Neoleukin Therapeutics (NLTX) Announces Proposed $50M Public Offering of Common Stock

(Updated - December 17, 2019 4:39 PM EST)

Neoleukin Therapeutics, Inc. (Nasdaq: NLTX), a biopharmaceutical company utilizing sophisticated computational methods to design de novo protein therapeutics, today announced that it intends to offer and sell, subject to market and other conditions, up to $50.0 million of shares of its common stock in an underwritten public offering. Neoleukin expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock sold in the offering. All of the shares are being offered by Neoleukin. 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.

BofA Securities, Piper Jaffray and Guggenheim Securities are acting as joint book-running managers for the offering. Canaccord Genuity is acting as lead manager for the offering. Neoleukin intends to use the net proceeds from the offering, together with its existing cash resources, to advance development of its lead program, NL-201, to expand its de novo protein design technology, to develop its preclinical pipeline and to fund working capital and for general corporate purposes, including capital improvements to properties it leases.

The securities are being offered by Neoleukin pursuant to a registration statement on Form S-3 previously filed and declared effective by the Securities and Exchange Commission (SEC).

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