1. MENLO PARK, Calif. and BOSTON, Sept. 14, 2021 /PRNewswire/ -- Lightstone Ventures today announced the closing of Lightstone Ventures III with $375 million in capital commitments, to invest in early-stage companies developing high impact therapeutics and technologies that have the potential to change patients' lives. The new fund was oversubscribed, exceeding the firm's targeted raise, and included strong support from both new and existing limited partners. With the closing of Fund III, Lightstone Ventures also announced the appointments of Christina Isacson, Ph.D., as Partner and Young Kwon, Ph.D., as Operating Partner.

    "We are very excited for the future of Lightstone and the important work that this new fund will enable," said Mike Carusi

    MENLO PARK, Calif. and BOSTON, Sept. 14, 2021 /PRNewswire/ -- Lightstone Ventures today announced the closing of Lightstone Ventures III with $375 million in capital commitments, to invest in early-stage companies developing high impact therapeutics and technologies that have the potential to change patients' lives. The new fund was oversubscribed, exceeding the firm's targeted raise, and included strong support from both new and existing limited partners. With the closing of Fund III, Lightstone Ventures also announced the appointments of Christina Isacson, Ph.D., as Partner and Young Kwon, Ph.D., as Operating Partner.

    "We are very excited for the future of Lightstone and the important work that this new fund will enable," said Mike Carusi, General Partner at Lightstone. "Our investment philosophy is guided by a commitment not just to exciting ideas but to the people leading them forward. This is an important moment for the firm that builds upon the successes we have had with our previous two funds and the companies we have invested in that are already making an impact on patients. We look forward to continuing our partnership with driven entrepreneurs developing therapies and technologies that have the potential to be industry-leading products."

    Since its inception in 2012, Lightstone has invested in more than 30 companies, all of which share a commitment to translating scientific breakthroughs into clinically and commercially meaningful therapies and technologies. In addition to venture capital experience, Lightstone's senior investment team brings significant operational leadership experience, enabling the firm to collaborate with founders to establish strategies that transform their visions into commercially viable products. Lightstone has a global presence, with offices in Menlo Park, Calif., Boston, Mass., Singapore, and Dublin, Ireland. The team includes:

    • Mike Carusi, General Partner
    • Jean George, General Partner
    • Jason Lettmann, General Partner
    • Hanson S. Gifford, III, Partner
    • Christina Isacson, Ph.D., Partner
    • Caroline Gaynor, Principal
    • Hank Plain, Special Partner
    • Mark Deem, Operating Partner
    • Young Kwon, Ph.D., Operating Partner
    • Stacy Enxing Seng, Operating Partner
    • Kenneth D. Noonan, Ph.D., CEO, Lightstone Singapore PTE. LTD.
    • Travis Boettner, CFO & CCO

    The Lightstone team has raised over $850 million since inception and has invested in companies such as Alchemab Therapeutics, ALX Oncology (NASDAQ:ALXO), Catamaran Bio, Cyteir Therapeutics (NASDAQ:CYT), Claret Medical (Acquired by Boston Scientific), Disarm Therapeutics (Acquired by Eli Lilly and Co.), Gemini Therapeutics (NASDAQ:GMTX), LocanaBio, Nimbus, Ra Pharma (Acquired by UCB), Tizona (Acquired by Gilead Sciences), and Willow.  

    "With Lightstone Ventures III, we look forward to empowering visionary entrepreneurs who are changing medicine, providing the same high-touch collaboration that founders have come to expect from our team along with increased financial resources," said Jason Lettmann, General Partner at Lightstone Ventures. "In addition, we are delighted to welcome Christina and Young to the team. One of Lightstone's key differentiators is our ability to leverage our team's leadership experience to provide hands-on guidance to the founders and teams we support. Both Christina and Young have held multiple C-suite level leadership roles, and they bring significant operational experience that will prove incredibly valuable to our portfolio companies."

