On June 5, 2020 Legend Biotech Corporation (NASDAQ: LEGN) (Legend Biotech), a global clinical-stage biopharmaceutical company engaged in the discovery and development of novel cell therapies for oncology and other indications, reported the pricing of its initial public offering of 18,425,000 American depositary shares (ADSs), each representing two ordinary shares, at a public offering price of $23.00 per ADS, for total gross proceeds of approximately $423.8 million (Press release, Legend Biotech, JUN 5, 2020, View Source [SID1234560871]). In addition, Legend Biotech has granted the underwriters a 30-day option to purchase up to an additional 2,763,750 ADSs at the public offering price, less underwriting discounts and commissions. All of the ADSs are being offered by Legend Biotech.

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The shares are scheduled to begin trading on the Nasdaq Global Select Market on June 5, 2020 under the ticker symbol "LEGN." The offering is expected to close on June 9, 2020, subject to customary closing conditions.

Morgan Stanley, J.P. Morgan and Jefferies are serving as joint book-running managers for the offering.

A registration statement relating to the securities being sold in this offering was declared effective by the Securities and Exchange Commission on June 4, 2020. This offering is being made only by means of a prospectus. A copy of the final prospectus can be obtained, when available, from Morgan Stanley & Co. LLC, 180 Varick Street, New York, NY 10014, Attention: Prospectus Department, or by telephone at (866) 718-1649; 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 Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by phone at (877) 821-7388.

In addition to the shares sold in the initial public offering, Legend Biotech announced the concurrent sale of 1,043,478 ordinary shares at the public offering price per share adjusted to reflect the ADS-to-ordinary share ratio in a private placement to GenScript Biotech Corporation, the parent majority shareholder of Legend Biotech. The sale of these ordinary shares will not be registered under the Securities Act of 1933, as amended. The concurrent private placement is also scheduled to close on June 9, 2020, subject to the satisfaction of customary closing conditions. The closing of Legend Biotech’s initial public offering is not conditioned upon the closing of the concurrent private placement, but the closing of the concurrent private placement is conditioned upon the closing of the initial public offering.

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 offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

On June 5, 2020 ADC Therapeutics SA (NYSE:ADCT), a late clinical-stage oncology-focused biotechnology company pioneering the development and commercialization of highly potent and targeted antibody drug conjugates for patients suffering from hematological malignancies and solid tumors, reported that it will host a live conference call and webcast on Friday, June 12, 2020 at 8:30 AM EDT to highlight updated interim data from the pivotal Phase 2 trial of Lonca in patients with relapsed or refactory diffuse large B-cell lymphoma as well as interim results of a Phase 1/2 trial highlighting the potential to advance Lonca into earlier lines of therapy in combination therapies that will be presented at the virtual 25th Congress of the European Hematology Association (EHA) (Free EHA Whitepaper) (EHA25) (Press release, ADC Therapeutics, JUN 5, 2020, View Source [SID1234560870]).

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To access the call, please dial 833-526-8381 (domestic) or +41 225 805 976 (international) and request to join the ADC Therapeutics conference call. A live webcast of the presentation will be available on the Investors section of the ADC Therapeutics website at www.adctherapeutics.com.

On June 5, 2020 Nanjing Legend Biotech reported that priced its US IPO above the expected range at $23 per ADS, raising $424 million (Press release, Legend Biotech, JUN 5, 2020, View Source [SID1234560869]). The company’s ADS’s climbed 60% higher to $36.60 in early trading, giving Legend a market capitalization of nearly $5 billion. In 2017, Legend announced its anti-BCMA CAR-T therapy produced a 94% overall response rate in myeloma patients. Six months later, Janssen formed a 50-50 partnership with the company for the CAR-T candidate in a $1 billion-plus deal, including $350 million upfront.

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On June 5, 2020 Pfenex Inc. (NYSE American: PFNX) reported that Eef Schimmelpennink, President and Chief Executive Officer, will participate in a fire side chat at the William Blair Growth Stock Conference on June 9, 2020 (Press release, Pfenex, JUN 5, 2020, View Source [SID1234560868]). The discussion will be virtual and accessible at View Source." target="_blank" title="View Source." rel="nofollow">View Source

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Presentation Details:
Date: Tuesday, June 9, 2020
Time: 9:20 pm Central Time (7:20 pm – 7:50 pm Pacific Time)
Link: View Source

Interested parties can access the live audio webcast and archive from the Investors Section of Pfenex’s website at www.pfenex.com.

On June 5, 2020 Cellectar Biosciences (Nasdaq: CLRB), a clinical stage biopharmaceutical company focused on the discovery, development and commercialization of drugs for the treatment of cancer, reported the closing of its previously announced underwritten public offering for gross proceeds of $20.0 million prior to deducting underwriting discounts and commissions and estimated offering expenses (Press release, Cellectar Biosciences, JUN 5, 2020, View Source [SID1234560867]).

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The offering was comprised of 14,601,628 shares of common stock, together with Series H Warrants to purchase 8,695,664 shares of common stock. The public offering price of a share of Common Stock together with one-half of a Series H Warrant to purchase one share of common stock was $1.15. Each whole Series H Warrant is exercisable to purchase one share of our common stock at an exercise price of $1.2075 per share, is exercisable upon issuance and will expire five years from the date of issuance. The shares of common stock and the accompanying Series H warrants were purchased together in this offering but were issued separately.

Cellectar also issued 2,789,700 pre-funded warrants, in lieu of shares of common stock that would otherwise result in such purchaser’s beneficial ownership exceeding 4.99% (or, at the election of the purchaser, 9.99%) of our outstanding common stock. Each pre-funded warrant is exercisable for one share of our common stock. The purchase price of each pre-funded warrant and one-half of a Series H Warrant is $1.1499 and the exercise price of each pre-funded warrant will be $0.00001 per share. The pre-funded warrants are immediately exercisable and may be exercised at any time until all of the pre-funded warrants are exercised in full. The pre-funded warrant and the accompanying Series H Warrants were purchased together in the offering but were issued separately.

Oppenheimer & Co. Inc. acted as the sole book-running manager in connection with the offering and Ladenburg Thalmann & Co. Inc. and Roth Capital Partners acted as co-lead managers.

The securities were offered pursuant to a registration statement on Form S-1 (File No. 333-238132), which was declared effective by the Securities and Exchange Commission (SEC) on June 2, 2020 and an additional registration statement filed pursuant to Rule 462(b) (File No. 333-238892), which became effective when filed.