CytomX Therapeutics (CTMX) Prices 14.286M Share Common Offering at $7/Sh

CytomX Therapeutics, Inc. (NASDAQ: CTMX), a clinical-stage, oncology-focused biopharmaceutical company with a vision of transforming lives with safer, more effective therapies, today announced the pricing of an underwritten public offering of 14,285,714 shares of its common stock at a price to the public of $7.00 per share, for gross proceeds of $100 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by CytomX. All shares are being offered by CytomX. In addition, CytomX has granted the underwriters a 30-day option to purchase up to an additional 2,142,857 shares of its common stock at the public offering price, on the same terms and conditions.

CytomX expects to use the net proceeds from this offering to further develop its proprietary Probody® therapeutics pipeline and research. In particular, CytomX expects to use the net proceeds, together with existing cash resources, to fund: (i) the advancement and expansion of the clinical development program for CX-2009, including the ongoing Phase 2 study of CX-2009 as monotherapy and in combination with CX-072 in breast cancer; (ii) the advancement and expansion of the clinical development program for CX-2029, including the ongoing Phase 2 study of CX-2029 in four types of cancer; (iii) IND enabling studies for CX-2043 and CX-904, their IND submissions and Phase 1 clinical development; and (iv) further research and development activities related to our Probody platform, the tumor microenvironment, new drug candidates and translational sciences. CytomX expects to use any remaining net proceeds from this offering for capital expenditures, working capital and other general corporate purposes.

The offering is expected to close on or about January 25, 2021, subject to satisfaction of customary closing conditions.

J.P. Morgan Securities LLC, Cowen and Company, LLC and Piper Sandler are acting as joint bookrunning managers for the offering.

The securities are being offered pursuant to a registration statement that was filed with the Securities and Exchange Commission (“SEC”) on November 6, 2018, amended on February 6, 2019, and was declared effective on February 11, 2019.

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