Five Prime Announces Proposed Public Offering of Common Stock

Five Prime Therapeutics (Nasdaq:FPRX), a clinical-stage biotechnology company focused on discovering and developing innovative immuno-oncology protein therapeutics, announced today that it plans to offer and sell, subject to market and other conditions, $75,000,000 of shares of its common stock in an underwritten public offering.
As quoted in the press release:

Five Prime plans to use the net proceeds of the offering, together with other available funds, (i) to advance and expand the clinical development of Five Prime’s bemarituzumab (FPA144) program, including to fund Five Prime’s portion of the Phase 1/3 FIGHT trial outside of greater China, (ii) to advance clinical development of Five Prime’s cabiralizumab (FPA008) program in PVNS, (iii) to fund additional research and pre-clinical development of cabiralizumab in immuno-oncology outside of pancreatic cancer and in combination with other candidates in Five Prime’s research and development pipeline, (iv) to advance Five Prime’s FPA150 and FPT155 programs into clinical development, (v) to fund additional research and pre-clinical development activities for Five Prime’s other immuno-oncology programs and (vi) for working capital and general corporate purposes.

Click here to read the full press release.