Reata Pharmaceuticals, Inc. Announces Proposed Public Offering of Class A Common Stock
13 November 2019 - 8:01AM
Reata Pharmaceuticals, Inc. (Nasdaq: RETA) (“Reata” or the
“Company”), a clinical-stage biopharmaceutical company, today
announced its intention to offer and sell 2,000,000 shares of its
Class A common stock in an underwritten public offering pursuant to
an existing shelf registration statement. The offering is subject
to market conditions, and there can be no assurance as to whether
or when the offering may be completed or as to the actual size or
terms of the offering.
Citigroup, Jefferies, SVB Leerink and Stifel are
acting as the joint book-running managers for the offering. Reata
intends to grant the underwriters a 30-day option to purchase up to
300,000 additional shares of its Class A common stock, on the same
terms and conditions as the shares offered in the public
offering.
Reata intends to use the net proceeds from the
offering for working capital and general corporate purposes, which
include, but are not limited to, advancing the development of
bardoxolone methyl and omaveloxolone through clinical trials,
preparing to file New Drug Applications for bardoxolone for the
treatment of patients with Alport syndrome and omaveloxolone for
the treatment of patients with Friedreich’s ataxia, planning for
commercialization of its potential products, and making payments
due under its agreement with AbbVie Inc.
The securities described above are being offered
pursuant to an effective shelf registration statement on Form S-3.
The offering may be made only by means of a written prospectus and
prospectus supplement that form a part of the registration
statement. A preliminary prospectus supplement and accompanying
prospectus relating to the offering has been filed with the
Securities and Exchange Commission (the “SEC”) and is available on
the SEC’s website at www.sec.gov. Copies of the preliminary
prospectus supplement and the accompanying prospectus may also be
obtained by request at Citigroup, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Tel:
800-831-9146); at Jefferies, Attention: Equity Syndicate Prospectus
Departments, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by
phone at (877) 821-7388, or by email at
Prospectus_Department@Jefferies.com; at SVB Leerink, Attention:
Syndicate Department, One Federal Street, 37th Floor, Boston, MA
02110, by telephone at 1-800-808-7525, ext. 6132, or by email at
syndicate@svbleerink.com; or Stifel, Attention: Syndicate, One
Montgomery Street, Suite 3700, San Francisco, CA 94104, or by
telephone at (415) 364-2720, or by email at
syndprospectus@stifel.com.
This news release is for informational purposes
only and shall not constitute an offer to sell or the solicitation
of an offer to buy, nor shall there be any sale of these
securities, in any state or jurisdiction in which such offer,
solicitation or sale of these securities would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Reata Pharmaceuticals,
Inc.
Reata is a clinical-stage biopharmaceutical
company that develops novel therapeutics for patients with serious
or life-threatening diseases by targeting molecular pathways
involved in the regulation of cellular metabolism and inflammation.
Reata’s two most advanced clinical candidates, bardoxolone methyl
(bardoxolone) and omaveloxolone, target the important transcription
factor Nrf2 that promotes restoration of mitochondrial function,
reduction of oxidative stress, and inhibition of pro-inflammatory
signaling. Bardoxolone and omaveloxolone are
investigational drugs, and their safety and efficacy have not been
established by any agency.
Forward-Looking Statements
This press release includes certain disclosures
that contain “forward-looking statements,” including, without
limitation, statements regarding the anticipated public offering
and the anticipated use of proceeds of the offering, the success,
cost and timing of our product development activities and clinical
trials, our plans to research, develop and commercialize our
product candidates, our plans to submit regulatory filings, and our
ability to obtain and retain regulatory approval of our product
candidates. You can identify forward-looking statements because
they contain words such as “believes,” “will,” “may,” “aims,”
“plans,” “model,” and “expects.” Forward-looking statements
are based on Reata’s current expectations and assumptions. Because
forward-looking statements relate to the future, they are subject
to inherent uncertainties, risks, and changes in circumstances that
may differ materially from those contemplated by the
forward-looking statements, which are neither statements of
historical fact nor guarantees or assurances of future
performance. Important factors that could cause actual
results to differ materially from those in the forward-looking
statements include, but are not limited to, (i) the uncertainties
related to market conditions and the completion of the public
offering on the anticipated terms or at all; (ii) the timing,
costs, conduct, and outcome of our clinical trials and future
preclinical studies and clinical trials, including the timing of
the initiation and availability of data from such trials; (iii) the
timing and likelihood of regulatory filings and approvals for our
product candidates; (iv) whether regulatory authorities determine
that additional trials or data are necessary in order to obtain
approval; (v) the potential market size and the size of the patient
populations for our product candidates, if approved for commercial
use, and the market opportunities for our product candidates; and
(vi) other factors set forth in Reata’s filings with the U.S.
Securities and Exchange Commission, including its Annual Report on
Form 10-K for the year ended December 31, 2018 and Quarterly Report
on Form 10-Q for the quarter ended June 30, 2019, under the caption
“Risk Factors.” The forward-looking statements speak only as of the
date made and, other than as required by law, we undertake no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events,
or otherwise.
Contact:Reata Pharmaceuticals,
Inc.(972) 865-2219info@reatapharma.com
Investor Relations:Vinny
JindalVice President, Strategy(469) 374-8721ir@reatapharma.com
Media:Matt Middleman,
M.D.LifeSci Public Relations(646)
627-8384matt.middleman@lifescipublicrelations.com
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