1. Graphite Bio, Inc. (NASDAQ:GRPH), a clinical-stage, next-generation gene editing company focused on therapies that harness targeted gene integration to treat or cure serious diseases, today announced that members of the management team will participate in virtual fireside chats at the following investor conferences:

    • Morgan Stanley 19th Annual Global Healthcare Conference on Monday, Sept. 13, 2021, at 2:45 p.m. ET; and
    • 2021 Cantor Virtual Global Healthcare Conference on Monday, Sept. 27, 2021, at 2:40 p.m. ET.

    The fireside chats will be webcast live from Graphite Bio's website at www.graphitebio.com in the Investors section. Replays of the webcasts will be archived and available for one month following each event.

    About Graphite Bio

    Graphite…

    Graphite Bio, Inc. (NASDAQ:GRPH), a clinical-stage, next-generation gene editing company focused on therapies that harness targeted gene integration to treat or cure serious diseases, today announced that members of the management team will participate in virtual fireside chats at the following investor conferences:

    • Morgan Stanley 19th Annual Global Healthcare Conference on Monday, Sept. 13, 2021, at 2:45 p.m. ET; and
    • 2021 Cantor Virtual Global Healthcare Conference on Monday, Sept. 27, 2021, at 2:40 p.m. ET.

    The fireside chats will be webcast live from Graphite Bio's website at www.graphitebio.com in the Investors section. Replays of the webcasts will be archived and available for one month following each event.

    About Graphite Bio

    Graphite Bio is a clinical-stage, next-generation gene editing company harnessing high efficiency targeted gene integration to develop a new class of therapies to potentially cure a wide range of serious and life-threatening diseases. Graphite Bio is pioneering a precision gene editing approach that could enable a variety of applications to transform human health through its potential to achieve one of medicine's most elusive goals: to precisely "find & replace" any gene in the genome. Graphite Bio's platform allows it to precisely correct mutations, replace entire disease-causing genes with normal genes or insert new genes into predetermined, safe locations. The company was co-founded by academic pioneers in the fields of gene editing and gene therapy, including Maria Grazia Roncarolo, M.D., and Matthew Porteus, M.D., Ph.D.

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  2. On track to enroll first patient in Phase 1/2 clinical trial of GPH101 for sickle cell disease in the second half of 2021

    Expanded leadership team with hiring of CSO and three new appointments to board of directors

    Completed upsized initial public offering of common stock, raising $273.7 million in gross proceeds

    Graphite Bio, Inc. (NASDAQ:GRPH), a clinical-stage, next-generation gene editing company harnessing high-efficiency precision gene correction to treat or cure serious diseases, today reported recent business progress and second quarter 2021 financial results.

    "This has been a transformational period for Graphite Bio as we advance our next-generation gene editing platform to precisely find and replace any gene in the genome. We…

    On track to enroll first patient in Phase 1/2 clinical trial of GPH101 for sickle cell disease in the second half of 2021

    Expanded leadership team with hiring of CSO and three new appointments to board of directors

    Completed upsized initial public offering of common stock, raising $273.7 million in gross proceeds

    Graphite Bio, Inc. (NASDAQ:GRPH), a clinical-stage, next-generation gene editing company harnessing high-efficiency precision gene correction to treat or cure serious diseases, today reported recent business progress and second quarter 2021 financial results.

    "This has been a transformational period for Graphite Bio as we advance our next-generation gene editing platform to precisely find and replace any gene in the genome. We have built an outstanding team of experienced industry leaders and, with our recent initial public offering, are well-resourced to advance our pipeline into clinical development, led by GPH101, a highly differentiated gene correction approach for sickle cell disease," said Josh Lehrer, M.Phil., M.D., chief executive officer of Graphite Bio. "We are focused on executing on our mission to develop potential one-time cures for patients who have a wide range of serious and life-threatening diseases, starting with sickle cell. We remain on track to enroll the first patient in our Phase 1/2 clinical trial of GPH101 in the second half of 2021, with initial proof-of-concept data expected by the end of 2022."

