ChemoCentryx Announces Closing of Public Offering of Common Stock and Full Exercise of Underwriters' Option to Purchase Additional Shares

MOUNTAIN VIEW, Calif., June 15, 2020 (GLOBE NEWSWIRE) -- ChemoCentryx, Inc. (Nasdaq: CCXI) announced today the completion of its follow-on offering of 5,200,000 shares of its common stock. ChemoCentryx also announced today that the underwriters of its follow-on offering exercised in full their option to purchase an additional 780,000 shares of common stock. All such shares were sold by ChemoCentryx at the follow-on public offering price of $58.00 per share. The net proceeds to ChemoCentryx from this offering are approximately $325.4 million, after deducting underwriting discounts and commissions and estimated offering costs.

SVB Leerink and Piper Sandler acted as joint lead bookrunning managers for the offering, Canaccord Genuity and Raymond James acted as joint bookrunning managers for the offering and H.C. Wainwright & Co. acted as lead manager for the offering.

A registration statement on Form S-3 relating to these securities became effective upon filing with the U.S. Securities and Exchange Commission (SEC) on June 10, 2020. The offering was made only by means of a prospectus supplement and accompanying prospectus, which were filed with the SEC and are available on the SEC’s website located at http://www.sec.gov. These documents may also be obtained from: SVB Leerink LLC, Attn: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at [phone], ext. 6218, or by email at [e-mail]; or Piper Sandler & Co., Attn: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, by telephone at [phone], or by email at [e-mail].

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or other jurisdiction.

About ChemoCentryx

ChemoCentryx is a biopharmaceutical company developing new medications targeted at inflammatory and autoimmune diseases and cancer. ChemoCentryx targets the chemokine and chemoattractant systems to discover, develop and commercialize orally-administered therapies.  

Forward-Looking Statements

ChemoCentryx cautions that statements included in this press release that are not a description of historical facts are forward-looking statements.  Words such as "may," "could," "will," "would," "should," "expect," "plan," "anticipate," "believe," "estimate," "intend," "predict," "seek," "contemplate," "potential," "continue" or "project" or the negative of these terms or other comparable terminology are intended to identify forward-looking statements.  These statements are based on the Company's current beliefs and expectations.  The inclusion of forward-looking statements should not be regarded as a representation by ChemoCentryx that any of its plans will be achieved.  Actual results may differ from those set forth in this release due to the risks and uncertainties inherent in the ChemoCentryx business and other risks described in the Company's filings with the SEC.  Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and ChemoCentryx undertakes no obligation to revise or update this news release to reflect events or circumstances after the date hereof.  Further information regarding these and other risks is included under the heading "Risk Factors" in ChemoCentryx's periodic reports filed with the SEC, including ChemoCentryx's Annual Report on Form 10-K filed with the SEC on March 10, 2020 and its other reports which are available from the SEC's website (www.sec.gov). All forward-looking statements are qualified in their entirety by this cautionary statement.  This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995.

Contacts:

Susan M. Kanaya
Executive Vice President, Chief Financial and Administrative Officer
[e-mail]

Media:
Stephanie Tomei
408.234.1279
[e-mail]

Investors:
Burns McClellan, Inc.
William Slattery, Jr.
212.213.0006
[e-mail]

Source: ChemoCentryx, Inc.