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Unregistered Sales of Equity Securities
+Added: On May 9, 2023, we completed the Private Placement, in which we sold an aggregate of 625,000 shares of common stock to Abingworth, a holder of more than 5% of our common stock, at a price of $8.00 per share.
+Added: Total net proceeds from the Private Placement, after deducting advisor fees and other estimated fees and expenses, were approximately $4.7 million.
+Added: The Private Placement was made in reliance upon the exemption from the registration requirements of the Securities Act provided by Section 4(a)(2) thereof.
Use of Proceeds
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acted as joint book-running managers.
−Removed: As of March 31, 2023, we have not used any of the proceeds from our IPO.
−Removed: We invested the funds received in highly liquid money market funds and short-term investments.
−Removed: The net proceeds from the IPO will be used, together with our cash, cash equivalents, and short-term investments to fund continued research and development of mavodelpar in patients with PMM and LC-FAOD, other clinical trials and preclinical studies, and commercial readiness preparations, and to provide funds for working capital and other general purposes.
+Added: As of June 30, 2023, we have used approximately $6.7 million of the net proceeds from our IPO.
+Added: We have invested the remaining net proceeds in highly liquid money market funds and short-term investments.
+Added: The remaining net proceeds from the IPO will be used, together with our cash, cash equivalents, and short-term investments, to fund continued research and development of mavodelpar in patients with PMM and LC-FAOD, other clinical trials and preclinical studies, and commercial readiness preparations, and to provide funds for working capital and other general purposes.
None of the offering proceeds were paid directly or indirectly to any of our directors or officers (or their associates) or persons owning 10.0% or more of any class of our equity securities or to any other affiliates.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.