Protagonist Therapeutics, Inc. Announces Proposed Public Offering of Common Stock

Rhea-AI Summary

Protagonist Therapeutics, Inc. (Nasdaq: PTGX) announced a public offering of $100 million of its common stock, with the possibility of granting underwriters a 30-day option to purchase an additional 15%. The offering is subject to market conditions, and there is no guarantee on its completion or the size of the offering. J.P. Morgan, SVB Leerink, Piper Sandler, and BMO Capital Markets are the joint book-running managers. A shelf registration statement was filed with the SEC on December 10, 2020. Investors are advised to consult the SEC filings for detailed information.

Positive

• Proceeds from the offering could provide funding for ongoing clinical developments.
• The potential additional shares can enhance liquidity.

Negative

• Offering size may lead to shareholder dilution.
• Market uncertainties surrounding the completion of the offering.

NEWARK, Calif., Dec. 10, 2020 /PRNewswire/ -- Protagonist Therapeutics, Inc. (Nasdaq: PTGX), a clinical stage biopharmaceutical company, today announced that it has commenced an underwritten public offering of $100,000,000 of shares of its common stock. All of the shares of common stock are being offered by Protagonist. In connection with this offering, Protagonist expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the number of shares of its common stock offered in the public offering.

J.P. Morgan Securities LLC, SVB Leerink LLC, Piper Sandler & Co. and BMO Capital Markets Corp. are acting as joint book-running managers for the offering. The offering is subject to market conditions and there can be no assurance as to whether or when the offering may be completed or the actual size or terms of the offering.

A shelf registration statement relating to the offered shares of common stock was filed with the Securities and Exchange Commission (SEC) on December 10, 2020. A preliminary 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 www.sec.gov. Prospective investors should read the preliminary prospectus supplement, when available, and the accompanying prospectus and other documents Protagonist has filed with the SEC for more complete information about Protagonist and the offering. Copies of the prospectus supplement and the accompanying prospectus related to the offering may be obtained, when available, from J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (866) 803-9204 or by email at prospectus-eq_fi@jpmchase.com;  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; from 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; or from BMO Capital Markets Corp., Attn: Equity Syndicate Department, 3 Times Square, 25th Floor, New York, NY 10036, tel: (800) 414-3627, email: bmoprospectus@bmo.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities 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.

Cautionary Note on Forward-Looking Statements

This press release contains forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding Protagonist's expectations regarding the completion, timing and size of the proposed public offering. In some cases, you can identify these statements by forward-looking words such as "expect," "may," "will,"  or the negative or plural of these words or similar expressions (as well as other words or expressions referencing future events, conditions or circumstances). These forward-looking statements are based on Protagonist's expectations and assumptions as of the date of this press release. Each of these forward-looking statements involves risks and uncertainties. Actual results may differ materially from these forward-looking statements. 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 Protagonist will be able to complete the proposed public offering on the anticipated terms, or at all. Additional information concerning these and other risks can be found in Protagonist's periodic filings with the U.S. Securities and Exchange Commission, 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. Any forward-looking statements that Protagonist makes in this press release speak only as of the date of this press release. Except as required by law, Protagonist assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this press release.

 

View original content:http://www.prnewswire.com/news-releases/protagonist-therapeutics-inc-announces-proposed-public-offering-of-common-stock-301190335.html

SOURCE Protagonist Therapeutics, Inc.

FAQ

What is the purpose of Protagonist Therapeutics' public offering on December 10, 2020?

The public offering aims to raise $100 million to support clinical developments and operations.

Who are the underwriters for the Protagonist Therapeutics offering?

J.P. Morgan, SVB Leerink, Piper Sandler, and BMO Capital Markets are acting as joint book-running managers.

What are the risks associated with Protagonist Therapeutics' new stock offering?

Risks include potential shareholder dilution and market conditions affecting the completion of the offering.

When was the registration statement for the offering filed with the SEC?

The registration statement was filed on December 10, 2020.

What is the stock symbol for Protagonist Therapeutics?

The stock symbol is PTGX.