LianBio just came out with a new prospectus, available here. This is an SEC requirement for firms looking to issue certain types of securities. An excerpt of the prospectus is provided below:
We estimate that the net proceeds to us from our issuance and sale of 20,312,500 ADSs in this offering will be approximately $296.8 million (or
approximately $342.1 million if the underwriters exercise in full their option to purchase additional ADSs), after deducting underwriting discounts and commissions and estimated offering expenses payable by us. This estimate is based on the initial
public offering price of $16.00 per ADS.
We intend to use the net proceeds of this offering as follows:
Based on our planned use of the net proceeds, we estimate such funds, together with our existing cash, cash equivalents and restricted cash, will be
sufficient for us to fund our operating expenses and capital expenditure requirements through at least the next 24 months.
The specific allocation
of the proceeds from this offering and our current cash, cash equivalents and restricted cash towards specific programs will depend on, among other things, results from our research and development efforts for each program, the timing and success of
our clinical studies, the timing of patient enrollment, evolving regulatory requirements and the timing and outcome of regulatory submissions. As a result, and due to the number of our programs currently in clinical development, we currently are
unable to specify with reasonable accuracy the stage of development to which the proceeds from this offering and our current cash, cash equivalents and restricted cash will enable us to progress the development of each program, other than with
respect to our three lead programs, mavacamten, TP-03 and NBTXR3. With respect to mavacamten, TP-03 and NBTXR3, we expect the proceeds from this offering and our current cash, cash equivalents and restricted cash will be sufficient for us to
complete the local Phase 3 and PK clinical trials of mavacamten for oHCM, the local Phase 3 clinical trial of TP-03 for DB and our part of the global Phase 3 clinical trial of NBTXR3 (NANORAY-312) for H&N cancer.
The expected use of net proceeds from this offering represents our intentions based upon our current plans and business conditions, which we could
change in our discretion in the future as our plans and business conditions evolve. The amounts and timing of our actual expenditures may vary significantly depending on numerous factors, including the progress of our development, such as any
collaborations or licensing agreements we may enter into with third parties for any additional product candidates we may in-license, the status of and results from the
pre-clinical and clinical trials of our product candidates, and our operating costs and expenditures. As a result, our management will have broad discretion over the use of the net proceeds from this offering
and may change the allocation of use of these proceeds among the uses described above. An investor will not have the opportunity to evaluate the economic, financial or other information on which we base our decisions on how to use the proceeds.
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The above information was disclosed in a filing to the SEC. To see the filing, click here.
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