CytomX Launches $250M Stock Offering with $37.5M Overallotment Option
CytomX Therapeutics has commenced an underwritten public offering of $250.0 million in common stock and pre-funded warrants, with underwriters granted a 30-day option to purchase up to an additional $37.5 million. Net proceeds will fund development of Varseta-M and other pipeline programs, with remaining funds for capital expenditures, working capital and corporate purposes.
1. Offering Structure and Size
CytomX Therapeutics has launched an underwritten public offering of $250.0 million of common stock and, in lieu of common stock to certain investors, pre-funded warrants. Underwriters have a 30-day option to purchase up to an additional $37.5 million of common stock at the public offering price, less discounts and commissions.
2. Use of Proceeds
Net proceeds from the offering will primarily support continued development of Varseta-M (CX-2051) and other pipeline programs. Any remaining funds will be allocated to capital expenditures, working capital and general corporate purposes.
3. Underwriting and Registration Details
Jefferies, Piper Sandler, Cantor Fitzgerald and Barclays are acting as joint bookrunners, with Wedbush PacGrow as co-manager. A shelf registration statement filed with the SEC on March 16, 2026, became effective upon filing, enabling the offering to proceed subject to market conditions.