Five Prime Plans Up To $75 Mln Stock Offering

(RTTNews) - Five Prime Therapeutics Inc (FPRX), a clinical-stage biotechnology company, on Monday announced plans to offer up to $75 million of shares of its common stock in an underwritten public offering.

In connection with the offering, Five Prime intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering.

Five Prime plans to use the net proceeds of the offering, together with other available funds, to advance clinical development of its FPA008 program in PVNS and immuno-oncology, to advance the clinical development of its FPA144 program, to fund additional research and pre-clinical development activities for its immuno-oncology program and for working capital and other general corporate purposes.