Friday, April 19, 2024 6:06:53 PM
https://www.biospace.com/article/releases/tscan-therapeutics-announces-closing-of-upsized-public-offering/
Published: Apr 19, 2024
WALTHAM, Mass., April 19, 2024 (GLOBE NEWSWIRE) -- TScan Therapeutics, Inc. (Nasdaq: TCRX), a clinical-stage biopharmaceutical company focused on the development of T cell receptor (TCR)-engineered T cell therapies (TCR-T) for the treatment of patients with cancer, today announced the closing of an underwritten public offering of 2,472,581 shares of its voting common stock at a public offering price of $7.1300 per share, which was equal to the closing price of its voting common stock on the Nasdaq Global Market on April 16, 2024, and pre-funded warrants to purchase up to an aggregate of 18,577,419 shares of its voting common stock at a price to the public of $7.1299 per pre-funded warrant to purchase one share of the voting common stock, which represents the per share public offering price for the voting common stock less the $0.0001 per share exercise price for each such pre-funded warrant. In addition, TScan has granted the underwriters a 30-day option to purchase up to an additional 3,157,500 shares of its voting common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds to TScan from this offering were approximately $150.1 million, prior to any exercise of the underwriters’ option to purchase additional shares of voting common stock and before deducting underwriting discounts and commissions and other estimated offering expenses payable by TScan.
Morgan Stanley and TD Cowen acted as joint book-running managers for the offering. LifeSci Capital acted as lead manager, and BTIG, H.C. Wainwright & Co. and Needham & Company acted as co-managers for the offering.
The Company intends to use the net proceeds from the offering for general corporate purposes. Following this offering, and excluding any additional proceeds from the underwriters’ exercise of their over-allotment option, the Company expects its cash, cash equivalents and marketable securities will fund its current operating plan into the fourth quarter of 2026.
A registration statement on Form S-3 (File No. 333-277699) relating to these securities was filed with the Securities and Exchange Commission (the SEC) on March 6, 2024, and was declared effective by the SEC on April 12, 2024. The offering was made only by means of a preliminary prospectus supplement and accompanying filed with the SEC. A final prospectus supplement and accompanying prospectus relating to the offering has been filed with the SEC. These documents are available for free on the SEC’s website at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, telephone: (866) 718-1649 or by emailing prospectus@morganstanley.com, or TD Securities (USA) LLC, 1 Vanderbilt Avenue, New York, NY 10017, by telephone at (855) 495-9846 or by email at TD.ECM_Prospectus@tdsecurities.com.
This press release shall not constitute an offer to sell or a 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.
Recent TCRX News
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/13/2024 11:30:28 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/13/2024 11:15:25 AM
- TScan Therapeutics Reports First Quarter 2024 Financial Results and Provides Corporate Update • GlobeNewswire Inc. • 05/13/2024 11:00:00 AM
- TScan Therapeutics Announces First Patient Dosed in Phase 1 Clinical Trial Evaluating TCR-T Therapy for the Treatment of Solid Tumors • GlobeNewswire Inc. • 05/09/2024 11:00:00 AM
- TScan Therapeutics Announces Upcoming Presentations at the 2024 American Society of Clinical Oncology Annual Meeting • GlobeNewswire Inc. • 04/24/2024 08:05:34 PM
- TScan Therapeutics Announces Exercise of Underwriters' Option to Purchase Additional Shares • GlobeNewswire Inc. • 04/24/2024 03:03:30 PM
- TScan Therapeutics Announces Upcoming Presentations at the American Society of Gene and Cell Therapy 27th Annual Meeting • GlobeNewswire Inc. • 04/22/2024 09:01:23 PM
- TScan Therapeutics Announces Closing of Upsized Public Offering • GlobeNewswire Inc. • 04/19/2024 02:05:23 PM
- TScan Therapeutics Announces Pricing of Upsized $150 Million Public Offering • GlobeNewswire Inc. • 04/17/2024 04:30:57 AM
- TScan Therapeutics Announces Launch of $125 Million Proposed Public Offering • GlobeNewswire Inc. • 04/16/2024 08:25:22 PM
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- TScan Therapeutics Appoints Seasoned Hematology and Oncology Expert Chrystal U. Louis, M.D., M.P.H., as Chief Medical Officer • GlobeNewswire Inc. • 04/08/2024 12:00:00 PM
- TScan Therapeutics Announces Upcoming Presentation at the 23rd Annual Needham Virtual Healthcare Conference • GlobeNewswire Inc. • 04/02/2024 11:00:00 AM
- Form S-3 - Registration statement under Securities Act of 1933 • Edgar (US Regulatory) • 03/06/2024 09:11:41 PM
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