    Recent Highlights

    • Completed an upsized initial public offering (IPO) of 16,100,000 shares of common stock, including full exercise of the underwriters' option to purchase additional shares, resulting in aggregate gross proceeds of $273.7 million, before deducting underwriting discounts and commissions and other offering expenses.
    • Expanded the company's executive team with the hiring of Jane Grogan, Ph.D., a renowned scientific leader and drug developer in the fields of immunology, oncology and cell therapy, as chief scientific officer. Dr. Grogan leads the company's research and early development efforts, including the company's strategy to combine its gene editing technology with novel non-genotoxic hematopoietic stem cell-targeted conditioning regimens.
    • Appointed to the company's board of directors Dr. Kristen Hege, Smital Shah and Dr. Jo Viney, all experienced biopharma executives with decades of scientific and business leadership expertise.
    • Exclusively licensed patent rights to high fidelity Cas9, an engineered version of Cas9 with significantly reduced off-target activity, including a 30-fold reduction in off-target cleavage for the GPH101 program.

    Second Quarter Financial Highlights

    • Cash, Cash Equivalents and Restricted Cash: As of June 30, 2021, cash, cash equivalents and restricted cash totaled $382.1 million, which includes approximately $219.5 million in net proceeds from the company's June 2021 upsized IPO. An additional amount of approximately $31.9 million in net proceeds from the full exercise of the underwriters' option to purchase additional shares, which closed on July 2, will be reflected in the company's third quarter financial results.
    • R&D Expenses: Research and development expenses were $12.7 million for the second quarter of 2021, which includes $0.6 million in stock-based compensation expense.
    • G&A Expenses: General and administrative expenses were $4.9 million for the second quarter of 2021, which includes $1.4 million in stock-based compensation expense.
    • Net Loss: Net loss was $17.5 million, or $3.45 per basic and diluted share, for the quarter ended June 30, 2021.

    About Graphite Bio

    Graphite Bio is a clinical-stage, next-generation gene editing company harnessing high efficiency precision gene correction to develop a new class of therapies to potentially cure a wide range of serious and life-threatening diseases. Graphite Bio is pioneering a precision gene editing platform that could enable a variety of applications to transform human health and achieve one of medicine's most elusive goals: to precisely "find & replace" any gene in the genome. Graphite Bio's platform allows it to precisely correct mutations, replace entire disease-causing genes with normal genes, or insert new genes into predetermined, safe locations. The company was co-founded by academic pioneers in the fields of gene editing and gene therapy, including Maria Grazia Roncarolo, M.D., and Matthew Porteus, M.D., Ph.D.

    Forward-Looking Statements

    Statements we make in this press release may include statements which are not historical facts and are considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These statements may be identified by words such as "aims," "anticipates," "believes," "could," "estimates," "expects," "forecasts," "goal," "intends," "may," "plans," "possible," "potential," "seeks," "will," and variations of these words or similar expressions that are intended to identify forward-looking statements. Any such statements in this press release that are not statements of historical fact, including statements regarding the clinical and therapeutic potential of our gene editing platform and our product candidates, and the timing for enrollment of the first patient in our Phase 1/2 clinical trial of GPH101 and the availability of initial proof-of-concept data, may be deemed to be forward-looking statements. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Exchange Act and are making this statement for purposes of complying with those safe harbor provisions.

    Any forward-looking statements in this press release are based on Graphite Bio's current expectations, estimates and projections only as of the date of this release and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements, including the risk that we may encounter delays in patient enrollment and in the initiation, conduct and completion of our planned clinical trials. These risks concerning Graphite Bio's programs and operations are described in additional detail in its final prospectus for the initial public offering, which was filed with the SEC on June 28, 2021. Graphite Bio explicitly disclaims any obligation to update any forward-looking statements except to the extent required by law.

     

    GRAPHITE BIO, INC.

