The company plans to use the net proceeds from the offering primarily for activities relating to preparations for the potential commercial launch of pralatrexate, clinical and preclinical R&D of pralatrexate, working capital and general corporate purposes.
UBS Investment Bank was the sole manager for the offering. The company has granted the underwriter a 30-day option to purchase up to an additional 1.16 million shares to cover over-allotments, if any.