NGM NGM Biopharmaceuticals Inc.
Upcoming Catalysts
| Drug | Stage | Catalyst Date |
|---|---|---|
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Aldafermin (NGM282) - ALPINE 2/3
Non-alcoholic steatohepatitis (NASH)
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Phase 2b
Phase 2b
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NGM120
Cachexia syndrome
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Phase 1b
Phase 1b
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Drug Pipeline
| Drug | Stage | Notes |
|---|---|---|
|
NGM120
Pancreatic Cancer
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Phase 1b
Phase 1b
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Phase 1b expansion trial initiation of enrolment announced March 2, 2021.
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NGM621 (CATALINA)
Geographic atrophy
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Phase 2
Phase 2
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Phase 2 initiation announced July 27, 2020.
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NGM438
Oncology
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Phase 1
Phase 1
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Phase 1 trial to be initiated 4Q 2021.
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NGM707
Oncology
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Phase 1
Phase 1
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Phase 1 trial to be initiated mid-2021.
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Aldafermin (ALPINE 4)
NASH cirrhosis
|
Phase 2b
Phase 2b
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Phase 2b trial ongoing.
|
Latest News
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--Placebo-controlled study to evaluate potential of NGM120, a novel inhibitor of GDF15/GFRAL pathway, to treat cancer and cancer-related cachexia--
--Cachexia, a wasting syndrome, is a common co-morbidity of cancer and associated with shortened survival--
--Expansion follows completion of enrollment in open-label dose-escalation safety portion of Phase 1a/1b study in patients with select advanced solid tumors and metastatic pancreatic cancer--
--NGM120 program builds on discoveries by NGM scientists related to GDF15 pathway biology, including identifying its cognate receptor, GFRAL--
SOUTH SAN FRANCISCO, Calif., March 02, 2021 (GLOBE NEWSWIRE) -- NGM Biopharmaceuticals, Inc. (NASDAQ:NGM), a biotechnology company focused on discovering and developing transformative therapeutics for patients, today announced it has dosed the first patient in an expansion of its ongoing Phase 1b proof-of-concept study of NGM120 in patients with metastatic pancreatic cancer. NGM120 is an antagonistic antibody that binds glial cell-derived neurotrophic factor receptor alpha-like (GFRAL) and inhibits growth differentiation factor 15 (GDF15) signaling. This placebo-controlled study will evaluate the effect of NGM120 on both cancer and cancer-related cachexia. Cachexia is the uncontrolled wasting of both skeletal muscle and fat linked to many cancers. It is estimated to affect 60% to 80% of advanced cancer patients and to be responsible for approximately 30% of all cancer deaths1. This proof-of-concept expansion represents a pre-planned progression of an ongoing Phase 1a/1b dose-finding clinical trial NGM is conducting in patients with select advanced solid tumors and metastatic pancreatic cancer.
NGM is a leader in research elucidating the central role of the GDF15/GFRAL pathway in promoting tumor-associated appetite regulation, metabolic regulation and immune modulation. Through systematic screening of human secreted factors in preclinical models, NGM identified that GDF15 expression has the ability to promote an outsized effect in weight loss. Evidence has also shown that serum levels of GDF15 are elevated in patients with a number of tumor types, including non-small cell lung cancer, melanoma, pancreatic, prostate, colorectal, gastric, esophageal and ovarian cancer, and are associated with a worse prognosis in multiple cancers.
As published in Nature, NGM was the first to identify GDF15's cognate receptor, GFRAL, and the associated signaling pathway2. This discovery enabled the development of NGM120, a proprietary inhibitory antibody binding to GFRAL that is designed to block the effects of elevated GDF15 levels. In preclinical studies, NGM has demonstrated that blocking the interaction between GDF15 and GFRAL both reduces tumor-associated weight loss and slows tumor growth. In a murine pancreatic tumor model, treatment with NGM120s, an anti-GFRAL antibody similar to NGM120, resulted in greater tumor shrinkage as well as improved survival versus the control arm. In a murine cancer cachexia model, NGM120s rapidly reversed tumor-induced weight loss. In addition, in a murine model of chemotherapy-induced weight loss, administration of NGM120s preserved lean mass and muscle function in animals treated with cisplatin, while treatment with cisplatin alone resulted in greater than 20% weight loss.
