Y-mAbs Therapeutics, Inc. Announces Closing of Public Offering and Full Exercise of the Underwriters’ Option to Purchase Ad...
February 22 2021 - 04:01PM
Y-mAbs Therapeutics, Inc. (the “Company” or “Y-mAbs”) (Nasdaq:
YMAB), a commercial-stage biopharmaceutical company focused on the
development and commercialization of novel, antibody-based
therapeutic products for the treatment of cancer, today
announced the closing of its public offering of 2,804,878 shares of
its common stock, at a public offering price
of $41.00 per share, which includes the exercise in full
of the underwriters' option to purchase 365,853 additional shares
of common stock. The aggregate gross proceeds to Y-mAbs,
before deducting underwriting discounts and commissions and
estimated offering expenses payable by the Company, were
approximately $115 million. All of the shares of common stock
were offered by the Company. Y-mAbs’ common stock is listed on The
Nasdaq Global Select Market under the ticker symbol "YMAB."
J.P. Morgan, Morgan Stanley and BofA Securities
acted as the joint book-running managers for the offering. H.C.
Wainwright & Co. and Kempen & Co acted as lead
co-managers for the offering.
A preliminary prospectus supplement relating to
and describing the terms of the offering was filed with
the Securities and Exchange Commission (“SEC”)
on February 16, 2021. A final prospectus supplement
relating to the offering was filed with
the SEC on February 18, 2021. Copies of the
final prospectus supplement relating to the offering are available
on the SEC’s website at www.sec.gov. The final prospectus
supplement and prospectus relating to the offering may be obtained
from: J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY, 11717, or by telephone at (866)
803-9204; Morgan Stanley & Co. LLC, Attention: Prospectus
Department, 180 Varick Street, Second Floor, New York, New York
10014 or BofA Securities, NC1-004-03-43, 200 North College Street,
3rd Floor, Charlotte, NC 28255-0001, Attn: Prospectus Department,
or by emailing dg.prospectus_requests@bofa.com.
The shares of common stock described above are
being offered by Y-mAbs pursuant to its shelf registration
statement on Form S-3 (Reg. No. 333-234034), including a
base prospectus, that was filed with the SEC on October 1, 2019 and
declared effective by the SEC on October 15, 2019. The
securities are being offered only by means of a prospectus
supplement and accompanying prospectus forming a part of the
effective registration statement. This press release shall 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 an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Y-mAbsY-mAbs is a
commercial-stage biopharmaceutical company focused on the
development and commercialization of novel, antibody-based
therapeutic products for the treatment of cancer. The Company has a
broad and advanced product pipeline, including one FDA approved
product, DANYELZA® (naxitamab-gqgk), which targets tumors that
express GD2, and one pivotal-stage product candidate, omburtamab,
which targets tumors that express B7-H3.
Forward-Looking
StatementsStatements in this press release about future
expectations, plans and prospects, as well as any other statements
regarding matters that are not historical facts, may constitute
“forward-looking statements” within the meaning of The Private
Securities Litigation Reform Act of 1995. Such statements include,
but are not limited to, statements about our business model and
development, commercialization and product distribution plans;
current and future clinical and pre-clinical studies and our
research and development programs; expectations related to the
timing of the initiation and completion of regulatory submissions;
regulatory, marketing and reimbursement approvals; rate and degree
of market acceptance and clinical utility as well as pricing and
reimbursement levels; retaining and hiring key employees; our
commercialization, marketing and manufacturing capabilities and
strategy; our intellectual property position and strategy;
additional product candidates and technologies; collaborations or
strategic partnerships and the potential benefits thereof;
expectations related to the use of our cash and cash equivalents,
and the need for, timing and amount of any future financing
transaction; our financial performance, including our estimates
regarding revenues, expenses, capital expenditure requirements;
developments relating to our competitors and our industry; and
other statements that are not historical facts. Words such as
“anticipate,” “believe,” “contemplate,” “continue,” “could,”
“estimate,” “expect,” “hope,” “intend,” “may,” “might,”
“plan,” “potential,” “predict,” “project,” “should,” “target,”
“will,” “would” and similar expressions are intended to identify
forward-looking statements, although not all forward-looking
statements contain these identifying words. Our product candidates
and related technologies are novel approaches to cancer treatment
that present significant challenges. Actual results may differ
materially from those indicated by such forward-looking statements
as a result of various factors, including but not limited to: the
uncertainties related to market conditions and the completion of
the public offering on the anticipated terms or at all; risks
associated with our financial condition and need for additional
capital; risks associated with our development work; cost and
success of our product development activities and clinical trials;
the risks of delay in the timing of our regulatory submissions or
failure to receive approval of our drug candidates; the risks
related to commercializing any approved pharmaceutical product
including the rate and degree of market acceptance of our product
candidates; development of our sales and marketing capabilities and
risks associated with failure to obtain sufficient reimbursement
for our products; the risks related to our dependence on third
parties including for conduct of clinical testing and product
manufacture; our inability to enter into partnerships; the risks
related to government regulation; risks related to market approval,
risks associated with protection of our intellectual property
rights; risks related to employee matters and managing growth;
risks related to our common stock, risks associated with the
pandemic caused by the novel coronavirus known as COVID-19 and
other risks and uncertainties affecting the Company including those
described in the "Risk Factors" section included in our Annual
Report on Form 10-K and in our other SEC filings. Any
forward-looking statements contained in this press release speak
only as of the date hereof, and the Company undertakes no
obligation to update any forward-looking statement, whether as a
result of new information, future events or otherwise.
“Y-mAbs®” and “DANYELZA®” are registered
trademarks of Y-mAbs Therapeutics, Inc.
Contact:
Y-mAbs Therapeutics, Inc. 230 Park Avenue, Suite 3350New York,
NY 10169USA+1 646 885 8505E-mail: info@ymabs.com
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