On December 13, 2019 Omeros Corporation (Nasdaq: OMER) ("Omeros"), a commercial-stage biopharmaceutical company committed to discovering, developing and commercializing small-molecule and protein therapeutics for large-market as well as orphan indications targeting inflammation, complement-mediated diseases, disorders of the central nervous system and immune-related diseases, including cancers, reported the full exercise and closing of the sale of 572,518 shares of common stock to the underwriter of its previously announced public offering pursuant to the underwriter’s option under the underwriting agreement to purchase additional shares of common stock (Press release, Omeros, DEC 13, 2019, View Source [SID1234552362]). When combined with shares sold in the closing that occurred on December 9, 2019, Omeros sold an aggregate of 4,389,311 shares of common stock in the offering at $13.10 per share and the total gross proceeds to Omeros, before deduction of underwriting discounts and other estimated offering expenses, were approximately $57.5 million.
Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:
Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing
Schedule Your 30 min Free Demo!
Cantor Fitzgerald & Co. acted as the sole book-running manager for the offering.
Omeros intends to use the net proceeds from the offering for general corporate purposes, including funding clinical trials, pre-clinical studies, manufacturing, build out of commercial infrastructure and other costs associated with advancing its development programs and product candidates toward regulatory submissions and potential commercialization. Omeros may also use the net proceeds for working capital, the repayment of debt obligations, acquisitions or investments in businesses, products or technologies that are complementary to its own, and other required capital expenditures.
The securities described above were offered by Omeros pursuant to a shelf registration statement on Form S-3 (File No. 333- 235349) that was filed with the Securities and Exchange Commission (the "SEC") on December 4, 2019, which became automatically effective upon filing. A final prospectus supplement relating to and describing the terms of the offering was filed with the SEC on December 6, 2019 and is available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained by contacting Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Ave., 6th Floor, New York, New York 10022, or by email at [email protected].