Announcement
Definium Therapeutics Inc (NASDAQ: DFTX) disclosed that it intends to conduct an underwritten public offering of common shares and pre‑funded warrants valued at up to $500 million. The announcement triggered a 3.1% decline in the company’s share price during after‑hours trading on Monday.
Offering Structure
The offering will be conducted subject to market conditions, with no guarantee regarding its completion, final size, or specific terms. Underwriters have been granted a 30‑day option to purchase additional common shares amounting to up to $75 million at the public offering price, less applicable underwriting discounts and commissions.
Use of Proceeds
Definium stated that the net proceeds from the offering will be allocated to research and development of its pipeline product candidates, to preparation activities for the potential commercialization of its DT120 orally disintegrating tablet (ODT) should regulatory approval be obtained, and to working capital and general corporate purposes.
Bookrunning Syndicate
J.P. Morgan, Jefferies, Leerink Partners and BofA Securities are acting as joint lead bookrunners. Evercore ISI and Stifel are also serving as bookrunners, while Oppenheimer & Co. and LifeSci Capital are acting as co‑lead managers for the transaction.
Company Profile
Definium Therapeutics is a late‑stage clinical biopharmaceutical company focused on developing therapeutics that address the underlying causes of psychiatric and neurological disorders. The company is headquartered in New York.