Harpoon Therapeutics (NASDAQ: HARP), a clinical-stage immunotherapy company, announced that it has closed on a previously announced underwritten public offering. The offering consisted of 6,764,704 shares of HARP common stock, including 882,352 additional shares pursuant to the full exercise of the over-allotment option granted to the underwriters. The shares were purchased for $17 a share; the completed IPO resulted in an estimated $15 million in gross proceeds for Harpoon Therapeutics. Harpoon Therapeutics intends to use the proceeds, along with additional available funds, as it continues the clinical development of four products: HPN424 (“HPN424”) is targeting metastatic castration-resistant prostate cancer, HPN536 (“HPN536”) for potential treatment of ovarian cancer and other solid tumors, HPN217 (“HPN217”) to treat multiple myeloma, and HPN328 (“HPN328”) for the treatment of small cell lung cancer and other neuroendocrine tumors expressing Delta-like canonical Notch ligand 3. The company may also use the funds to advance the development of other HARP pipeline candidates as well as for working capital and general corporate purposes. Roth Capital Partners acted as co-manager for the offering
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About Harpoon Therapeutics
Harpoon Therapeutics is a clinical-stage immunotherapy company developing a novel class of T cell engagers that harness the power of the body’s immune system to treat patients suffering from cancer and other diseases. T cell engagers are engineered proteins that direct a patient’s own T cells to kill target cells that express specific proteins, or antigens, carried by the target cells. Using its proprietary Tri-specific T cell Activating Construct (“TriTAC(R)”) platform, Harpoon is developing a pipeline of novel TriTACs initially focused on the treatment of solid tumors and hematologic malignancies. HPN424 targets PSMA (“PSMA”) and is in a Phase 1/2a trial for metastatic castration-resistant prostate cancer. HPN536 targets mesothelin and is in a Phase 1/2a trial for cancers expressing mesothelin, initially focused on ovarian and pancreatic cancers. HPN217 targets BCMA (“BCMA”) and is in a Phase 1/2 trial for relapsed, refractory multiple myeloma. HPN328 targets DLL3 (“DLL3”) and is in a Phase 1/2 trial for small cell lung cancer and other DLL3-associated tumors. Harpoon has also developed a proprietary ProTriTACTM platform, which applies a prodrug concept to its TriTAC platform to create a therapeutic T cell engager that remains inactive until it reaches the tumor. For more information about the company, please visit www.HarpoonTX.com.
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