CAMBRIDGE, Mass., Feb. 11, 2021 (GLOBE NEWSWIRE) -- Oncorus, Inc. (Nasdaq: ONCR), a clinical stage biopharmaceutical company developing next-generation, systemically active viral immunotherapies to transform outcomes for cancer patients, today announced the pricing of its underwritten public offering of 3,000,000 shares of its common stock at a price to the public of $19.00 per share. All shares of common stock in the offering are being offered by Oncorus. The gross proceeds to Oncorus from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be $57.0 million. In addition, Oncorus has granted the underwriters a 30-day option to purchase up to an additional 450,000 shares of common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on February 17, 2021, subject to satisfaction of customary closing conditions.
Jefferies, Evercore ISI and Piper Sandler are acting as joint book-running managers for the offering.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission (SEC) and was declared effective on February 11, 2021. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any offer or 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 such state or jurisdiction.
About Oncorus
At Oncorus, we are focused on driving innovation to deliver next-generation, systemically active viral immunotherapies to transform outcomes for cancer patients. We are advancing a portfolio of intratumorally and intravenously administered viral immunotherapies for multiple indications with significant unmet needs based on our oncolytic Herpes Simplex Virus (oHSV) Platform and Synthetic Virus Platform. Designed to deliver next-generation viral immunotherapy impact, our oHSV Platform improves upon key characteristics of this therapeutic class to enhance potency without sacrificing safety, including greater capacity to encode transgenes to drive systemic immunostimulatory activity, retention of full replication competency to enable high tumor-killing potency, and orthogonal safety strategies to restrict viral activity in tumor cells. Oncorus’ lead oHSV program, ONCR-177, is designed to be directly administered into a tumor, resulting in high local concentrations of the therapeutic agent, as well as low systemic exposure to the therapy, which we believe could potentially limit systemic toxicities.
