Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Fri, March 29, 9:20 AM
This Slide: #324 of 619 |
Slide #324. Cascadian Therapeutics, Inc. — Preferred Stock Offering
Company:
Cascadian Therapeutics, Inc. (CASC)
Date announced:
6/23/2016
Shares Offered:
17,250
Date of Pricing:
6/23/2016
Price Per Share:
$800.00
Preferred Stock Offering Details:
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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Hold (2.40 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
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