WATERTOWN, MA--(BUSINESS WIRE)--Forma Therapeutics Holdings, Inc. (Nasdaq: FMTX), a clinical-stage biopharmaceutical company focused on rare hematologic diseases and cancers, today announced that it has launched a proposed public offering of 4,600,000 shares of its common stock.
All of the shares of common stock in the offering will be offered by Forma. In addition, Forma expects to grant the underwriters a 30-day option to purchase up to 690,000 additional shares of common stock. Together with its existing cash and cash equivalents, Forma intends to use the net proceeds of the offering for (i) the development of its lead program FT-4202 in sickle cell disease including completion of its ongoing Phase 1 clinical trial and, subject to the results of its Phase 1 clinical trial, the initiation and conduct of its planned, global pivotal Phase 2/3 clinical trial through Phase 3 dose selection and hemoglobin futility and hemoglobin improvement, the initiation and conduct of a clinical trial in pediatric sickle cell disease and the initiation and conduct of a clinical trial in beta thalassemia through an initial data readout; (ii) the advancement of FT-7051 in metastatic castration-resistant prostate cancer, through its planned Phase 1 clinical trial; and (iii) research and development, working capital, and general corporate purposes, including funding pre-approval activities for FT-2102 in acute myeloid leukemia and the completion of other noncore programs. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the proposed offering may be completed, or as to the actual size or terms of the proposed offering.
Jefferies, SVB Leerink and Credit Suisse are acting as joint book-running managers for the offering.
A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission (the “SEC”) but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any offer or sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
The proposed offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus may be obtained from: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at (877) 821-7388, or by email at prospectus_department@Jefferies.com; SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at (800) 808-7525, ext. 6132, or by email at firstname.lastname@example.org; or Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, by telephone at (800) 221-1037, or by email at email@example.com.
About Forma Therapeutics
Forma Therapeutics is a clinical-stage biopharmaceutical company focused on the development and commercialization of novel therapeutics to transform the lives of patients with rare hematologic diseases and cancers.
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are any statements that express the current beliefs and expectations of management, including but not limited to express or implied statements related to Forma’s ability to complete the financing and its use of proceeds. The words “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “target” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.
Any forward-looking statements in this press release are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, those risks and uncertainties related to the advancement of Forma’s clinical programs and other risks identified in Forma’s SEC filings, including those risks discussed under the heading “Risk Factors” in its Quarterly Report on Form 10-Q, filed on November 12, 2020, as well as the risks identified in the registration statement relating to the offering. Forma cautions you not to place undue reliance on any forward-looking statements, which speak only as of the date they are made. Forma disclaims any obligation to publicly update or revise any such statements to reflect any change in expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements. Moreover, except as required by law, neither Forma nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements included in this press release. Any forward-looking statements contained in this press release represent Forma’s views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date.