    Condensed Statements of Operations

    (Unaudited)

    (In thousands, except share and per share data)

     

     

     

    Three Months Ended

     

     

     

    Six Months Ended

     

     

     

    June 30,

     

     

     

    June 30,

     

     

    2021

     

     

    2020

     

     

    2021

     

     

    2020

     

    Operating expenses*:

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Research and development

    $

     

    12,667

     

     

    $

     

    423

     

     

    $

     

    18,044

     

     

    $

     

    423

     

    General and administrative

     

     

    4,866

     

     

     

     

    869

     

     

     

     

    8,857

     

     

     

     

    990

     

    Total operating expenses

     

     

    17,533

     

     

     

     

    1,292

     

     

     

     

    26,901

     

     

     

     

    1,413

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Loss from operations

     

     

    (17,533

    )

     

     

     

    (1,292

    )

     

     

     

    (26,901

    )

     

     

     

    (1,413

    )

    Other income (expense), net:

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Other income (expense), net:

     

     

    4

     

     

     

     

    -

     

     

     

     

    4

     

     

     

     

    -

     

    Related party convertible note interest expense

     

     

    -

     

     

     

     

    (20

    )

     

     

     

    -

     

     

     

     

    (40

    )

    Change in fair value of the Series A redeemable convertible preferred stock tranche liability

     

     

    -

     

     

     

     

    -

     

     

     

     

    (10,341

    )

     

     

     

    -

     

    Total other income (expense), net

     

     

    4

     

     

     

     

    (20

    )

     

     

     

    (10,337

    )

     

     

     

    (40

    )

    Net loss and comprehensive loss

    $

     

    (17,529

    )

     

    $

     

    (1,312

    )

     

    $

     

    (37,238

    )

     

    $

     

    (1,453

    )

    Net loss per share attributable to common stockholders - basic and diluted

    $

     

    (3.45

    )

     

    $

     

    (0.56

    )

     

    $

     

    (8.45

    )

     

    $

     

    (1.25

    )

    Weighted-average shares used in computing net loss per share attributable to common stockholders - basic and diluted

     

     

    5,087,008

     

     

     

     

    2,329,402

     

     

     

     

    4,405,357

     

     

     

     

    1,164,700

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    * Includes stock-based compensation as follows

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Research and development

    $

     

    614

     

     

    $

     

    -

     

     

    $

     

    811

     

     

    $

     

    -

     

    General and administrative

     

     

    1,404

     

     

     

     

    1

     

     

     

     

    2,240

     

     

     

     

    1

     

    Total stock-based compensation expense

    $

     

    2,018

     

     

    $

     

    1

     

     

    $

     

    3,051

     

     

    $

     

    1

     

     

    GRAPHITE BIO, INC.

    Condensed Balance Sheets

    (Unaudited)

    (In thousands)

     

     

     

    June 30,

     

     

    December 31,

     

     

     

    2021

     

     

    2020

     

    Assets

     

     

     

     

     

     

     

     

     

     

    Current assets:

     

     

     

     

     

     

     

     

     

     

    Cash and cash equivalents

     

    $

     

    381,965

     

     

    $

     

    19,782

     

    Restricted cash

     

     

     

    149

     

     

     

     

    35

     

    Prepaid expenses and other current assets

     

     

     

    2,638

     

     

     

     

    1,286

     

    Total current assets

     

     

     

    384,752

     

     

     

     

    21,103

     

    Property plant and equipment, net

     

     

     

    2,343

     

     

     

     

    1,461

     

    Other assets

     

     

     

    11

     

     

     

     

    -

     

    Total assets

     

    $

     

    387,106

     

     

    $

     

    22,564

     

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

     

     

     

     

     

     

     

     

     

     

    Current liabilities:

     

     

     

     

     

     

     

     

     

     

    Accounts payable

     

    $

     

    4,046

     

     

    $

     

    630

     

    Accrued compensation

     

     

     

    723

     

     

     

     

    466

     

    Accrued expenses and other current liabilities

     

     

     

    3,089

     

     

     

     

    1,890

     

    Series A redeemable convertible preferred stock tranche liability

     

     

     

    -

     

     

     

     

    29,062

     

    Total current liabilities

     

     

     

    7,858

     

     

     

     

    32,048

     

    Other liabilities

     

     

     

    64

     

     

     

     

    316

     

    Total liabilities

     

     

     

    7,922

     

     

     

     

    32,364

     

    Series A redeemable convertible preferred stock

     

     

     

    -

     

     

     

     

    55,608

     

    Stockholders' equity (deficit):

     

     

     

     

     

     

     

     

     

     

    Common stock

     

     

     

    1

     

     

     

     

    -

     

    Additional paid-in capital

     

