On November 1, 2021 Compass Therapeutics, Inc. (the "Company"), a clinical stage biopharmaceutical company developing proprietary antibody-based therapeutics to treat cancer, reported that it intends to offer and sell shares of common stock in an underwritten public offering (Press release, Compass Therapeutics, NOV 1, 2021, View Source [SID1234594048]). All of the shares of common stock are being offered by the Company. In addition, the Company expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the aggregate shares of common stock offered in the public offering at the public offering price, less the underwriting discount. In connection with the offering, the Company also announced that its common stock has been approved for listing on the Nasdaq Capital Market under the symbol "CMPX", subject to the pricing of the public offering on the terms proposed.
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The offering is subject to customary closing conditions. The Company intends to use the net proceeds from the public offering, together with its existing cash and cash equivalents, (i) to secure the listing of its common stock on the Nasdaq Capital Market, (ii) for funding of ongoing operations including clinical trials for its existing programs, which may change based on clinical and preclinical results and (iii) for general corporate purposes.
SVB Leerink is serving as the book-running manager for the proposed offering.
The securities described above are being offered by the Company pursuant to a shelf registration statement on Form S-3 (No. 333-257821) that was declared effective by the Securities and Exchange Commission on July 20, 2021. A preliminary and final prospectus supplement relating to and describing the terms of the offering will be filed with the SEC describing the terms of the offering will be filed with the SEC and will be available on the SEC’s website located at www.sec.gov. When available, copies of the preliminary prospectus supplement and the accompanying prospectus relating to the offering may be obtained from SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 53 State Street, 40th Floor, Boston, MA 02109, by telephone at (800) 808-7525, ext. 6105, or by email at [email protected].
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 jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offer, if at all, will be made only by means of the prospectus supplement and accompanying prospectus forming a part of the effective registration statement.