Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Sun, December 3, 5:21 AM

Slide #321. Cascadian Therapeutics, Inc. Preferred Stock Offering

Company: Cascadian Therapeutics, Inc. (CASC)
Date announced: 6/22/2016
Shares Offered: 35,000,000
Date of Pricing: 6/23/2016
Price Per Share: $0.80
Preferred Stock Offering Details: Cascadian Therapeutics, Inc. (NASDAQ:CASC) today announced that it intends to offer and sell shares of its common stock in an underwritten public offering. As part of the offering, Cascadian Therapeutics also expects to grant the underwriters a 30-day option to purchase additional shares of its common stock to cover over-allotments, if any. The offering is being conducted by means of a prospectus supplement. The offering is subject to market conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or term of the offering. -updated 6/23- Cascadian Therapeutics, Inc. (NASDAQ:CASC) today announced the pricing of the previously announced underwritten offering of 35,000,000 shares of its common stock at a price to the public of $0.80 per share, for expected gross proceeds of $28.0 million. As part of the common stock offering, Cascadian Therapeutics granted the underwriters a 30-day option to purchase 5,250,000 additional shares of Cascadian Therapeutics common stock. In addition, Cascadian Therapeutics agreed to sell 17,250 shares of its Series D Convertible Preferred Stock at a price of $800.00 per share directly to affiliates of BVF Partners L.P., which are existing stockholders and affiliates of a member of the board of directors of Cascadian Therapeutics, for expected gross proceeds of $13.8 million

Cascadian Therapeutics is a clinical-stage biopharmaceutical company focused on the development of therapeutic products for the treatment of cancer. Co.'s primary development candidate, tucatinib, is an orally bioavailable, potent tyrosine kinase inhibitor that is selective for HER2, a growth factor receptor that is over-expressed in about 20.0% of breast cancers. Co. is developing tucatinib for the treatment of HER2-positive metastatic breast cancer. Co.'s earlier stage product candidate, CASC-578, is a checkpoint kinase 1 cell cycle inhibitor that is an orally available, small molecule kinase inhibitor and additionally Co. has an antibody against an immuno-oncology target known as TIGIT.
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