    Dr. Isacson has spent over 16 years in the biotechnology industry and brings experience creating, launching, building and operating public and private biotech companies. Prior to joining Lightstone, she was a member of the founding team and Chief Business Officer at Magenta Therapeutics, and a part of the founding team at Decibel Therapeutics. She also has extensive experience in venture capital, most recently with Third Rock Ventures. Dr. Isacson holds a Ph.D. in Neuroscience from Tufts University School of Medicine, Graduate School of Biomedical Sciences, as well as a B.Sc. in Biology from McGill University.

    Dr. Kwon is a proven executive with significant operating and venture capital experience, and specializes in deal sourcing, due diligence, and portfolio company management. He has held a variety of leadership roles with over ten years as a C-suite executive at Momenta Pharmaceuticals, a public biotech company, prior to its sale to Johnson & Johnson for $6.5 billion. He holds a Ph.D. in Biological Chemistry and Molecular Pharmacology from Harvard University, as well as a B.S. in Biology from the Massachusetts Institute of Technology.

    About Lightstone Ventures

    Lightstone Ventures is a global venture capital firm investing in biotech and medtech companies pioneering big ideas poised to transform patient outcomes. We were founded in 2012 to empower visionary entrepreneurs with the resources and operational guidance necessary to bring their innovative therapeutics and technologies to the patients who need them most. Our investment team has led deals resulting in 19 acquisitions and 20 initial public offerings over the last two decades. The firm has offices in Boston, Mass., Menlo Park, Calif., Dublin, Ireland and Singapore.

    For more information, please visit www.lightstonevc.com

    Cision View original content:https://www.prnewswire.com/news-releases/lightstone-ventures-raises-375-million-fund-301375755.html

    SOURCE Lightstone Ventures

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  2. Cyteir Therapeutics, Inc. ("Cyteir") (NASDAQ:CYT), a company focused on the discovery and development of next-generation synthetically lethal therapies for cancer, announced that its President and Chief Executive Officer Markus Renschler, MD will participate in a fireside chat at the 19th Annual Morgan Stanley Global Healthcare Conference, being held virtually on September 10, 2021, at 11:45am ET.

    A live webcast of the fireside chat will be available in the Investors & Media section of the Cyteir website at www.cyteir.com. A webcast replay will also be available on the website shortly after conclusion of the event for 30 days.

    About Cyteir Therapeutics, Inc.

    Cyteir is a clinical-stage oncology company that is focused on the discovery and…

    Cyteir Therapeutics, Inc. ("Cyteir") (NASDAQ:CYT), a company focused on the discovery and development of next-generation synthetically lethal therapies for cancer, announced that its President and Chief Executive Officer Markus Renschler, MD will participate in a fireside chat at the 19th Annual Morgan Stanley Global Healthcare Conference, being held virtually on September 10, 2021, at 11:45am ET.

    A live webcast of the fireside chat will be available in the Investors & Media section of the Cyteir website at www.cyteir.com. A webcast replay will also be available on the website shortly after conclusion of the event for 30 days.

    About Cyteir Therapeutics, Inc.

    Cyteir is a clinical-stage oncology company that is focused on the discovery and development of next-generation synthetically lethal therapies to treat cancer. The company is using its expertise in DNA damage response biology to advance a pipeline of novel drug candidates that selectively target key cancer vulnerabilities. Cyteir's wholly owned lead compound, CYT-0851, is a potent and selective, oral investigational drug that was designed to inhibit RAD51-mediated homologous recombination and the repair of double-strand DNA breaks.

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  3. - IPO raised an aggregate of approximately $149.1 million in gross proceeds

    - Strong cash position of $198.6 million to be used to deliver expected key value-creating milestones and fund operations through 2023

    - Lead program, CYT-0851, advancing in Phase 1 dose escalation trial with Phase 2 expansion expected to begin by year-end

    Cyteir Therapeutics, Inc. ("Cyteir") (NASDAQ:CYT), a company focused on the discovery and development of next-generation synthetically lethal therapies for cancer, today reported financial results for the second quarter ended June 30, 2021 and provided an update on recent business highlights.

