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Neoleukin Therapeutics seeks to raise $75M via common stock offering

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Neoleukin Therapeutics seeks to raise $75M via common stock offering

Neoleukin Therapeutics Inc. seeks to raise about $75 million in gross proceeds from a public offering of its common stock.

The Seattle-based biotechnology company is offering 8,925,000 shares for $8.40 each. Underwriters have also been given an option to buy up to an additional 1,338,750 common shares, Neoleukin Therapeutics said in a Dec. 17 press release.

The offering is expected to close Dec. 20, the company added.

Net proceeds will primarily be used to advance the clinical development of the company's experimental treatment NL-201. The company will also use the proceeds to develop its preclinical pipeline and to fund working capital and for general corporate purposes, including capital improvements to properties it leases.

BofA Securities, Piper Jaffray and Guggenheim Securities are the joint book-running managers, and Canaccord Genuity is the lead manager for the offering.