"We are pleased to advance NGM120 into a placebo-controlled, Phase 1b expansion in patients with metastatic pancreatic cancer. Patients with this aggressive disease are in particularly dire need of therapeutic solutions to fight their disease and enhance their quality of life," said Alex DePaoli, M.D., Senior Vice President, Chief Translational Officer at NGM. "Our approach of targeting the GDF15 receptor, GFRAL, gives NGM120 a novel profile in the GDF15 inhibition space and enables us to evaluate NGM120 as a potential treatment for both cancer-related cachexia and the underlying cancer."
About the Design of the NGM120 Phase 1b Expansion
In February 2020, NGM initiated a Phase 1a/1b multi-site, open-label, dose-escalation clinical study to evaluate the safety, tolerability and pharmacokinetics of NGM120 as a monotherapy in patients with select advanced solid tumors (Cohort 1) and in combination with gemcitabine and Abraxane® (paclitaxel protein bound) in patients with metastatic pancreatic cancer (Cohort 2). Entry criteria included elevated serum levels of GDF15. Cohorts 1 and 2 are fully enrolled.
The Phase 1b expansion portion of the study will evaluate the safety, tolerability and efficacy of NGM120 as a first-line treatment in 60 patients with metastatic pancreatic cancer. Entry criteria includes elevated serum GDF15 levels. The study is a randomized, single-blind (sponsor unblinded), placebo-controlled, multi-center trial. Patients will be randomized 1:1 to receive either NGM120 or placebo monthly in combination with the first-line standard of care, gemcitabine and Abraxane. The study will have both cancer and cachexia endpoints, including overall response rate (ORR), progression-free survival (PFS), overall survival (OS), body weight change, lean body mass change, patient reported outcomes and functional status changes.
About NGM120
NGM120 is an antagonistic antibody that binds glial cell-derived neurotrophic factor receptor alpha-like (GFRAL) and inhibits growth differentiation factor 15 (GDF15) signaling. NGM scientists have made several important discoveries related to GDF15, including identification of its cognate receptor, GFRAL. GFRAL is expressed in a specific region of the hindbrain, partially outside the blood brain barrier, and is believed to initiate signaling through multiple pathways, including the autonomic nervous system. NGM120 binds with high affinity to GFRAL to prevent the formation of the GDF15 co-receptor complex and its mediated signaling.
About Cachexia
Cachexia is a wasting syndrome common in cancer patients, and a frequent co-morbidity of the disease. Cachexia is associated with increased hospitalization and shortened survival compared to cancer patients who do not exhibit the syndrome. While cachexia can occur in all types of cancer, particularly high incidence rates are observed in pancreatic, gastric, colorectal and esophageal cancers, as well as non-small cell lung cancer. There are no FDA-approved therapies for cachexia.
About NGM Biopharmaceuticals, Inc.
NGM is a biopharmaceutical company focused on discovering and developing novel therapeutics based on scientific understanding of key biological pathways underlying liver and metabolic diseases, retinal diseases and oncology. We leverage our biology-centric drug discovery approach to uncover novel mechanisms of action and generate proprietary insights that enable us to move rapidly into proof-of-concept studies and deliver potential first-in-class medicines to patients. At NGM, we aspire to operate one of the most productive research and development engines in the biopharmaceutical industry, with multiple programs in clinical development. Visit us at www.ngmbio.com for more information.
Forward Looking Statements
Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "build," "plans," "designed to," "continue," "potential" and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These statements include those related to the design, timing, enrollment and potential results of NGM's Phase 1a/1b clinical trial of NGM120, including the Phase 1b expansion in patients with metastatic pancreatic cancer; the potential of NGM120 as a novel treatment for cachexia and the underlying cancer, as well as its potential to enhance patient quality of life; and the therapeutic effects and benefits of NGM120 and the role of the GDF15/GFRAL pathway. Because such statements deal with future events and are based on NGM's current expectations, they are subject to various risks and uncertainties, and actual results, performance or achievements of NGM could differ materially from those described in or implied by the statements in this press release. These forward-looking statements are subject to risks and uncertainties, including, without limitation, risks and uncertainties associated with the costly and time-consuming pharmaceutical product development process and the uncertainty of clinical success, including risks related to failure or delays in successfully enrolling or completing clinical studies, the risk that the results obtained to date in NGM's clinical trials may not be indicative of results obtained in subsequent pivotal or other late-stage trials, and the risk that NGM's ongoing or future clinical studies in humans may show that NGM120 is not a tolerable and effective treatment for cachexia and underlying cancers; the ongoing COVID-19 pandemic, which has adversely affected, and could materially and adversely affect in the future, our business and operations; the time-consuming and uncertain regulatory approval process; NGM's reliance on third-party manufacturers; the sufficiency of NGM's cash, cash equivalents and short-term marketable securities and need for additional capital; and other risks and uncertainties affecting NGM and its development programs, as well as those discussed in the sections titled "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" in our quarterly report on Form 10-Q for the quarter ended September 30, 2020, the section titled "Risk Factors" in exhibit 99.1 to our current report on Form 8-K filed with the United States Securities and Exchange Commission (SEC) on January 6, 2021 and future filings and reports that NGM makes from time to time with the SEC. Except as required by law, NGM assumes no obligation to update these forward-looking statements, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.
