Baird served as a co-placement agent on this offering.
AboutGTx, Inc. (“GTx” or the “Company”) (NASDAQ:GTXI) recently completed a Private Investment in Public Equity offering of 5,483,320 common shares at a price of $8.845, generating gross proceeds of $48.5 million. The Company also issued warrants to purchase up to 3,289,988 additional shares of common stock at a strike price of $9.02. GTx intends to use the net proceeds from the offering to advance the development of its clinical stage products, namely enobosarm, a Phase II candidate being developed for the treatment of Stress Urinary Incontinence (SUI).
GTx is a clinical-stage biopharmaceutical company dedicated to the discovery, development and commercialization of small molecules for the treatment of SUI and prostate cancer. The Company’s current strategy is focused on the further development of selective androgen receptor modulators (SARMs), a class of drugs that is believed to have the potential to be used as a hormonal therapy, to treat serious muscle-related diseases that may benefit from increasing muscle mass, such as SUI, and to treat advanced breast cancer. In 2015, the Company entered into an exclusive worldwide license agreement with the University of Tennessee Research Foundation, or UTRF, to develop its proprietary selective androgen receptor degrader (SARD) technology, which GTx believes has the potential to provide compounds that can degrade multiple forms of androgen receptor (AR) by inhibiting tumor growth in patients with progressive castration-resistant prostate cancer (CRPC) including those patients who do not respond to or are resistant to current therapies. GTx is headquartered in Memphis, Tennessee.
CONTACT US TO LEARN MORE
- October 2017
- GTx, Inc.
- Target Location
- North America