Harpoon Therapeutics Announces Proposed Public Offering of Common Stock
Harpoon Therapeutics (Nasdaq: HARP) has launched an underwritten public offering of its common stock, with plans to grant underwriters a 30-day option to buy an additional 15% of shares sold. The net proceeds will fund clinical development of its therapies for various cancers, including HPN424 for prostate cancer and HPN328 for small cell lung cancer, along with advancing other pipeline candidates and general corporate purposes. SVB Leerink and Piper Sandler are managing the offering, which is registered under an SEC shelf statement.
- Funding for ongoing clinical trials of key therapies: HPN424, HPN536, HPN217, HPN328.
- Potential for advancing other pipeline candidates, including HPN601.
- Possible dilution of existing shares due to the public offering.
- Market risks and uncertainties concerning the offering's completion.
SOUTH SAN FRANCISCO, Calif., Jan. 06, 2021 (GLOBE NEWSWIRE) -- Harpoon Therapeutics, Inc. (Nasdaq: HARP), a clinical-stage immunotherapy company developing a novel class of T cell engagers, announced today that it has commenced an underwritten public offering of its common stock. In connection with the offering, Harpoon Therapeutics intends to grant the underwriters in the offering a 30-day option to purchase up to an additional 15 percent of the number of shares sold.
Harpoon Therapeutics plans to use the net proceeds of the offering, together with other available funds, to fund the continued clinical development of HPN424 in metastatic castration-resistant prostate cancer, HPN536 in ovarian cancer and other solid tumors, HPN217 in multiple myeloma, and HPN328 for the treatment of small cell lung cancer and other neuroendocrine tumors expressing Delta-like canonical Notch ligand 3; to advance the development of other pipeline candidates, including HPN601; and for working capital and general corporate purposes.
SVB Leerink and Piper Sandler are acting as joint bookrunning managers for the offering. Baird and Truist Securities are acting as co-lead managers for the offering. Roth Capital Partners is acting as co-manager for the offering.
The shares of common stock are being offered pursuant to a “shelf” registration statement previously filed with and declared effective by the Securities and Exchange Commission (SEC). A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the website of the SEC at www.sec.gov. When available, copies of the preliminary prospectus supplement and accompanying prospectus relating to the offering may be obtained from: SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at (800) 808-7525, ext. 6132 or by email at syndicate@svbleerink.com or Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, by telephone at (800) 747-3924 or by email at prospectus@psc.com.
This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or 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 jurisdiction. Any offer, if at all, will be made only by means of a prospectus supplement and accompanying prospectus, which are a part of the effective registration statement.
Cautionary Note on Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "expect," "plan," "anticipate," "estimate," "intend" and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Forward-looking statements contained in this press release include statements relating to Harpoon Therapeutics’ expectations regarding the completion and timing of the proposed public offering and Harpoon Therapeutics’ planned use of the proceeds from the proposed public offering. These forward-looking statements are based on Harpoon Therapeutics’ expectations and assumptions as of the date of this press release. Actual results may differ materially from these forward-looking statements. Each of these forward-looking statements involves risks and uncertainties. These risks and uncertainties include, without limitation, risks and uncertainties related to market conditions and satisfaction of customary closing conditions related to the proposed public offering. There can be no assurance that Harpoon Therapeutics will be able to complete the offering on the anticipated terms, or at all. Other factors that may cause actual results to differ from those expressed or implied in the forward-looking statements in this press release are discussed in Harpoon Therapeutics’ filings with the SEC, including under the heading “Risk Factors” contained therein, as well as the risks identified in the registration statement and the preliminary prospectus supplement relating to the offering. Except as required by law, Harpoon Therapeutics assumes no obligation to update any forward-looking statements contained herein to reflect any change in expectations, even as new information becomes available.
Contacts:
Harpoon Therapeutics, Inc.
Georgia Erbez
Chief Financial Officer
650-443-7400
media@harpoontx.com
Westwicke ICR
Robert H. Uhl
Managing Director
858-356-5932
robert.uhl@westwicke.com
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