BeyondSpring Announces Pricing of Ordinary Shares
BeyondSpring, a biopharmaceutical company focusing on innovative cancer therapies, announced the pricing of a public offering of 1,930,000 ordinary shares at $13.00 each, alongside a private placement of 384,615 shares to Decheng Capital. The total gross proceeds are projected to be approximately $30.1 million. Funds will support the commercialization of Plinabulin and further clinical development. The public offering is set to close on June 23, 2020, while the private placement is expected on July 2, 2020.
- Successful pricing of public offering at $13.00 per share.
- Total expected gross proceeds of approximately $30.1 million.
- Funding will aid the commercialization of Plinabulin and clinical development.
- None.
NEW YORK, June 19, 2020 (GLOBE NEWSWIRE) -- BeyondSpring Inc. (the “Company” or “BeyondSpring”) (Nasdaq: BYSI), a global biopharmaceutical company focused on the development of innovative immuno-oncology cancer therapies, today announced the pricing of its public offering of 1,930,000 ordinary shares at a public offering price of
Jefferies and William Blair are acting as joint book-running managers for the offering. Nomura is acting as lead manager for the offering. H.C. Wainwright & Co. is acting as co-manager for the offering.
The offering is being made pursuant to the Company’s existing shelf registration statement, which was filed with the U.S. Securities and Exchange Commission (the “SEC”) on October 15, 2019 and became effective on October 21, 2019. The offering of these securities was made only by means of a prospectus and a related prospectus supplement, which will be filed with the SEC. Copies of the prospectus and prospectus supplement related to this offering may be obtained, when available, from: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by calling (877) 821-7388, or by emailing prospectus_department@jefferies.com or William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, Illinois 60606, or by calling (800) 621-0687, or by emailing prospectus@williamblair.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the shares or any other securities, nor shall there be any sale of such shares or any other securities in any state or other 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 other jurisdiction.
About BeyondSpring
BeyondSpring is a global, clinical-stage biopharmaceutical company focused on the development of innovative immuno-oncology cancer therapies. BeyondSpring’s lead asset, first-in-class agent Plinabulin, is in a Phase 3 global clinical trial as a direct anticancer agent in the treatment of non-small cell lung cancer (NSCLC) and two Phase 3 clinical programs in the prevention of chemotherapy-induced neutropenia (CIN). BeyondSpring has strong R&D capabilities with a robust pipeline in addition to Plinabulin, including three immuno-oncology assets and a drug discovery platform using the ubiquitination degradation pathway. The Company also has a seasoned management team with many years of experience bringing drugs to the global market. BeyondSpring is headquartered in New York City
Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking statements that are not historical facts. Words such as “will,” “expect,” “anticipate,” “plan,” “believe,” “design,” “may,” “future,” “estimate,” “predict,” “objective,” “goal,” or variations thereof and variations of such words and similar expressions are intended to identify such forward-looking statements. Forward-looking statements are based on BeyondSpring’s current knowledge and its present beliefs and expectations regarding possible future events and are subject to risks, uncertainties and assumptions. Certain of the statements made in this press release are forward-looking, such as those, among others, relating to BeyondSpring’s expectations regarding the completion of the proposed offering and the private placement. No assurance can be given that the offering or the private placement discussed above will be consummated, or that the net proceeds of the offering or the private placement will be used as indicated. Consummation of the offering and the private placement and the application of the net proceeds of the offering and the private placement are subject to numerous possible events, factors and conditions, many of which are beyond the control of the Company and not all of which are known to it, including, without limitation, market conditions and those described under the heading “Risk Factors” in the Company's Annual Report on Form 20-F for the year ended December 31, 2019, as updated by those risk factors included in the Company’s subsequent filings under the Securities Exchange Act of 1934, as amended, which can be accessed at the SEC's website at www.sec.gov. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of several factors including, but not limited to, difficulties raising the anticipated amount needed to finance the Company’s future operations on terms acceptable to the Company, if at all, unexpected results of clinical trials, delays or denial in regulatory approval process, results that do not meet its expectations regarding the potential safety, the ultimate efficacy or clinical utility of its product candidates, increased competition in the market, the impact of widespread health developments, including the recent COVID-19 pandemic, and the responses thereto, which could materially and adversely affect, among other things, enrollment of patients in the Company’s clinical trials and its expected timeline for data readouts of its clinical trials and certain regulatory filings for its product candidates, unexpected changes to estimates of its expenses, future revenues and capital requirements, and other risks described in BeyondSpring’s most recent Form 20-F on file with the SEC. All forward-looking statements made herein speak only as of the date of this release and BeyondSpring undertakes no obligation to update publicly such forward-looking statements to reflect subsequent events or circumstances, except as otherwise required by law.
CONTACT:
Media & Investor Relations:
Scott Eckstein / Caitlin Kasunich
KCSA Strategic Communications
212.896.1210 / 212.896.1241
seckstein@kcsa.com / ckasunich@kcsa.com
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