Definium Therapeutics, Inc. (Nasdaq: DFTX) announced a proposed underwritten public offering of $500 million in common shares, with pre-funded warrants also available to certain investors, according to a press release from the company.

The biopharmaceutical company also stated it intends to grant underwriters a 30-day option to purchase up to an additional $75 million in common shares at the public offering price, less underwriting discounts and commissions.

Definium said it plans to use proceeds from the offering for research and development of its product candidates, preparation for potential commercialization of its DT120 ODT candidate if approved, and general corporate purposes.

J.P. Morgan, Jefferies, Leerink Partners, and BofA Securities are serving as joint lead bookrunners. Evercore ISI and Stifel are acting as bookrunners. Oppenheimer & Co. and LifeSci Capital are co-lead managers.

The offering is being made under a shelf registration statement filed with the Securities and Exchange Commission on June 28, 2024. The company noted that completion of the offering is subject to market conditions, and no assurance was given that it would be completed.