    "The successful completion of our IPO in June gives us the capital to advance our drug candidates through mid-stage clinical…

    - IPO raised an aggregate of approximately $149.1 million in gross proceeds

    - Strong cash position of $198.6 million to be used to deliver expected key value-creating milestones and fund operations through 2023

    - Lead program, CYT-0851, advancing in Phase 1 dose escalation trial with Phase 2 expansion expected to begin by year-end

    Cyteir Therapeutics, Inc. ("Cyteir") (NASDAQ:CYT), a company focused on the discovery and development of next-generation synthetically lethal therapies for cancer, today reported financial results for the second quarter ended June 30, 2021 and provided an update on recent business highlights.

    "The successful completion of our IPO in June gives us the capital to advance our drug candidates through mid-stage clinical development and places us in a strong position to advance our lead drug CYT-0851 and develop our DNA damage response (DDR) platform. We continue to enroll patients through the dose escalation portion of the Phase 1/2 trial for CYT-0851 and we plan to begin the Phase 2 expansion trial by year-end," said Markus Renschler, MD, President and Chief Executive Officer of Cyteir. "As we continue advancing our lead program and our DDR platform, we look forward to nominating new candidates in 2022 and beyond. I'd like to thank the entire Cyteir team for their dedication and excellent execution as we develop the next generation of synthetic lethal therapies to treat cancer."

    Second Quarter Business Review and Operational Updates

    CYT-0851

    • At the 2021 American Society of Clinical Oncology (ASCO) Annual Meeting, Ryan Lynch, MD of the Fred Hutchinson Cancer Center, presented an interim analysis of the Phase 1 portion of a first-in-human Phase 1/2 trial of CYT-0851. The presentation was given at an oral session at the conference.
    • The Phase 1 dose escalation trial portion of the Phase 1/2 trial continues to enroll patients. The 600 mg once daily cohort was recently cleared for safety and the 800 mg once daily cohort is now open for enrollment. Initiation of the Phase 2 expansion trial and Phase 1 combinations with chemotherapy are both expected by year-end.

    Pipeline

    • Investigational New Drug (IND)-enabling studies with CYT-1853 are ongoing and an IND application is expected to be submitted in 2022. Cyteir is also advancing preclinical studies on additional targets to nominate the next target from the DDR platform.

    Second Quarter Financial Results

    Cash and cash equivalents: Cash and cash equivalents for the quarter ended June 30, 2021, were $198.6 million. The cash and cash equivalents total for the second quarter does not include the $15.9 million in gross proceeds raised from the exercise by the underwriters of the option to purchase additional shares of common stock.

    Research and development (R&D) expenses: R&D expenses were $8.9 million for the second quarter of 2021 versus $3.6 million for the same period in 2020. The year-over-year increase in R&D spending in the comparative periods was due primarily to increased R&D and clinical activity and increased headcount.

    General and administrative (G&A) expenses: G&A expenses were $2.4 million for the second quarter of 2021 compared to $0.9 million for the same period in 2020. The year-over-year increase in G&A expenses was primarily due to increased headcount.

    Net loss: Net loss was $11.3 million, or $4.83 per share in the second quarter of 2021 compared to $4.5 million, or $3.18 per share in the second quarter of 2020.

    About Cyteir Therapeutics, Inc.

    Cyteir is a clinical-stage oncology company that is focused on the discovery and development of next-generation synthetically lethal therapies to treat cancer. The company is using its expertise in DNA damage response biology to advance a pipeline of novel drug candidates that selectively target key cancer vulnerabilities. Cyteir's wholly owned lead compound, CYT-0851, is a potent and selective, oral investigational drug that was designed to inhibit RAD51-mediated homologous recombination and the repair of double-strand DNA breaks.

