MyoKardia Announces Pricing of Public Offering of Common Stock

MyoKardia (Nasdaq:MYOK), a clinical-stage biopharmaceutical company pioneering a precision medicine approach for the treatment of heritable cardiovascular diseases, today announced the pricing of an underwritten public offering of 3,750,000 shares of its common stock at a public offering price of $49.00 per share, before underwriting discounts.

As quoted in the press release:

MyoKardia anticipates using the net proceeds from the offering, together with its existing cash, cash equivalents and short-term and long-term investments, to fund research and development activities for its development programs, including, but not limited to, its planned Phase 3 EXPLORER-HCM clinical trial of mavacamten and its planned Phase 2 clinical trial of MYK-491, as well as its other ongoing and planned clinical trials for mavacamten and MYK-491, its ongoing preclinical, discovery and research programs and the expansion of its platform, and for working capital and other general corporate purposes.

J.P. Morgan Securities, BofA Merrill Lynch, Credit Suisse and Wells Fargo Securities are acting as joint bookrunning managers for the offering. The offering is subject to market and other customary closing conditions, and there can be no assurance as to whether or when the offering may be completed.

Click here to read the full press release.