Constellation Pharmaceuticals Announces Underwritten Public Offering

Strategic Insights -

Constellation Pharmaceuticals, a clinical-stage biopharmaceutical company specializing in epigenetics, has commenced an underwritten public offering of 4,000,000 shares of its common stock. The company plans to grant the underwriters a 30-day option to purchase an additional 600,000 shares. J.P. Morgan, Jefferies, Cowen, and RBC Capital Markets are acting as joint book-running managers for the offering. The shares are being offered by Constellation under an automatically effective shelf registration statement filed with the Securities and Exchange Commission on December 9, 2019. The company is developing novel therapeutics that selectively modulate gene expression to address unmet medical needs in patients with cancer.

Key Takeaways:

  • Constellation Pharmaceuticals has commenced an underwritten public offering of 4,000,000 shares of its common stock.
  • The company plans to grant the underwriters a 30-day option to purchase an additional 600,000 shares.
  • The joint book-running managers for the offering are J.P. Morgan, Jefferies, Cowen, and RBC Capital Markets.
  • Constellation has a deep understanding of epigenetic and chromatin modifications in cancer cells and the tumor immune microenvironment.
  • The company is driving development of the BET inhibitor CPI-0610 for myelofibrosis and the EZH2 inhibitor CPI-0209 for solid tumors.
  • The company's flagship product candidates aim to address serious unmet medical needs in patients with cancer.
  • Constellation's research and development capabilities are being applied to explore other novel targets that directly and indirectly impact gene expression.

Statistics:

  • 4,000,000 shares of common stock are being offered by Constellation in the underwritten public offering.
  • The underwriters have a 30-day option to purchase an additional 600,000 shares.
  • The collected proceeds from the public offering will be used to continue the company's mission of developing novel therapeutics.
  • The company has filed an automatically effective shelf registration statement with the SEC on December 9, 2019.

Sources:

  • Constellation Pharmaceuticals, press release dated June 15, 2020.
  • GlobeNewswire, "Constellation Pharmaceuticals, Inc. Announces Underwritten Public Offering", dated June 15, 2020.
  • Securities and Exchange Commission (SEC), "Registration Statement Filed under the Securities Act of 1933 Section 8(a) and Rule 420D", dated December 9, 2019.