    Forward-Looking Statements

    This press release contains "forward-looking statements" regarding Cyteir's results of operations and expected developments related to clinical trials. Forward-looking statements include statements identified by words such as "could," "may," "might," "will," "likely," "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects," "continues," "projects" and similar references to future periods. Forward-looking statements are based on our current expectations and assumptions regarding capital market conditions, our business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include: our limited operating history and that we have no products approved for commercial sale, which may make it difficult for you to evaluate our current business and predict our future success and viability; that we have incurred significant losses since inception and expect to incur losses for the foreseeable future and may never achieve or maintain profitability; our need substantial additional funding; that we have never successfully completed any clinical trials, and we may be unable to do so for any drug candidates we develop; that our clinical trials may fail to demonstrate adequately the safety and efficacy of any of our drug candidates, which would delay or prevent further clinical development of those candidates, or prevent marketing approval from FDA or similar regulatory authorities; our intention to develop CYT-0851, and potentially future drug candidates, for use in combination with other therapies, which exposes us to additional risks; if we are unable to successfully develop and commercialize companion diagnostic tests for our drug candidates, or experience significant delays in doing so, we may not realize the full commercial potential of our drug candidates; synthetic lethality represents an emerging class of precision medicine targets, and negative perceptions of the efficacy, safety or tolerability of this class of targets, including any that we develop, could adversely affect our ability to conduct our business, advance our drug candidates or obtain regulatory approvals; if we are unable to adequately protect and enforce our intellectual property or obtain and maintain patent protection for our technology and products or if the scope of the patent protection obtained is not sufficiently broad, our competitors or other third parties could develop and commercialize technology and products similar or identical to ours, and our ability to successfully develop and commercialize our technology and products may be impaired, the continuing outbreak of COVID-19 in the United States and other countries may adversely affect our business and the market price of our common stock; and other factors set forth under the heading "Risk Factors" in Cyteir's final prospectus dated June 17, 2021 related to our initial public offering, which is available on the U.S. Securities and Exchange Commission (SEC) website at www.sec.gov. Additional information will be made available by our quarterly reports on Form 10-Q and other filings that we make from time to time with the SEC. Any forward-looking statement made in this press release speaks only as of the date on which it is made. The company does not undertake any obligation to update any such statement or to publicly announce the results of any revisions to any such statements to reflect future events or developments, except as required by law.

    For further information, please reference the company's reports and documents filed with the SEC. You may get these documents by visiting EDGAR on the SEC website at www.sec.gov.

     
    CYTEIR THERAPEUTICS, INC
    CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
    (Unaudited, in thousands, except share and per share amounts)

    Three Months Ended

    June 30,

    Six Months Ended

    June 30,

     

    2021

     

     

    2020

     

     

    2021

     

     

    2020

     

    Operating expenses:
    Research and development

    $

    8,886

     

    $

    3,633

     

    $

    14,499

     

    $

    8,634

     

    General and administrative

     

    2,422

     

     

    875

     

     

    4,146

     

     

    1,884

     

    Total operating expenses

     

    11,308

     

     

    4,508

     

     

    18,645

     

     

    10,518

     

    Loss from operations

     

    (11,308

    )

     

    (4,508

    )

     

    (18,645

    )

     

    (10,518

    )

    Other income (expense):
    Other income (expense)

     

    13

     

     

    10

     

     

    38

     

     

    91

     

    Total other income (expense)

     

    13

     

     

    10

     

     

    38

     

     

    91

     

    Net loss

    $

    (11,295

    )

    $

    (4,498

    )

    $

    (18,607

    )

    $

    (10,427

    )

    Net loss per share—basic and diluted

    $

    (4.83

    )

    $

    (3.18

    )

    $

    (8.29

    )

    $

    (7.38

    )

    Weighted-average common stock outstanding—basic and

    diluted

     

    2,337,947

     

     

    1,414,009

     

     

    2,245,243

     

     

    1,413,554

     

     
    CYTEIR THERAPEUTICS, INC
    CONDENSED BALANCE SHEETS
    (Unaudited, in thousands, except share and per share amounts)

