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Business Wire
24-06-2025
- Business
- Business Wire
Forte Biosciences Announces Proposed Public Offering
DALLAS--(BUSINESS WIRE)--Forte Biosciences, Inc. (Nasdaq: FBRX), a clinical-stage biopharmaceutical company focused on autoimmune and autoimmune-related diseases, today announced that it has commenced an underwritten public offering of shares of its common stock and, in lieu of common stock to certain investors, pre-funded warrants to purchase shares of common stock. In addition, Forte expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the number of shares of common stock plus the shares of common stock underlying the pre-funded warrants sold in the offering. All of the shares of common stock and pre-funded warrants are being offered by Forte. The proposed offering is subject to market and other conditions and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering. Forte intends to use the net proceeds of the offering for working capital and other general corporate purposes, which includes funding clinical and preclinical development of its product candidate and other research activities. TD Cowen, Evercore ISI, Guggenheim Securities and Chardan are acting as joint book-running managers for the offering. Lucid Capital Markets is acting as co-manager for the offering. The offering is being made pursuant to a Registration Statement on Form S-3 (File No. 333-286226), including a base prospectus, previously filed with and declared effective by the SEC. A preliminary prospectus supplement and accompanying prospectus relating to and describing the terms of the offering will be filed with the SEC and copies of which, when available, can be accessed for free through the SEC's website at Copies of the preliminary prospectus supplement and accompanying prospectus relating to the offering, when available, may also be obtained from TD Securities (USA) LLC, 1 Vanderbilt Avenue, New York, NY 10017, by telephone at (855) 495-9846 or by email at Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, by telephone at (888)-474-0200, or by email at Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017, by telephone at (212) 518-9544, or by email at GSEquityProspectusDelivery@ and Chardan Capital Markets, LLC, One Pennsylvania Plaza, Suite 4800, New York, NY 10119. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities being offered, nor shall there be any sale of the securities being offered 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 any such state or other jurisdiction. About Forte Forte Biosciences, Inc. is a clinical-stage biopharmaceutical company that is advancing FB102, which is a proprietary anti-CD122 monoclonal antibody therapeutic candidate with potentially broad autoimmune and autoimmune-related indications. Forward Looking Statements Forte cautions you that statements included in this press release that are not a description of historical facts are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as 'may,' 'will,' 'should,' 'expect,' 'plan,' 'anticipate,' 'could,' 'intend,' 'target,' 'project,' 'contemplates,' 'believes,' 'estimates,' 'predicts,' 'potential' or 'continue' or the negatives of these terms or other similar expressions. These statements are based on the Forte's current beliefs and expectations. Forward-looking statements include statements regarding the completion, timing, and size of the offering, Forte's intent to grant the underwriters a 30-day option to purchase additional shares, and the anticipated use of proceeds from the offering. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation: whether or not Forte will be able to raise capital through the sale of securities or consummate the offering; the final terms of the offering; the satisfaction of customary closing conditions; prevailing market conditions; general economic and market conditions as well as geopolitical developments; and other risks. Additional risks, uncertainties, and other information affecting Forte's business and operating results are contained in Forte's Quarterly Report on Form 10-Q filed on May 15, 2025, and in its other filings with the Securities and Exchange Commission. All forward-looking statements in this press release are current only as of the date hereof and, except as required by applicable law, Forte undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise. All forward-looking statements are qualified in their entirety by this cautionary statement. This caution is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Source: Forte Biosciences, Inc.
Yahoo
23-06-2025
- Business
- Yahoo
Cidara Announces Proposed Public Offering of Common Stock
SAN DIEGO, June 23, 2025 (GLOBE NEWSWIRE) -- Cidara Therapeutics, Inc. ('Cidara') (Nasdaq: CDTX), a biotechnology company using its proprietary Cloudbreak® platform to develop drug-Fc conjugate (DFC) therapeutics, today announced its plans to commence an underwritten public offering, subject to market and other conditions, to issue and sell $250.0 million of shares of its common stock. All of the shares are being offered by Cidara. In connection with the proposed offering, Cidara expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of its common stock sold in the public offering. There can be no assurance as to whether or when the proposed offering may be completed or as to the actual size or terms of the proposed offering. J.P. Morgan, Morgan Stanley, Guggenheim Securities and Cantor are acting as joint book-running managers for the proposed offering. The proposed offering is being made pursuant to a shelf registration statement on Form S-3 that was filed with the U.S. Securities and Exchange Commission (the 'SEC') on May 8, 2025, and declared effective by the SEC on May 15, 2025. A preliminary prospectus supplement and accompanying prospectus relating to the proposed offering will be filed with the SEC and will be available for free on the SEC's website located at Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the proposed offering may be obtained, when available, from: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204, or by email at prospectus-eq_fi@ Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, or by email at prospectus@ Guggenheim Securities, LLC Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017 or by telephone at (212) 518-9544, or by email at GSEquityProspectusDelivery@ or Cantor Fitzgerald & Co. by mail at Attention: Capital Markets, 110 East 59th Street, New York 10022 or by email at prospectus@ 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 Cidara Therapeutics Cidara Therapeutics is using its proprietary Cloudbreak® platform to develop novel DFCs comprising targeted small molecules or peptides coupled to a proprietary human antibody fragment. Cidara's lead DFC candidate, CD388, is a long-acting antiviral designed to achieve universal prevention of seasonal and pandemic influenza with a single dose by directly inhibiting viral proliferation. In June 2023, CD388 was granted Fast Track Designation by the U.S. Food and Drug Administration, and Cidara announced