Investor Contact:
Alex Schwartz
[email protected]Media Contact:
Liz Melone
[email protected]1 = Haehlinget al, J. Cachexia Sarcopenia Muscle, 2010
2 = Hsu et. al., Nature 2017
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SOUTH SAN FRANCISCO, Calif., Feb. 25, 2021 (GLOBE NEWSWIRE) -- NGM Biopharmaceuticals, Inc. (NGM) (NASDAQ:NGM), a biotechnology company focused on discovering and developing transformative therapeutics for patients, today announced that David J. Woodhouse, Ph.D., Chief Executive Officer, will present an overview of the company and provide a business update at the Cowen 41st Annual Health Care Conference on Thursday, March 4, at 11:10 am ET.
A live webcast of the presentation will be available under the Investors and Media section of NGM's website at https://ir.ngmbio.com/events-presentations. A replay of the presentation will be archived on NGM's site for 30 days following the event.
About NGM Biopharmaceuticals, Inc.
NGM is a biopharmaceutical company focused on discovering and developing novel therapeutics based on scientific understanding of key biological pathways underlying liver and metabolic diseases, retinal diseases and cancer. We leverage our biology-centric drug discovery approach to uncover novel mechanisms of action and generate proprietary insights that enable us to move rapidly into proof-of-concept studies and deliver potential first-in-class medicines to patients. At NGM, we aspire to operate one of the most productive research and development engines in the biopharmaceutical industry, with multiple programs in clinical development. Visit us at www.ngmbio.com for more information.
Investor Contact:
Alex Schwartz
[email protected]Media Contact:
Liz Melone
[email protected] -
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--Humanized IgG1 monoclonal antibody engineered to potently inhibit complement C3, with the potential for extended every eight-week dosing--
--CATALINA Phase 2 study of NGM621 in patients with geographic atrophy (GA) currently underway--
SOUTH SAN FRANCISCO, Calif., Feb. 09, 2021 (GLOBE NEWSWIRE) -- NGM Biopharmaceuticals, Inc. (NASDAQ:NGM), a biotechnology company focused on discovering and developing transformative therapeutics for patients, today announced that additional data from its Phase 1 study of NGM621, an anti-complement C3 antibody, will be featured in an oral presentation at the Angiogenesis, Exudation, and Degeneration 2021 – Virtual Edition.
Details of the presentation are as follows:
Abstract Title: Inhibition of Complement C3 in Geographic Atrophy with NGM621: Phase 1 Study Results
Presenter Author: Charles C. Wykoff, M.D., Ph.D., Director of Research at Retina Consultants Houston and the Greater Houston Retina Research Foundation
Date and Time: Feb. 12, 2021 at 11:15 AM ETThe presentation will be available on the NGM Bio website at
https://www.ngmbio.com/rd/presentations-and-publications/.About NGM621 and Complement C3 Inhibition
NGM621 is a humanized IgG1 monoclonal antibody engineered to potently inhibit complement C3, with the potential for extended every eight-week dosing without pegylation. In preclinical models, NGM621's high affinity binding to C3 has demonstrated the potential for potent C3 inhibition. Preclinical data also suggest that NGM621 may not exacerbate choroidal neovascularization (CNV); the human translation of this observation is being investigated in the ongoing CATALINA Phase 2 clinical trial. C3 is a key component of the complement system, which helps orchestrate the body's response to infection and maintains tissue homeostasis. The complement cascade can be activated through its three distinct pathways – classical, lectin and alternative – all of which converge to activate C3. When this cascade is dysregulated, the immune response may lead to the development and progression of GA. Inhibition of C3 represents a promising therapeutic approach that broadly inhibits downstream effector functions triggered by the excessive activation of C3, including inflammation, activation of the adaptive immune system, opsonization (the marking of a pathogen to be destroyed by phagocytes, a type of immune cell), phagocytosis and cell lysis (cell death).
