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Chinook Therapeutics Announces Proposed Public Offering | ||
By: GlobeNewswire - 24 May 2022 | Back to overview list |
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SEATTLE, May 24, 2022 (GLOBE NEWSWIRE) -- Chinook Therapeutics, Inc. (Nasdaq: KDNY), a biopharmaceutical company focused on the discovery, development and commercialization of precision medicines for kidney diseases, today announced that it has commenced an underwritten public offering of its common stock, and, in lieu of common stock, to offer and sell to certain investors pre-funded warrants to purchase shares of its common stock. In addition, Chinook intends to grant the underwriters a 30-day option to purchase additional shares of its common stock offered in the public offering at the public offering price less underwriting discounts and commissions. All of the shares will be offered and sold by Chinook. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. SVB Securities, Cantor and William Blair are acting as joint book-running managers for the proposed offering. Wedbush PacGrow is acting as lead manager for the proposed offering. Chinook intends to use the net proceeds from this offering to continue its phase 3 ALIGN and phase 2 AFFINITY trials of atrasentan, fund a phase 3 clinical trial of BION-1301, continue development of CHK-336 and prepare for the potential commercial launch of atrasentan. The remainder of the net proceeds, if any, will be used for general corporate purposes. The public offering will be made pursuant to a shelf registration statement on Form S-3ASR that was previously filed by Chinook with the Securities and Exchange Commission (“SEC”) on May 24, 2022 which became automatically effective upon filing with the SEC. A preliminary prospectus supplement relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus and accompanying prospectus relating to the offering will be available, when filed, on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus and the accompanying prospectus relating to the offering may be obtained from: SVB Securities LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by telephone at (800) 808-7525, ext. 6105, or by email at syndicate@svbsecurities.com; Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 4th floor, New York, NY 10022 by email at prospectus@cantor.com; or William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, by telephone at (800) 621-0687, or by email at prospectus@williamblair.com. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of Chinook, 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. About Chinook Therapeutics, Inc. Forward-Looking Statements CONTACT: Contact: Chinook Therapeutics Noopur Liffick Vice President, Investor Relations & Corporate Communications investors@chinooktx.com media@chinooktx.com |
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