SPY303.53+4.45 1.49%
DIA255.77+5.52 2.21%
IXIC9,412.36+72.14 0.77%

MyoKardia Prices 5.25M Share Public Offering of Common Stock @$105/Share

MyoKardia, Inc.(NASDAQ: MYOK) announced the pricing of an underwritten public offering of 5,250,000 shares of its common stock at a public offering price of $105.00 per share, before underwriting discounts.

Benzinga · 05/13/2020 09:53

MyoKardia, Inc.(NASDAQ: MYOK) announced the pricing of an underwritten public offering of 5,250,000 shares of its common stock at a public offering price of $105.00 per share, before underwriting discounts. In addition, the underwriters have a 30-day option to purchase up to an additional 787,500 shares of common stock on the same terms and conditions. The offering is expected to close on or about May 15, 2020, subject to the satisfaction of customary closing conditions.

MyoKardia anticipates using net proceeds from the offering, together with its existing cash, cash equivalents and short-term and long-term investments, to support the regulatory approval process and potential commercial launch of mavacamten for the treatment of obstructive hypertrophic cardiomyopathy (HCM), if approved; to fund ongoing and potential later-stage clinical studies of mavacamten in non-obstructive HCM and targeted heart failure with preserved ejection fraction (HFpEF), danicamtiv in targeted segments of systolic heart failure and MYK-224; to advance ACT-1 and LUS-1 into clinical development; to fund ongoing preclinical, discovery and research programs; and for working capital, business development and other general corporate purposes.

BofA Securities, J.P. Morgan and Credit Suisse are acting as joint bookrunning managers for the proposed offering. Cantor and Wells Fargo Securities are also acting as bookrunning managers in the offering. BMO Capital Markets and Wedbush PacGrow are acting as co-lead managers.

The shares described above are being offered byMyoKardiapursuant to an automatic shelf registration statemen