     

     

    487,012

     

     

     

     

    5,183

     

    Accumulated deficit

     

     

     

    (107,829

    )

     

     

     

    (70,591

    )

    Total stockholders' equity (deficit)

     

     

     

    379,184

     

     

     

     

    (65,408

    )

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

     

    $

     

    387,106

     

     

    $

     

    22,564

     

     

     

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  3. Graphite Bio, Inc. (NASDAQ:GRPH), a clinical-stage, next-generation gene editing company focused on therapies that harness targeted gene integration to treat or cure serious diseases, today announced the closing of its previously announced initial public offering of 14,000,000 shares of its common stock at a price to the public of $17.00 per share on June 29, 2021. In addition, on June 29, 2021, the underwriters exercised in full their option to purchase 2,100,000 additional shares of common stock at the initial public offering price, less underwriting discounts and commissions. The closing of the offering of the additional shares is expected to occur on July 2, 2021.

    The aggregate gross proceeds to Graphite Bio from the offering, including…

    Graphite Bio, Inc. (NASDAQ:GRPH), a clinical-stage, next-generation gene editing company focused on therapies that harness targeted gene integration to treat or cure serious diseases, today announced the closing of its previously announced initial public offering of 14,000,000 shares of its common stock at a price to the public of $17.00 per share on June 29, 2021. In addition, on June 29, 2021, the underwriters exercised in full their option to purchase 2,100,000 additional shares of common stock at the initial public offering price, less underwriting discounts and commissions. The closing of the offering of the additional shares is expected to occur on July 2, 2021.

    The aggregate gross proceeds to Graphite Bio from the offering, including the option exercise, will be $273.7 million, before deducting the underwriting discounts and commissions and other offering expenses payable by Graphite Bio. Graphite Bio's common stock is listed on the Nasdaq Global Market under the ticker symbol "GRPH."

    Morgan Stanley, BofA Securities, Cowen and SVB Leerink are acting as joint book-running managers for the offering.

    Registration statements relating to these securities were filed with the U.S. Securities and Exchange Commission (SEC) and became effective on June 24, 2021. Copies of the registration statements can be accessed through the SEC's website at www.sec.gov. The offering is being made only by means of a written prospectus, forming a part of the effective registration statements. A copy of the final prospectus relating to the initial public offering may be obtained from: Morgan Stanley, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by email at prospectus@morganstanley.com; BofA Securities, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, or by email at dg.prospectus_requests@bofa.com; Cowen and Company, LLC, c/o Broadridge Financial Solutions, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY, 11717, by telephone at (833) 297-2926, or by email at PostSaleManualRequests@broadridge.com; or SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at (800) 808-7525, ext. 6105, or by email at syndicate@svbleerink.com.

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction where such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

    About Graphite Bio

    Graphite Bio is a clinical-stage, next-generation gene editing company harnessing high efficiency targeted gene integration to develop a new class of therapies to potentially cure a wide range of serious and life-threatening diseases. Graphite Bio is pioneering a precision gene editing approach that could enable a variety of applications to transform human health through its potential to achieve one of medicine's most elusive goals: to precisely "find & replace" any gene in the genome. Graphite Bio's platform allows it to precisely correct mutations, replace entire disease-causing genes with normal genes or insert new genes into predetermined, safe locations. The company was co-founded by academic pioneers in the fields of gene editing and gene therapy, including Maria Grazia Roncarolo, M.D., and Matthew Porteus, M.D., Ph.D.

    Forward-Looking Statements

    This press release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as "aims," "anticipates," "believes," "could," "estimates," "expects," "forecasts," "goal," "intends," "may," "plans," "possible," "potential," "seeks," "will," and variations of these words or similar expressions that are intended to identify forward-looking statements. Any such statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements.

    Any forward-looking statements in this press release are based on Graphite Bio's current expectations, estimates and projections only as of the date of this release and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements, including the completion and timing of the closing of the offering of the additional shares and the anticipated gross proceeds. These risks concerning Graphite Bio's programs and operations are described in additional detail in its final prospectus for the initial public offering, which is on file with the SEC. Graphite Bio explicitly disclaims any obligation to update any forward-looking statements except to the extent required by law.

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