Turning Point Therapeutics Announces Pricing of Initial Public Offering

SAN DIEGO — Turning Point Therapeutics, Inc. (Nasdaq:TPTX), a clinical-stage precision oncology company designing and developing novel drugs to address treatment resistance, today announced the pricing of its initial public offering of 9,250,000 shares of its common stock at a price to the public of $18.00 per share. The gross proceeds to Turning Point Therapeutics from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be $166.5 million.

The shares are expected to begin trading on the Nasdaq Global Market on April 17, 2019 under the symbol “TPTX”. The offering is expected to close on April 22, 2019, subject to satisfaction of customary closing conditions. In addition, Turning Point Therapeutics has granted the underwriters a 30-day option to purchase up to an additional 1,387,500 shares of common stock at the initial public offering price less underwriting discounts and commissions.

Goldman Sachs & Co. LLC and SVB Leerink are acting as joint book-running managers for the offering. Wells Fargo Securities is also serving as a joint book-running manager. Canaccord Genuity is acting as lead manager.

The offering is being made only by means of a prospectus. Copies of the final prospectus related to the offering, when available, may be obtained from:

  • Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, via telephone: 1-866-471-2526 or via email: prospectus-ny@ny.email.gs.com;
  • SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at 1-800-808-7525, ext. 6132 or by email at syndicate@svbleerink.com; or
  • Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 375 Park Avenue, New York, NY 10152, or by telephone at 1-800-326-5897, or by email at cmclientsupport@wellsfargo.com.

Registration statements relating to these securities have been filed with the Securities and Exchange Commission and became effective on April 16, 2019. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Turning Point Therapeutics, Inc.

Turning Point Therapeutics is a clinical-stage precision oncology company with a pipeline of internally discovered investigational drugs designed to address key limitations of existing cancer therapies. The company’s lead program, repotrectinib, is a next-generation kinase inhibitor targeting genetic drivers of non-small cell lung cancer and advanced solid tumors. Repotrectinib has shown antitumor activity and durable responses among kinase inhibitor treatment-naïve and pre-treated patients, and is planned to enter a registrational Phase 2 study in the second half of 2019. Turning Point’s kinase inhibitors are designed to bind to their targets with greater precision and affinity than existing therapies, with a novel, compact structure that has demonstrated an ability to potentially overcome treatment resistance common with other kinase inhibitors. The company is driven to develop therapies that mark a turning point for patients in their cancer treatment.

Contacts

Turning Point Therapeutics, Inc.
Jim Mazzola
jim.mazzola@tptherapeutics.com
858-342-8272

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