OncoMed Pharma (OMED) Prices 5.5M Common Stock Offering for Net Proceeds of ~$51.4M

August 18, 2016 8:05 AM EDT

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OncoMed Pharmaceuticals, Inc. (Nasdaq: OMED) announced the pricing of an underwritten public offering of 5,500,000 shares of its common stock at a public offering price of $10.00 per share. Net proceeds to OncoMed from this offering are expected to be approximately $51.4 million after underwriting discounts and commissions and estimated offering expenses.

The offering is expected to close on or about August 23, 2016, subject to customary closing conditions. The Company has granted the underwriters of the offering the right for a period of 30 days to purchase up to an additional 825,000 shares of common stock at the public offering price, less underwriting discounts and commissions.

Leerink Partners LLC is acting as sole book-running manager for the proposed offering. Wells Fargo Securities, LLC and JMP Securities LLC are acting as co-managers.

OncoMed expects to use its existing cash, cash equivalents and short-term investments and the net proceeds from the offering for general corporate purposes, which may include, among other things, increasing its working capital, funding research and development, including its wholly-owned GITRL-Fc immuno-oncology program, and capital expenditures.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission (SEC) and became effective on July 22, 2015. The offering is being made only by means of a prospectus supplement, copies of which may be obtained by contacting Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA, 02110, by email at syndicate@leerink.com, or by telephone at (800) 808-7525, ext. 6142.

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