Definium Therapeutics prices $700M public offering at $34 per share

Definium Therapeutics, Inc. (Nasdaq: DFTX) has priced an underwritten public offering of 20,588,236 common shares at $34.00 per share, according to a company statement. The offering is expected to generate approximately $700 million in gross proceeds before underwriting discounts, commissions, and other expenses.

The New York-based biopharmaceutical company has also granted underwriters a 30-day option to purchase up to an additional 3,088,235 common shares at the same offering price, less underwriting discounts and commissions. All shares are being offered by Definium.

The company said it intends to use the net proceeds for research and development of its product candidates, preparation activities for the potential commercialization of DT120 ODT if approved, and working capital 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, while Oppenheimer & Co. and LifeSci Capital are co-lead managers.

The offering is expected to close on or about June 25, 2026, subject to customary closing conditions. The securities are being offered pursuant to a shelf registration statement on Form S-3 filed with the Securities and Exchange Commission on June 28, 2024.

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