completion of enrollment of its Phase 2b NAVIGATE trial in December 2024. Additional DFCs have been developed for oncology and in July 2024 Cidara received investigational new drug application clearance for CBO421 which is intended to target CD73 in solid tumors. Cidara is headquartered in San Diego, California. Forward-Looking Statements Statements contained in this press release regarding Cidara's expectations regarding the offering are 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding, among other things, Cidara's expectations regarding the completion, timing and size of the proposed offering and with respect to granting the underwriters a 30-day option to purchase additional shares. Forward-looking statements are based upon Cidara's current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks associated with market conditions and the satisfaction of closing conditions related to the proposed public offering and risks and uncertainties associated with Cidara's business and finances in general. These and other risks and uncertainties are described in greater detail in the section entitled 'Risk Factors' in Cidara's most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the SEC, as well as discussions of potential risks, uncertainties, and other important factors in Cidara's other filings with the SEC, including those contained or incorporated by reference in the preliminary prospectus supplement and accompanying prospectus related to the offering to be filed with the SEC. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. Cidara undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law. Investor Contact: Brian RitchieLifeSci Advisors(212) 915-2578britchie@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
09-06-2025
- Automotive
- Yahoo
Why this analyst is 'skeptical' about Tesla's robotaxi plans
Tesla (TSLA) stock is in focus as investors wait for the company's robotaxi event on Thursday. The autonomous taxi launch comes just after CEO Elon Musk and US President Trump's public fallout. Guggenheim Securities director of automotive equity research, Ron Jewsikow, a longtime Tesla bear, joins Morning Brief with Brad Smith and Madison Mills to discuss what to expect from the robotaxi rollout. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. Well, President Trump told NBC News this weekend that he had no desire to repair his relationship with Tesla CEO Elon Musk after the two exchanged heated blows on social media last week. Two Wall Street firms downgraded shares of the EV maker Monday after the stock fell more than 14% in the past week. Our next guest is a long-time Tesla bear with a sell rating and a $170 price target on the stock, Ron Josuko, Guggenheim Securities Automotive Equity Research director, joins us now. Ron, good to see you here with us this morning. So, I mean, just take us into, first, your thinking as the spat was playing out via social media and and Twitter fingers, essentially, were prevailing. But how much of this is an overhang to Tesla as an operation and as a manufacturer of vehicles? Yeah, it's a good question and and thanks for having me. I would say our basis for the stock has had very little to do with politics since, since Trump was elected, or before Trump was elected. But the the stock has clearly been sensitive to political headlines. The stock rallied almost 100% post election on this view that Trump would help deregulate autonomous vehicles and kind of clear a path for Tesla's robo taxi plans. We always thought that was a bit dubious. I think that states and local municipalities were always going to have a role to play in autonomous regulation. They do today and they will in the future. But there was clearly a bid in the stock on Tesla being tethered to to Trump. And we saw a lot of that unwind last week. For us, it doesn't change anything. We have not, we have not ascribed any value to any kind of political outcomes here, but it is, it is certainly creating a lot of noise in the stock. So what are those fundamental drivers, Ron, that you would want investors to perhaps refocus on to have good investor hygiene with regards to this name? Yeah, it's a good question. I mean, for us, we focus quite a bit on the vehicle business, the energy business and the potential robo taxi business. I think there's no denying that the robo taxi opportunity is a large opportunity. We just think it's much further into the future than, I think, the stock implies. Um, and in the meantime, the energy business is a nice growth driver, but it's nowhere near large enough to justify the current valuation and the auto business is deteriorating to the point where I I'm not sure it's free cash flow positive this year. Um, so and data through May looks, looks increasingly weak. There's been no acceleration on the new Model Y. So I think the fundamental drivers of the business, as it sits today, continues to skew negative. And then the robo taxi launch, we'll see how it goes. But I think the major question for us is when it goes from the planned 10 cars in Austin this month to something much larger and more generalized when this can actually go to multiple states. I know Tesla has pretty ambitious targets. I would say we're generally skeptical. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
09-06-2025
- Automotive
- Yahoo
Why this analyst is 'skeptical' about Tesla's robotaxi plans
Tesla (TSLA) stock is in focus as investors wait for the company's robotaxi event on Thursday. The autonomous taxi launch comes just after CEO Elon Musk and US President Trump's public fallout. Guggenheim Securities director of automotive equity research, Ron Jewsikow, a longtime Tesla bear, joins Morning Brief with Brad Smith and Madison Mills to discuss what to expect from the robotaxi rollout. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
19-05-2025
- Business
- Bloomberg
Guggenheim's Millstein Warns of Potential ‘Fiscal Disaster'
Congressional Republicans risk ' fiscal disaster ' if a recession hits as they push through sweeping tax cuts, Guggenheim Securities Co-Chair Jim Millstein warned. 'What today is 6.4% of GDP as a deficit, a $2.4 trillion deficit, could easily expand to $4 trillion if we had a recession,' Millstein said in an interview on Bloomberg Television. The cost estimates of the current GOP package 'assume consistent economic growth. So imagine we have a recession. In the last five or six recessions, the budget deficit actually blows out because tax revenues go down and spending increases.' A key House committee advanced President Donald Trump's giant tax and spending bill over the weekend. The Joint Committee on Taxation had pegged the total cost of the bill at $3.8 trillion over the next decade, though an analysis by the Committee for a Responsible Federal Budget says the outcome will be more dire. Long term Treasury yields have been rising this month in the wake of investor fiscal concern. Yields on the 30-year bond breached 5% Monday in the aftermath of Moody's announcement Friday that it was joining other ratings agencies in downgrading US sovereign debt to Aa1 from Aaa.
