G1 Releases Details of Upcoming IPO

G1 Therapeutics announced the beginning of its initial public offering of 6,250,000 common stock shares, intended to trade on the NASDAQ under the symbol GTHX.

As quoted in the press release:
In addition, the Company is expected to grant the underwriters a 30-day option to purchase up to an additional 937,500 shares of common stock at the public offering price, less the underwriting discount. The current expected initial public offering price is between $15.00 and $17.00 per share.

The Company intends to use the net proceeds from the offering to fund the development of its two clinical-stage product candidates and a preclinical-stage product candidate, for drug manufacturing expenses, and for working capital and other general corporate purposes.

J.P. Morgan Securities LLC and Cowen and Company, LLC will serve as joint book-running managers for the offering. Needham & Company, LLC and Wedbush Securities Inc. will serve as co-managers.

Click here to read the full press release.

Source: globenewswire.com