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G1 Therapeutics Prices IPO Of 7 Mln Shares At $15/share; Raises $105 Mln

G1 Therapeutics, Inc., a clinical-stage oncology company, announced late Tuesday the pricing of its initial public offering of 7 million shares of common stock at a public offering price of $15 per share for aggregate gross proceeds of $105 million.

In addition, G1 Therapeutics has granted the underwriters a 30-day option to purchase up to 1.05 million additional shares of its common stock at the IPO price. The shares are scheduled to begin trading on The NASDAQ Global Select Market on May 17 under the ticker symbol "GTHX."

J.P. Morgan Securities LLC and Cowen and Company, LLC are acting as joint book-running managers for the offering. Needham & Company, LLC and Wedbush Securities Inc. are acting as co-managers.

Research Triangle Park, NC -based G1 Therapeutics develops novel, small-molecule therapies that address significant unmet needs in the treatment of cancer. Its two clinical-stage candidates are trilaciclib (G1T28) and G1T38, which are potent, selective inhibitors of the validated kinase targets CDK4/6.

Trilaciclib and G1T38 are designed to be combined and enhance the anti-tumor activity of current therapies. It is also developing G1T48, an oral selective estrogen receptor degrader (SERD) for the treatment of breast cancer.

The Company is evaluating trilaciclib in three Phase II clinical trials. G1T38 is being evaluated in combination with Faslodex in a Phase I b/II a trial for patients with estrogen receptor-positive, HER2-negative breast cancer.

by RTTNews Staff Writer

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