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Portola Pharmaceuticals Announces Proposed Offering of Common Stock
SOUTH SAN FRANCISCO, Calif.,
Portola intends to use the net proceeds from this offering, along with its other capital resources, to continue to advance its three lead assets independently to key milestones. Specifically, net proceeds from this offering will be used to fund BLA-enabling registration studies and related manufacturing to support the pursuit of an accelerated approval process for Andexanet alfa (PRT4445*), as well as the expansion of the Phase 1/2 proof-of-concept study of PRT2070 in additional types of hematologic cancers. The balance will be used for other research and development activities, such as the ongoing Phase 3 Betrixaban study, working capital, capital expenditures and general corporate purposes.
Although a registration statement relating to these securities has been filed with the
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 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.
Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Such statements include, but are not limited to, statements regarding the completion of the offering and anticipated use of proceeds, our plans for future clinical studies, and the pursuit of an accelerated approval process for Andexanet alfa. Risks that contribute to the uncertain nature of the forward-looking statements include uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all; the accuracy of Portola's estimates regarding its ability to initiate and/or complete its clinical studies;the success of Portola's clinical studies; regulatory developments in
*PRT4445 has a proposed International Nonproprietary Name (pINN) of Andexanet alfa.