NEW YORK – Immatics said on Thursday that it plans to sell 16,250,000 shares of its common stock at $9.25 per share in a recently announced public offering that is expected to raise around $150 million in gross proceeds.
The Tübingen, Germany-based cell therapy developer has also granted underwriters a 30-day option to buy up to 2,437,500 additional shares at the public offering price, minus underwriting discounts.
Jefferies, BofA Securities, and Leerink Partners are the bookrunning managers for the offering.
Immatics said it plans to use the proceeds from the offering to further research and develop its pipeline of T-cell receptor (TCR)-based therapies and to advance its manufacturing, production, and commercialization infrastructure. It will also use the funds for working capital and general corporate purposes.
The public offering comes as Immatics is gearing up to launch a Phase III trial of its autologous TCR therapy, IMA203, in patients with PRAME-expressing, HLA-A*202-positive metastatic melanoma.
The plans for the Phase III trial, which Immatics has dubbed SUPRAME, are based on encouraging Phase Ib data.