On September 16, 2020 Trillium Therapeutics Inc. ("Trillium" or the "Company") (NASDAQ/TSX: TRIL), a clinical stage immuno-oncology company developing innovative therapies for the treatment of cancer, reported the closing of its previously announced underwritten public offering of common shares of the Company at a public offering price of US$13.00 per common share (the "Offering") (Press release, Trillium Therapeutics, SEP 16, 2020, View Source [SID1234565241]). 11,500,000 common shares were sold in the Offering, including the full exercise by the underwriters of their option to purchase up to an additional 1,500,000 common shares.
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The gross proceeds from the Offering were US$149,500,000, before deducting underwriting commissions and other offering expenses. The Company intends to use the net proceeds of the Offering for its ongoing and planned clinical trials for its CD47 program, including drug supply and for working capital and general corporate purposes.
"We would like to thank all investors who placed their trust in both our unique CD47 assets as well as Trillium people. We are committed to speedily advance our investigational program into multiple Phase 2 trials, and further drive evolution of the oncology treatment paradigm toward greater adoption of novel, ground-breaking immunotherapies" said Dr. Jan Skvarka, Trillium’s President and Chief Executive Officer.
Cowen and Evercore ISI acted as joint book-running managers for the Offering. JMP Securities acted as the lead manager and Ladenburg Thalmann and JonesTrading acted as co-managers for the Offering.