SAN DIEGO, July 17, 2015 /PRNewswire/ -- Trovagene, Inc. (NASDAQ: TROV), a developer of cell-free molecular diagnostics, today announced the pricing of an underwritten public offering of 4,000,000 shares of its common stock. The gross proceeds to Trovagene from this offering are expected to be $35 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Trovagene. The offering is expected to close on or about July 22, 2015, subject to customary closing conditions. Trovagene has also granted to the underwriters a 30-day option to purchase from it up to an additional 600,000 shares of its common stock.
Trovagene intends to use the net proceeds from this offering to fund its research and development activities and for working capital and other general corporate purposes.
Piper Jaffray & Co. and Leerink Partners LLC are acting as joint book-running managers for the offering. Janney Montgomery Scott LLC, Cantor Fitzgerald & Co. and Maxim Group LLC are acting as co-managers for the offering.
A registration statement relating to these securities was previously filed with and has become effective by rule of the Securities and Exchange Commission. A preliminary prospectus supplement and the related prospectus have been filed with the SEC and are available on the SEC's website at www.sec.gov. Copies of the prospectus supplement and accompanying prospectus relating to the offering may be obtained, when available, from Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402 or by telephone at 800-747-3924 or by email at firstname.lastname@example.org; or from Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, or by email at email@example.com, or by phone at (800) 808-7525.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the shares in any state or other jurisdiction which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Trovagene, Inc.
Headquartered in San Diego, California, Trovagene is leveraging its proprietary technology for the detection and monitoring of cell-free DNA in urine. The Company's technology detects and quantitates oncogene mutations in cancer patients for improved disease management. Trovagene's precision cancer monitoring platform is designed to provide important clinical information beyond the current standard of care, and is protected by significant intellectual property including multiple issued patents and pending patent applications globally.
Certain statements contained in this release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward looking statements contained in this release relate to, among other things, the offering and, expected use of proceeds from the offering. They are generally identified by words such as "believes," "may," "expects," "anticipates," "should" and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The Company's actual results could differ materially due to risk factors and other items described in more detail in the "Risk Factors" section of the Company's Annual Reports filed with the SEC (copies of which may be obtained at www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.
SOURCE Trovagene, Inc.