NATICK, Mass., June 25, 2014 (GLOBE NEWSWIRE) -- Karyopharm Therapeutics Inc. (Nasdaq:KPTI) today announced that it has commenced an underwritten public offering of 2,200,000 shares of its common stock. The offering is expected to consist of 2,000,000 shares to be offered by Karyopharm and 200,000 shares to be offered by existing stockholders. Karyopharm will not receive any proceeds from the sale of shares by the selling stockholders. In addition, Karyopharm intends to grant the underwriters a 30-day option to purchase up to an additional 330,000 shares of common stock.
BofA Merrill Lynch and Leerink Partners LLC are acting as joint book running managers for the offering. JMP Securities LLC, Wedbush PacGrow Life Sciences and Oppenheimer & Co. are acting as co-managers.
The offering is being made only by means of a prospectus, copies of which may be obtained from BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus Department, or via email, at firstname.lastname@example.org, or from Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA, 02110, or by phone at 1-800-808-7525, ext. 4814, or by email at Syndicate@leerink.com.
Although a registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission, it has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, 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.
Karyopharm Therapeutics Inc. (Nasdaq:KPTI) is a clinical-stage pharmaceutical company focused on the discovery and development of novel first-in-class drugs directed against nuclear transport targets for the treatment of cancer and other major diseases.
Any statements in this press release about future expectations, plans and prospects for Karyopharm Therapeutics Inc., including statements about Karyopharm's anticipated public offering, future expectations, plans and prospects for the company and other statements containing the words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "predict," "project," "target," "potential," "will," "would," "could," "should," "continue," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all, uncertainties inherent in the initiation of future clinical trials, expectations of expanding ongoing clinical trials and other factors discussed in the "Risk Factors" section of Karyopharm's Annual Report on Form 10-K for the year ended December 31, 2013, which is on file with the Securities and Exchange Commission (SEC), the "Risk Factors" section of Karyopharm's Registration Statement on Form S-1 related to this anticipated public offering, and in other filings that Karyopharm may make with the SEC in the future. Any forward-looking statements contained in this press release speak only as of the date hereof, and Karyopharm expressly disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.