NGM621 was discovered by NGM under its strategic collaboration with Merck.
About NGM Biopharmaceuticals, Inc.
NGM is a biopharmaceutical company focused on discovering and developing novel therapeutics based on scientific understanding of key biological pathways underlying liver and metabolic diseases, retinal diseases and cancer. We leverage our biology-centric drug discovery approach to uncover novel mechanisms of action and generate proprietary insights that enable us to move rapidly into proof-of-concept studies and deliver potential first-in-class medicines to patients. At NGM, we aspire to operate one of the most productive research and development engines in the biopharmaceutical industry, with multiple programs in clinical development. Visit us at www.ngmbio.com for more information.
Forward Looking Statements
Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "suggest," "aspire," "potential," "engineered to" and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These statements include those related to: the therapeutic potential and potential extended dosing of NGM621; NGM's ability to advance potentially transformative or first-in-class medicines for patients and other statements that are not historical fact. Because such statements deal with future events and are based on NGM's current expectations, they are subject to various risks and uncertainties, and actual results, performance or achievements of NGM could differ materially from those described in or implied by the statements in this press release. These forward-looking statements are subject to risks and uncertainties, including, without limitation, the risk that NGM's ongoing or future clinical studies in humans may show that NGM621 is not a tolerable and effective treatment for GA or that extended dosing with NGM621 is not possible and other risks and uncertainties affecting NGM and its development programs, as well as those discussed in the sections titled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in NGM's quarterly report on Form 10-Q for the quarter ended September 30, 2020, the section titled "Risk Factors" in exhibit 99.1 to our current report on Form 8-K filed with the United States Securities and Exchange Commission (SEC) on January 6, 2021 and future filings and reports that NGM makes from time to time with the SEC. Except as required by law, NGM assumes no obligation to update these forward-looking statements or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.
Investor Contact:
Alex Schwartz
[email protected]Media Contact:
Liz Melone
[email protected] -
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- NGM advances its vision to build the next iconic biologics company, fueled by its in-house discovery engine
- Significant progress made across all three therapeutic area portfolios in 2020
- Phase 2b or Phase 3-enabling studies currently underway for three product candidates
- Recently completed upsized underwritten public offering of common stock, which included the full exercise by the underwriters of their option to purchase additional shares, resulting in gross proceeds of approximately $143.7 million
- Key 2021 milestones include:
• Planned initiation of Phase 1 studies for recently disclosed oncology candidates NGM707 and NGM438 expected in mid-2021 and fourth quarter 2021, respectively
• Topline data readout for Phase 2b ALPINE 2/3 study of aldafermin in patients with NASH expected in second quarter 2021
• Topline data readout for the dose-finding portion of the Phase 1a/1b study of NGM120 for the treatment of cancer anorexia/cachexia syndrome and cancer expected in the second half of 2021
SOUTH SAN FRANCISCO, Calif., Jan. 12, 2021 (GLOBE NEWSWIRE) -- NGM Biopharmaceuticals, Inc. (NGM) (NASDAQ:NGM), a biotechnology company focused on discovering and developing transformative therapeutics for patients, today outlined its key achievements in 2020 and its strategic priorities for 2021.
"2020 was a year of significant progress and growth for NGM across our pipeline, now comprising three therapeutic area portfolios – liver and metabolic diseases, retinal diseases and oncology. We have clinical programs underway across all of these therapeutic areas, including three programs in Phase 2b or Phase 3-enabling studies. We are also pleased to be heading into 2021 with approximately $425 million in cash, cash equivalents and short-term marketable securities, inclusive of the proceeds of our recent equity offering, to fuel our growing pipeline," said David J. Woodhouse, Ph.D., Chief Executive Officer at NGM.
Dr. Woodhouse further commented, "Our vision is to build the next iconic biologics company, ultimately self-sustaining with multiple products on the market and a diverse pipeline of development candidates, all fueled by our in-house discovery engine and talented team. In 2021 we expect to make meaningful progress toward realizing that vision. We anticipate reporting topline data from our Phase 2b ALPINE 2/3 study of aldafermin in NASH patients in the second quarter and continue to aggressively plan for Phase 3 development. We also anticipate moving our two recently announced oncology clinical candidates, NGM707 and NGM438, into the clinic this year. Our inspiration to make progress and advance our pipeline are the many patients waiting for effective treatments."
