Oncorus Announces Pricing of Initial Public Offering
CAMBRIDGE, Mass., Oct. 01, 2020 (GLOBE NEWSWIRE) -- Oncorus, Inc., a clinical stage biopharmaceutical company focused on developing next-generation viral immunotherapies to transform outcomes for cancer patients, today announced the pricing of its initial public offering of 5,800,000 shares of common stock at a price to the public of $15.00 per share. The gross proceeds to Oncorus, before deducting underwriting commissions and offering expenses, are expected to be approximately $87.0 million. All of the shares of common stock are being offered by Oncorus. In addition, Oncorus has granted the underwriters a 30-day option to purchase up to 870,000 additional shares of common stock at the initial public offering price less underwriting discounts and commissions.
The shares are expected to begin trading on the Nasdaq Global Select Market under the ticker symbol “ONCR” on October 2, 2020, and the offering is expected to close on or about October 6, 2020, subject to customary closing conditions.
Jefferies, Evercore ISI and Piper Sandler are acting as joint book-running managers for the offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
This press release contains certain forward-looking statements, including statements with regard to the timing and completion of Oncorus’ proposed initial public offering and its expectations regarding the commencement of trading on the Nasdaq Global Market. Words such as "anticipates," "believes," "expects," "intends," "projects," "anticipates," and "future" or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions and no assurance can be given that the proposed initial public offering discussed above will be consummated on the terms described or at all. Completion of the proposed initial public offering and the terms thereof are subject to numerous factors, many of which are beyond the control of Oncorus, including, without limitation, market conditions, failure of customary closing conditions and the risk factors and other matters set forth in Oncorus’ filings with the Securities and Exchange Commission. Oncorus undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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