SAN DIEGO, Calif.--(BUSINESS WIRE)--Jun. 25, 2018--
Heron Therapeutics, Inc. (“Heron”) (NASDAQ: HRTX), a commercial-stage
biotechnology company focused on improving the lives of patients by
developing best-in-class treatments to address some of the most
important unmet patient needs, today announced the pricing of an
underwritten public offering of approximately $200 million of shares of
its common stock. In addition, Heron has granted the underwriter of the
offering a 30-day option to purchase up to an additional approximately
$30 million of shares of its common stock. The offering is expected to
close on or about June 28, 2018, subject to customary closing conditions.
The gross proceeds from the offering are expected to be approximately
$200 million before deducting customary underwriting discounts and
offering expenses. Heron intends to use the proceeds from the proposed
sale of its shares of common stock for the commercial launch of HTX-011,
if approved by the U.S. Food and Drug Administration, the continued
commercialization and marketing of SUSTOL® and CINVANTI®,
the company’s ongoing and future clinical trials, including further
clinical studies for HTX-011, preclinical development work, other
product development activities and general corporate purposes.
Jefferies is acting as sole book-running manager for the offering. The
underwriter may offer the shares from time to time for sale in one or
more transactions on The Nasdaq Capital Market, in the over-the-counter
market, through negotiated transactions or otherwise at market prices
prevailing at the time of sale, at prices related to prevailing market
prices or at negotiated prices.
The offering is being made pursuant to a registration statement that was
filed with the U.S. Securities and Exchange Commission (the “SEC”) and
became automatically effective on July 6, 2017. The securities described
above have not been qualified under any state blue sky laws. This press
release shall not constitute an offer to sell or the solicitation of an
offer to buy these securities, nor shall there be any sale of these
securities in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or other
jurisdiction. Copies of the final prospectus supplement (when available)
and accompanying prospectus relating to these securities may also be
obtained by sending a request to Jefferies LLC, Attention: Equity
Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New
York, New York 10022, by telephone at (877) 821-7388, or by email at Prospectus_Department@Jefferies.com.
This news release contains “forward-looking statements” as defined by
the Private Securities Litigation Reform Act of 1995. Heron cautions
readers that forward-looking statements are based on management’s
expectations and assumptions as of the date of this news release and are
subject to certain risks and uncertainties that could cause actual
results to differ materially, including, but not limited to, those
associated with: its capital position and the sufficiency of its capital
to fund its operations in future periods; its use of the net proceeds of
the proposed public offering; and other risks and uncertainties
identified in its filings with the SEC. Forward-looking statements
reflect its analysis only on their stated date, and Heron undertakes no
obligation to update or revise these statements except as may be
required by law.
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Source: Heron Therapeutics, Inc.
Investor Relations Contact:
Heron Therapeutics, Inc.
Senior Vice President, General Counsel,
Business Development & Corporate Secretary
Heron Therapeutics, Inc.
Senior Vice President, General Counsel, Business
Development & Corporate Secretary