2020 Highlights
NGM's key achievements and milestones across its pipeline in 2020 included:
Liver and metabolic diseases
- Reported positive liver histology and biomarker data from a Phase 2 24-week study (Cohort 4) of aldafermin in patients with non-alcoholic steatohepatitis (NASH) in February 2020.
- Initiated a Phase 2b study of aldafermin in patients with NASH with F4 liver fibrosis (ALPINE 4) in February 2020.
- Completed enrollment in the Phase 2b study of aldafermin in patients with NASH with stage 2 (F2) or F3 liver fibrosis (ALPINE 2/3) in September 2020.
- Our partner, Merck, initiated a global Phase 2b study of MK-3655 in patients with NASH with F2/F3 fibrosis in the fourth quarter of 2020.
Retinal diseases
- Initiated the Phase 2 CATALINA study of NGM621 for the treatment of geographic atrophy (GA) in July 2020.
- Presented Phase 1 safety and pharmacokinetics data for NGM621 in patients with GA at the American Academy of Ophthalmology in November 2020.
Cancer
- Completed enrollment in dose-finding Phase 1a/1b studies of NGM120 for the treatment of cancer anorexia/cachexia syndrome (CACS) and cancer in November 2020.
- In the fourth quarter of 2020, announced two new oncology clinical candidates, NGM707 and NGM438, which are designed to broaden and deepen anti-tumor immune responses for patients with advanced solid tumors by reversing key myeloid and stromal resistance mechanisms.
2021 Strategic Priorities and Anticipated Milestones
NGM has several strategic priorities for 2021 intended to further the company's discovery engine and growing portfolio of programs. NGM's strategic priorities and anticipated key milestones in 2021 include:
Liver and metabolic diseases
- Report topline data from Phase 2b ALPINE 2/3 study of aldafermin in patients with NASH with F2/F3 liver fibrosis in the second quarter of 2021.
- Continue advancement of Phase 2b ALPINE 4 study of aldafermin in patients with NASH with F4 liver fibrosis.
- Continue planning for aldafermin Phase 3 development program.
Retinal diseases
- Continue advancement of the Phase 2 CATALINA study of NGM621 in patients with GA.
Oncology
- Report data from ongoing dose-finding Phase 1a/1b study of NGM120 in CACS and cancer patients in the second half of 2021.
- Initiate Phase 1b, placebo-controlled, expansion study of NGM120 in patients with metastatic pancreatic cancer, assessing both cancer and CACS endpoints, in the first quarter of 2021.
- Initiate Phase 1 studies of NGM707 and NGM438 in mid-2021 and the fourth quarter of 2021, respectively.
About NGM Biopharmaceuticals, Inc.
NGM is a biopharmaceutical company focused on discovering and developing novel therapeutics based on scientific understanding of key biological pathways underlying liver and metabolic diseases, retinal diseases and oncology. We leverage our biology-centric drug discovery approach to uncover novel mechanisms of action and generate proprietary insights that enable us to move rapidly into proof-of-concept studies and deliver potential first-in-class medicines to patients. At NGM, we aspire to operate one of the most productive research and development engines in the biopharmaceutical industry, with multiple programs in clinical development. Visit us at www.ngmbio.com for more information.
About the NGM-Merck Collaboration
Merck has a one-time option to license certain NGM pipeline programs – not including aldafermin, NGM395 and NGM386 – following human proof-of-concept trials under the terms of the companies' ongoing strategic collaboration. Upon exercising any such option, Merck would lead global product development and commercialization for the resulting products, if approved. Prior to Merck initiating a Phase 3 study for a licensed program, NGM may elect to either receive milestone and royalty payments or to co-fund development and participate in a global cost and revenue share arrangement of up to 50%. The agreement also provides NGM with the option to participate in the co-promotion of any co-funded program in the United States. In November 2018, Merck exercised its first option under the collaboration to license MK-3655, previously referred to as NGM313.
