CytomX Therapeutics announces $250M common stock offering

CytomX Therapeutics (CTMX) announced that it has commenced an underwritten public offering of $250M of shares of common stock and, in lieu of common stock to certain investors, pre-funded warrants. All of the shares of common stock and pre-funded warrants are to be offered by CytomX. CytomX expects to use the net proceeds from this offering for the continued development of Varseta-M and other pipeline programs. CytomX expects to use any remaining net proceeds from this offering for capital expenditures, working capital and other general corporate purposes. Jefferies, Piper Sandler, Cantor and Barclays are acting as joint bookrunning managers for the offering. Wedbush PacGrow is acting as co-manager for the offering.