Five Prime Therapeutics Prices Public Offering At $22/share - Quick Facts

(RTTNews) - Clinical-stage biotechnology company Five Prime Therapeutics, Inc. (FPRX) announced the pricing of an underwritten public offering of 3.41 million shares of its common stock at a price of $22.00 per share for an aggregate offering of $75.0 million, before underwriting discounts and commissions, structuring fees and estimated expenses.

All of the shares of common stock are being offered by Five Prime. In addition, Five Prime has granted the underwriters a 30-day option to purchase up to 511,500 additional shares of common stock at the offering price.

The offering is expected to close on January 12, 2015, subject to customary closing conditions.

Five Prime earlier said it plans to use the net proceeds of the offering, together with other available funds, to advance clinical development of its FPA008 program in PVNS and immuno-oncology, to advance the clinical development of its FPA144 program, to fund additional research and pre-clinical development activities for its immuno-oncology program and for working capital and other general corporate purposes.

Citigroup, Leerink Partners and Wells Fargo Securities are acting as joint book-running managers for the offering. Guggenheim Securities and Oppenheimer & Co. are acting as co-managers.