    June 30,

    2021

    December 31,

    2020

    Assets
    Current assets:
    Cash and cash equivalents

    $

    198,637

     

    $

    10,938

     

    Prepaid expenses and other current assets

     

    1,668

     

     

    1,193

     

    Total current assets

    $

    200,305

     

    $

    12,131

     

    Property and equipment, net

     

    1,492

     

     

    1,287

     

    Other assets

     

    256

     

     

    317

     

    Total assets

    $

    202,053

     

    $

    13,735

     

    Liabilities, redeemable convertible preferred stock and stockholders' equity (deficit)
    Current liabilities:
    Accounts payable

    $

    3,512

     

    $

    1,689

     

    Accrued expenses and other current liabilities

     

    3,932

     

     

    1,448

     

    Total current liabilities

    $

    7,444

     

    $

    3,137

     

    Deferred rent, net of current portion

     

    334

     

     

    452

     

    Other long term liabilities

     

    420

     

     

    766

     

    Total liabilities

    $

    8,198

     

    $

    4,355

     

    Commitments and contingencies (Note 11)
    Series A redeemable convertible preferred stock, 0 and 5,817,996 shares

    authorized, issued, and outstanding as of June 30, 2021

    and December 31, 2020, respectively

     

     

     

    5,696

     

    Series B redeemable convertible preferred stock, 0 and 71,199,999

    shares authorized as of June 30, 2021 and December 31, 2020, respectively;

    0 and 55,200,000 shares issued and outstanding as of June 30, 2021 and

    December 31, 2020, respectively

     

     

     

    51,715

     

    Series C redeemable convertible preferred stock, 0 shares

    authorized, issued, and outstanding as of June 30, 2021 and December 31,

    2020, respectively

     

     

     

     

    Stockholders' equity (deficit):
    Preferred stock, $0.001 par value: 40,000,000 and 77,017,995 shares

    authorized as of June 30, 2021 and December 31, 2020, respectively;

    no shares issued and outstanding as of June 30, 2021 and

    December 31, 2020

     

     

     

     

    Common stock, $0.001 par value: 320,000,000 and 100,000,000 shares

    authorized as of June 30, 2021 and December 31, 2020, respectively;

    34,474,323 and 2,719,721 shares issued as of June 30, 2021 and

    December 31, 2020, respectively; 34,104,882 and 2,044,284 shares

    outstanding as of June 30, 2021 and December 31, 2020, respectively

     

    34

     

     

    2

     

    Additional paid-in capital

     

    262,355

     

     

    1,894

     

    Accumulated deficit

     

    (68,534

    )

     

    (49,927

    )

    Total stockholders' equity (deficit)

     

    193,855

     

     

    (48,031

    )

    Total liabilities, redeemable convertible preferred stock and stockholders' equity (deficit)

    $

    202,053

     

    $

    13,735

     

     

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  4. Cyteir Therapeutics, Inc. ("Cyteir") (NASDAQ:CYT), a company focused on the discovery and development of next-generation synthetically lethal therapies for cancer, announced that its President and Chief Executive Officer Markus Renschler, MD will participate in the 2021 Wedbush PacGrow Healthcare Conference, being held virtually on August 10, 2021.

    12th Annual Wedbush PacGrow Healthcare Virtual Conference

    Date: Tuesday, August 10

    Time: 11:30 AM EDT

    Panel: Synthetic Lethal (Weapon)

    A live webcast of the Wedbush panel discussion will be available in the Investors & Media section of the Cyteir website at www.cyteir.com. A webcast replay will also be available on the website shortly after conclusion of the event for 30 days.

    About Cyteir

    Cyteir Therapeutics, Inc. ("Cyteir") (NASDAQ:CYT), a company focused on the discovery and development of next-generation synthetically lethal therapies for cancer, announced that its President and Chief Executive Officer Markus Renschler, MD will participate in the 2021 Wedbush PacGrow Healthcare Conference, being held virtually on August 10, 2021.

