MyoKardia (MYOK) Announces $450M Proposed Public Offering of Common Stock

MyoKardia, Inc. (Nasdaq: MYOK), a clinical-stage biopharmaceutical company discovering and developing targeted therapies for the treatment of serious cardiovascular diseases, today announced that it has commenced a proposed underwritten public offering to sell $450.0 million in shares of its common stock. MyoKardia expects to grant the underwriters a 30-day option to purchase up to $67.5 million in additional shares of common stock at the public offering price, less the underwriting discount. All shares of common stock will be offered by MyoKardia. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

MyoKardia anticipates using net proceeds from the offering, together with its existing cash, cash equivalents and short-term and long-term investments, to support the regulatory approval process and potential commercial launch of mavacamten for the treatment of obstructive hypertrophic cardiomyopathy (HCM), if approved; to fund ongoing and potential later-stage clinical studies of mavacamten in non-obstructive HCM and targeted heart failure with preserved ejection fraction (HFpEF), danicamtiv in targeted segments of systolic heart failure and MYK-224; to advance ACT-1 and LUS-1 into clinical development; to fund ongoing preclinical, discovery and research programs; and for working capital, business development and other general corporate purposes.

BofA Securities, J.P. Morgan and Credit Suisse are acting as joint bookrunning managers for the proposed offering. Cantor and Wells Fargo Securities are also acting as bookrunning managers in the offering. BMO Capital Markets and Wedbush PacGrow are acting as co-lead managers.

The shares described above are being offered by MyoKardia pursuant to an automatic shelf registration statement on Form S-3, including a base prospectus, which was previously filed with the Securities and Exchange Commission (SEC) and automatically became effective upon filing on March 8, 2018. The offering will be made only by means of a written prospectus and a prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov.

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