SAN DIEGO, Calif.--(BUSINESS WIRE)--Mar. 28, 2018--
Heron Therapeutics, Inc. (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 6 million shares of its common stock, offered at a price of
$26.00 per share. Heron Therapeutics, Inc. has granted the underwriters
a 30-day option to purchase up to an additional 900,000 shares of common
stock on the same terms and conditions. All shares of common stock sold
in the offering are being sold by Heron Therapeutics, Inc. The offering
is expected to close on or about April 3, 2018, subject to customary
closing conditions.
The gross offering size will be $156 million before deducting customary
underwriting discounts and commissions and offering expenses. Heron
Therapeutics, Inc. intends to use the net proceeds from the underwritten
offering 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, Cowen and Evercore ISI are acting as joint book-running
managers for the offering; Cantor and JMP Securities are acting as lead
managers for the offering; and LifeSci Capital, Lake Street Capital
Markets, National Securities Corporation, Noble Capital Markets and
Northland Capital Markets are each acting as co-managers for the
offering.
The securities described above are being offered pursuant to a shelf
registration statement (File No. 333-219172), which became effective
automatically on July 6, 2017. A final prospectus supplement relating to
and describing the terms of the offering will be filed with the SEC. 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. The offering can be made only by means of a
prospectus, copies of which may be obtained at the SEC’s website at www.sec.gov,
or by request at 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;
Cowen and Company, LLC c/o Broadridge Financial Services, 1155 Long
Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department, or
by phone at (631) 274-2806; or Evercore Group L.L.C. at Attention Equity
Capital Markets, 55 East 52nd Street, 36th Floor, New York, NY 10055, by
telephone at (888)474-0200, or by email at ecm.prospectus@evercore.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, 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 registration or
qualification under the securities laws of any such state or other
jurisdiction.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180328006251/en/
Source: Heron Therapeutics, Inc.
Investor Relations Contact:
David Szekeres, 858-251-4447
Senior
Vice President, General Counsel, Business Development & Corporate
Secretary
dszekeres@herontx.com
or
Corporate
Contact:
David Szekeres, 858-251-4447
Senior Vice
President, General Counsel, Business Development & Corporate Secretary
dszekeres@herontx.com