Forty Seven (NASDAQ: FTSV), a clinical stage immuno-oncology company, has closed an underwritten public offering of 10,781,250 shares of its common stock, which includes 1,406,250 additional shares per the full exercise of the over-allotment option granted to the underwriters. According to the update, the offering resulted in gross proceeds of approximately $86.3 million to Forty Seven, Inc., with each of the shares sold at the public offering price of $8.00. ROTH Capital Partners acted as co-manager for the offering.
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About Forty Seven, Inc.
Forty Seven, Inc. is a clinical-stage immuno-oncology company that is developing therapies targeting cancer immune evasion pathways based on technology licensed from Stanford University. Forty Seven’s lead program, 5F9, is a monoclonal antibody against the CD47 receptor, a “don’t eat me” signal that cancer cells commandeer to avoid being ingested by macrophages. This antibody is currently being evaluated in multiple clinical studies in patients with solid tumors, myelodysplastic syndrome, acute myeloid leukemia, non-Hodgkin’s lymphoma, ovarian cancer and colorectal carcinoma. For more information, please visit www.FortySevenInc.com.
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