CytomX Therapeutics Prices $250M Offering of 45.99M Shares at $5.30
CytomX Therapeutics priced 45,990,567 common shares at $5.30 and issued pre-funded warrants for 1,179,245 shares, raising $250 million before fees. Net proceeds will finance Varseta-M and other pipeline programs, with any remainder allocated to capital expenditures, working capital and corporate purposes.
1. Offering Terms
CytomX Therapeutics has priced a public offering of 45,990,567 common shares at $5.30 per share and pre-funded warrants for 1,179,245 shares, generating gross proceeds of $250 million before underwriting discounts and commissions.
2. Overallotment Option and Closing
Underwriters hold a 30-day option to purchase up to 7,075,471 additional common shares at the public offering price, less underwriting discounts and commissions, with the transaction expected to close on March 19, 2026, subject to customary closing conditions.
3. Use of Proceeds
Net proceeds will support continued development of the Varseta-M ADC and other pipeline candidates, with any remaining funds earmarked for capital expenditures, working capital and general corporate purposes.