaffray & Co., Attention:
Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN
55402, or by email at prospectus@pjc.com, or by phone at (800)
747-3924.
This press release shall not constitute an offer
to sell nor the solicitation of an offer to buy, nor shall there be
any sale of 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 XBiotech
XBiotech is a fully integrated global
biosciences company dedicated to pioneering the discovery,
development and commercialization of therapeutic antibodies based
on its True Human™ proprietary technology. XBiotech currently is
advancing a robust pipeline of antibody therapies to redefine the
standards of care in oncology, inflammatory conditions and
infectious diseases. Headquartered in Austin, Texas, XBiotech also
is leading the development of innovative biotech manufacturing
technologies designed to more rapidly, cost-effectively and
flexibly produce new therapies urgently needed by patients
worldwide. For more information, visit www.xbiotech.com.
Cautionary Note on Forward-Looking
Statements
This press release contains forward-looking
statements, including declarations regarding management's beliefs
and expectations that involve substantial risks and uncertainties.
In some cases, you can identify forward-looking statements by
terminology such as "may," "will," "should," "would," "could,"
"expects," "plans," "contemplate," "anticipates," "believes,"
"estimates," "predicts," "projects," "intend" or "continue" or the
negative of such terms or other comparable terminology, although
not all forward-looking statements contain these identifying words.
Forward-looking statements are subject to inherent risks and
uncertainties in predicting future results and conditions that
could cause the actual results to differ materially from those
projected in these forward-looking statements. These risks and
uncertainties are subject to the disclosures set forth in the "Risk
Factors" section of certain of our SEC filings. Forward-looking
statements are not guarantees of future performance, and our actual
results of operations, financial condition and liquidity, and the
development of the industry in which we operate, may differ
materially from the forward-looking statements contained in this
press release. Any forward-looking statements that we make in this
press release speak only as of the date of this press release. We
assume no obligation to update our forward-looking statements
whether as a result of new information, future events or otherwise,
after the date of this press release.
ContactAshley
Oteroaotero@xbiotech.com512-386-2930
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