    12th Annual Wedbush PacGrow Healthcare Virtual Conference

    Date: Tuesday, August 10

    Time: 11:30 AM EDT

    Panel: Synthetic Lethal (Weapon)

    A live webcast of the Wedbush panel discussion will be available in the Investors & Media section of the Cyteir website at www.cyteir.com. A webcast replay will also be available on the website shortly after conclusion of the event for 30 days.

    About Cyteir Therapeutics, Inc.

    Cyteir is a clinical-stage oncology company that is focused on the discovery and development of next-generation synthetically lethal therapies to treat cancer. The company is using its expertise in DNA damage response biology to advance a pipeline of novel drug candidates that selectively target key cancer vulnerabilities. Cyteir's wholly owned lead compound, CYT-0851, is a potent and selective, oral investigational drug that was designed to inhibit RAD51-mediated homologous recombination and the repair of double-strand DNA breaks.

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  5. Cyteir Therapeutics, Inc. ("Cyteir") (NASDAQ:CYT), a company focused on the discovery and development of next-generation synthetically lethal therapies for cancer, today announced the closing of its initial public offering of 7,400,000 shares of its common stock at an initial public offering price of $18.00 per share. All of the shares are being offered by Cyteir. In addition, Cyteir has granted the underwriters a 30-day option to purchase up to an additional 1,110,000 shares of common stock at the initial public offering price, less the underwriting discounts and commissions. Cyteir's common stock is listed on The Nasdaq Global Select Market under the ticker symbol "CYT."

    The gross proceeds to Cyteir from the offering were $133.2 million…

    Cyteir Therapeutics, Inc. ("Cyteir") (NASDAQ:CYT), a company focused on the discovery and development of next-generation synthetically lethal therapies for cancer, today announced the closing of its initial public offering of 7,400,000 shares of its common stock at an initial public offering price of $18.00 per share. All of the shares are being offered by Cyteir. In addition, Cyteir has granted the underwriters a 30-day option to purchase up to an additional 1,110,000 shares of common stock at the initial public offering price, less the underwriting discounts and commissions. Cyteir's common stock is listed on The Nasdaq Global Select Market under the ticker symbol "CYT."

    The gross proceeds to Cyteir from the offering were $133.2 million, before deducting underwriting discounts and commissions and other estimated offering expenses.

    J.P. Morgan, Morgan Stanley and BofA Securities acted as joint book-running managers for the offering and Wedbush PacGrow acted as co-manager.

    A registration statement relating to the shares sold in this offering was declared effective by the Securities and Exchange Commission on June 17, 2021. The offering was made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of the final prospectus may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204, or by email at prospectuseq_fi@jpmchase.com; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by telephone: 1-866-718-1649; or BofA Securities, Inc., NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department or by email at: dg.prospectus_requests@bofa.com.

    This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities 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 Cyteir Therapeutics, Inc.

    Cyteir is a clinical-stage oncology company that is focused on the discovery and development of next-generation synthetically lethal therapies to treat cancer. The company is using its expertise in DNA damage response biology to advance a pipeline of novel drug candidates that selectively target key cancer vulnerabilities. Cyteir's wholly owned lead compound, CYT-0851, is a potent and selective, oral investigational drug that was designed to inhibit RAD51-mediated homologous recombination and the repair of double-strand DNA breaks.

    Forward-Looking Statements

    This press release contains "forward-looking statements" regarding Cyteir's plans for its proposed initial public offering. Forward-looking statements include statements regarding the proposed public offering and other statements identified by words such as "could," "may," "might," "will," "likely," "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects," "continues," "projects" and similar references to future periods. Forward-looking statements are based on our current expectations and assumptions regarding capital market conditions, our business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include regional, national or global political, economic, business, competitive, market and regulatory conditions, and other factors set forth under the heading "Risk Factors" in Cyteir's registration statement on Form S-1. Any forward-looking statement made in this press release speaks only as of the date on which it is made. The company does not undertake, and specifically declines, any obligation to update any such statements or to publicly announce the results of any revisions to any such statements to reflect future events or developments, except as required by law.

