Attached files
file | filename |
---|---|
8-K - FORM 8-K - Oncternal Therapeutics, Inc. | f57171e8vk.htm |
EX-5.1 - EX-5.1 - Oncternal Therapeutics, Inc. | f57171exv5w1.htm |
EX-1.1 - EX-1.1 - Oncternal Therapeutics, Inc. | f57171exv1w1.htm |
Exhibit 99.1
GTx Announces Pricing of Public Offering of Common Stock
MEMPHIS, TENN. October 27, 2010 GTx, Inc. (Nasdaq: GTXI) today announced the pricing of an
underwritten public offering of 14,285,715 shares of its common stock at a price to the public of
$2.80 per share. The gross proceeds to GTx from this offering are expected to be approximately
$40.0 million, before deducting underwriting discounts and commissions and other estimated offering
expenses. The offering is expected to close on or about November 1, 2010, subject to customary
closing conditions. GTx has also granted the underwriter a 30-day option to purchase up to an
additional 2,142,857 shares of common stock to cover over-allotments, if any. All of the shares in
the offering are to be sold by GTx.
GTx intends to use the net proceeds from this offering for clinical development and other research
and development activities and for working capital and general corporate purposes.
Lazard Capital Markets LLC is acting as sole book-running manager in the offering. A shelf
registration statement on Form S-3 relating to the shares was filed with the Securities and
Exchange Commission and is effective. A preliminary prospectus supplement relating to the offering
has been filed with the SEC and is available on the SECs web site at http://www.sec.gov. Copies of
the final prospectus supplement relating to the offering, when available, may be obtained from the
offices of Lazard Capital Markets LLC at 30 Rockefeller Plaza, 60th Floor, New York, NY, 10020 or
via telephone at (800) 542-0970, or from the above-mentioned SEC website.
This press release does not constitute an offer to sell, or the solicitation of an offer to buy,
these securities, nor will there be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale is not permitted.
About GTx
GTx, Inc., headquartered in Memphis, Tenn., is a biopharmaceutical company dedicated to the
discovery, development and commercialization of small molecules that selectively target hormone
pathways for the treatment and prevention of cancer, the treatment of side effects of anticancer
therapy, cancer supportive care, and other serious medical conditions.
Forward-Looking Information is Subject to Risk and Uncertainty
This press release contains forward-looking statements based upon GTxs current expectations.
Forward-looking statements include, but are not limited to, statements relating to GTxs
expectations regarding the completion and timing of the public offering. Forward-looking statements
involve risks and uncertainties. GTxs actual results and the timing of events could differ
materially from those anticipated in such forward-looking statements as a result of these risks and
uncertainties, which include, without limitation, risks and uncertainties related to the
satisfaction of customary closing conditions related to the public offering. There can be no
assurance that GTx will be able
to complete the public offering on the anticipated terms, or at
all. GTx will continue to need significant additional capital to fund its operations and may be
unable to raise capital when needed, which would force GTx to delay, reduce or eliminate its
product candidate development programs or commercialization efforts. You should not place undue
reliance on these forward-looking statements, which apply only as of the date of this press
release. Additional risks and uncertainties relating to the public offering, GTx and its business
can be found under the heading Risk Factors in GTxs preliminary prospectus supplement related to
the public offering filed with the Securities and Exchange Commission on October 26, 2010. GTx
expressly disclaims any obligation or undertaking to release publicly any updates or revisions to
any forward-looking statements contained herein to reflect any change in its expectations with
regard thereto or any change in events, conditions or circumstances on which any such statements
are based.
SOURCE: GTx, Inc.
GTx, Inc.
McDavid Stilwell, 901-523-9700
Director of Corporate Communications
McDavid Stilwell, 901-523-9700
Director of Corporate Communications