Forward Looking Statements
Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "build," "plans," expects," "anticipates," "designed to," "continue," "potential" and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These statements include those related to the productivity of NGM's research and advancement of NGM's clinical and preclinical pipeline, including its vision to build the next iconic biologics company with multiple approved products; the continued progress of, and the timing of enrollment and results of, NGM's clinical trials, including timing of the initiation of Phase 1 studies for NGM707 and NGM438, topline data readout for the Phase 2b ALPINE 2/3 study, topline data readout for the Phase 1a/1b study of NGM120; and the design, timing, enrollment, safety, tolerability and efficacy of, and continued development of, NGM's product candidates, including aldafermin (NGM282), MK-3655 (NGM313), NGM621, NGM120, NGM707, NGM438 and any of our future product candidates. Because such statements deal with future events and are based on NGM's current expectations, they are subject to various risks and uncertainties, and actual results, performance or achievements of NGM could differ materially from those described in or implied by the statements in this press release. These forward-looking statements are subject to risks and uncertainties, including, without limitation, risks and uncertainties associated with the costly and time-consuming pharmaceutical product development process and the uncertainty of clinical success, including risks related to failure or delays in successfully enrolling or completing clinical studies, the risk that the results obtained to date in NGM's clinical trials may not be indicative of results obtained in subsequent pivotal or other late-stage trials, and the risk that NGM's ongoing or future clinical studies in humans may show that aldafermin is not a tolerable and effective treatment for NASH patients; the ongoing COVID-19 pandemic, which has adversely affected, and could materially and adversely affect in the future, our business and operations; the time-consuming and uncertain regulatory approval process; NGM's reliance on third-party manufacturers for aldafermin and its other product candidates; the sufficiency of NGM's cash, cash equivalents and short-term marketable securities and need for additional capital; and other risks and uncertainties affecting NGM and its development programs, as well as those discussed in the sections titled "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" in our quarterly report on Form 10-Q for the quarter ended September 30, 2020, the section titled "Risk Factors" in exhibit 99.1 to our current report on Form 8-K filed with the United States Securities and Exchange Commission (SEC) on January 6, 2021 and future filings and reports that NGM makes from time to time with the SEC. Except as required by law, NGM assumes no obligation to update these forward-looking statements, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.
Investor Contact:
Alex Schwartz
[email protected]Media Contact:
Liz Melone
[email protected] -
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SOUTH SAN FRANCISCO, Calif., Jan. 05, 2021 (GLOBE NEWSWIRE) -- NGM Biopharmaceuticals, Inc. (NGM) (NASDAQ:NGM), a biotechnology company focused on discovering and developing transformative therapeutics for patients, today announced the pricing of an underwritten public offering of 4,629,630 shares of its common stock at a price to the public of $27.00 per share. The aggregate gross proceeds from the offering are expected to be approximately $125.0 million, before deducting the underwriting discounts and commissions and estimated offering expenses payable by NGM. The offering is expected to close on or about January 8, 2021, subject to customary closing conditions. In connection with the offering, NGM has granted the underwriters a 30-day option to purchase up to an additional 694,444 shares of its common stock at the public offering price, less underwriting discounts and commissions.
Goldman Sachs & Co. LLC, Citigroup and Cowen are acting as joint book-running managers for the offering. Raymond James and B. Riley Securities are acting as lead managers for the offering.
The shares described above are being offered by NGM pursuant to a shelf registration statement on Form S-3, including a base prospectus, that was previously filed by NGM with the Securities and Exchange Commission (the "SEC") and was declared effective on June 16, 2020. A preliminary prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC, and a final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering, when available, may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, by telephone at 866-471-2526, by facsimile at (212) 902-9316, or by email at [email protected]; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (800) 831-9146; or Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Attn: Prospectus Department, by telephone at (833) 297-2926, or by email at [email protected] The final terms of the offering will be disclosed in a final prospectus supplement to be filed 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.
About NGM Biopharmaceuticals, Inc.
NGM is a biopharmaceutical company focused on discovering and developing novel therapeutics based on scientific understanding of key biological pathways underlying liver and metabolic diseases, retinal diseases and cancer. We leverage our biology-centric drug discovery approach to uncover novel mechanisms of action and generate proprietary insights that enable us to move rapidly into proof-of-concept studies and deliver potential first-in-class medicines to patients.
Forward-Looking Statements
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not based on historical fact and include, but are not limited to, statements regarding the completion of the public offering. Any forward-looking statements are based on management's current expectations of future events 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. These risks and uncertainties include, but are not limited to, risks and uncertainties related to market conditions and satisfaction of customary closing conditions related to the public offering. For a discussion of other risks and uncertainties, and other important factors, any of which could cause our actual results to differ from those contained in the forward-looking statements, see the section titled "Risk Factors" in our quarterly report on Form 10-Q for the quarter ended September 30, 2020, and other filings with the SEC, and in the preliminary prospectus supplement related to the public offering, filed with the SEC on January 4, 2021. Except as required by law, NGM assumes no obligation to update these forward-looking statements, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.Investor Contact:
Alex Schwartz
[email protected]Media Contact:
Liz Melone
[email protected]