SAN DIEGO–(BUSINESS WIRE)–Ignyta, Inc. (Nasdaq: RXDX) (“Ignyta”), a biotechnology company focused on precision medicine in oncology, today announced the pricing of an underwritten public offering of 10.0 million shares of its common stock at a price to the public of $16.00 per share. The gross proceeds from this offering are expected to be $160.0 million, before deducting the underwriting discounts and commissions and estimated offering expenses payable by Ignyta. The offering is expected to close on or about October 24, 2017, subject to customary closing conditions. In addition, Ignyta has granted the underwriters a 30-day option to purchase up to an additional 1.5 million shares of its common stock at the public offering price, less the underwriting discounts and commissions, in connection with the offering.
Ignyta anticipates using the net proceeds from the offering to fund research and development activities for its development programs, including, but not limited to, the clinical development and pre-commercialization activities of entrectinib, the conduct of ongoing clinical and pre-clinical development of other pipeline assets, the completion of development activities related to the diagnostic lab, and for working capital and other general corporate purposes.
J.P. Morgan Securities LLC and Jefferies LLC are acting as joint book-running managers for the offering. Cantor Fitzgerald & Co. is acting as lead manager for the offering, and Ladenburg Thalmann & Co. Inc. and SunTrust Robinson Humphrey, Inc. are acting as co-managers for the offering.
The shares described above are being offered by Ignyta pursuant to a shelf registration statement on Form S-3, including a base prospectus, that was previously filed by Ignyta with the Securities and Exchange Commission (the “SEC”) and that became automatically effective on October 18, 2017. A final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus related to this offering, when available, may be obtained from 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 by email at [email protected]; or Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at (877) 547-6340, or by email at [email protected].
