On February 4, 2025 Nuvectis Pharma, Inc. (Nasdaq: NVCT), a clinical-stage biopharmaceutical company focused on the development of innovative precision medicines for the treatment of serious conditions of unmet medical need in oncology, reported that it has commenced an underwritten public offering of its common stock (Press release, Nuvectis Pharma, FEB 4, 2025, View Source [SID1234650086]). All of the shares to be sold in the offering will be offered by Nuvectis. In addition, Nuvectis intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of its common stock offered in the public offering. The 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 as to the actual size or terms of the offering.
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Lucid Capital Markets is acting as sole book runner for the offering.
Nuvectis intends to use the net proceeds from this offering to continue to advance the development programs of NXP800 and NXP900 or any future product candidate, hiring of additional personnel, capital expenditures, costs of operating as a public company and other general corporate purposes.
The securities described above are being offered by Nuvectis pursuant to its shelf registration statement on Form S-3 (File No. 333-270657) with the U.S. Securities and Exchange Commission ("SEC") on March 17, 2023 and declared effective by the SEC on March 29, 2023. A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at View Source Copies of the final prospectus supplement and the accompanying prospectus relating to these securities may also be obtained, when available, by contacting Lucid Capital Markets, LLC, 570 Lexington Avenue, 40th floor, New York, NY 10022.
The offering of these securities is being made under an effective shelf registration statement on file with the SEC. 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.