    For further information, please reference the company's reports and documents filed with the U.S. Securities and Exchange Commission (SEC). You may get these documents by visiting EDGAR on the SEC website at www.sec.gov.

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  6. Cyteir Therapeutics, Inc. ("Cyteir") (NASDAQ:CYT), a company focused on the discovery and development of next-generation synthetically lethal therapies for cancer, today announced the pricing of its initial public offering of 7,400,000 shares of its common stock at an initial public offering price of $18.00 per share. All of the shares are being offered by Cyteir. In addition, Cyteir has granted the underwriters a 30-day option to purchase up to an additional 1,110,000 shares of common stock at the initial public offering price, less the underwriting discounts and commissions. The shares are scheduled to begin trading on The Nasdaq Global Select Market on June 18, 2021 under the ticker symbol "CYT."

    The gross proceeds of the offering, before…

    Cyteir Therapeutics, Inc. ("Cyteir") (NASDAQ:CYT), a company focused on the discovery and development of next-generation synthetically lethal therapies for cancer, today announced the pricing of its initial public offering of 7,400,000 shares of its common stock at an initial public offering price of $18.00 per share. All of the shares are being offered by Cyteir. In addition, Cyteir has granted the underwriters a 30-day option to purchase up to an additional 1,110,000 shares of common stock at the initial public offering price, less the underwriting discounts and commissions. The shares are scheduled to begin trading on The Nasdaq Global Select Market on June 18, 2021 under the ticker symbol "CYT."

    The gross proceeds of the offering, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Cyteir, are expected to be approximately $133 million excluding any exercise of the underwriters' option to purchase additional shares. The offering is expected to close on June 22, 2021, subject to the satisfaction of customary closing conditions.

    J.P. Morgan, Morgan Stanley and BofA Securities are acting as joint book-running managers for the offering and Wedbush PacGrow is acting as co-manager.

    A registration statement relating to the shares being sold in this offering was declared effective by the Securities and Exchange Commission on June 17, 2021. The offering is being made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained, when available, for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of the final prospectus, when available, may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204, or by email at prospectuseq_fi@jpmchase.com; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by telephone: 1-866-718-1649; or BofA Securities, Inc., NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department or by email at: dg.prospectus_requests@bofa.com.

    This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities 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 Cyteir Therapeutics, Inc.

    Cyteir is a clinical-stage oncology company that is focused on the discovery and development of next-generation synthetically lethal therapies to treat cancer. The company is using its expertise in DNA damage response biology to advance a pipeline of novel drug candidates that selectively target key cancer vulnerabilities. Cyteir's wholly owned lead compound, CYT-0851, is a potent and selective, oral investigational drug that was designed to inhibit RAD51-mediated homologous recombination and the repair of double-strand DNA breaks.

    Forward-Looking Statements

    This press release contains "forward-looking statements" regarding Cyteir's plans for its proposed initial public offering. Forward-looking statements include statements regarding the proposed public offering and other statements identified by words such as "could," "may," "might," "will," "likely," "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects," "continues," "projects" and similar references to future periods. Forward-looking statements are based on our current expectations and assumptions regarding capital market conditions, our business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include regional, national or global political, economic, business, competitive, market and regulatory conditions, including risk regarding when Cyteir can complete the offering and other factors set forth under the heading "Risk Factors" in Cyteir's registration statement on Form S-1. Any forward-looking statement made in this press release speaks only as of the date on which it is made. The company does not undertake, and specifically declines, any obligation to update any such statements or to publicly announce the results of any revisions to any such statements to reflect future events or developments, except as required by law.

    For further information, please reference the company's reports and documents filed with the U.S. Securities and Exchange Commission (SEC). You may get these documents by visiting EDGAR on the SEC website at www.sec.gov.

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