TPTX Turning Point Therapeutics Inc.

106.5
-1.5  -1%
Previous Close 108
Open 107.74
52 Week Low 31.3042
52 Week High 122.85
Market Cap $5,130,365,606
Shares 48,172,447
Float 35,844,285
Enterprise Value $4,495,380,276
Volume 348,618
Av. Daily Volume 475,036
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Upcoming Catalysts

Drug Stage Catalyst Date
Repotrectinib (TPX-0005) - TRIDENT-1
Non-small-cell lung cancer (NSCLC) and solid tumors
Phase 2
Phase 2
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TPX-0046
RET-altered NSCLC
Phase 1/2
Phase 1/2
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Drug Pipeline

Drug Stage Notes
TPX-0022
Solid tumors
Phase 1
Phase 1
Phase 1 interim data presented at EORTC-NCI-AACR 24 October 2020. 5/10 partial responses among MET TKI-naïve patients, Phase 2 trial to be initiated 2H 2021.

Latest News

    • Early Interim Data for TRIDENT-1 Phase 2 Study of Repotrectinib and Second Drug Candidate, TPX-0022, Recently Presented

    • Phase 2 TRIDENT-1 Registrational Study Full Site Activation and Timeline Update Anticipated in Early 2021

    • Four Clinical Studies of Three Drug Candidates Ongoing; Three Additional Clinical Studies Planned in 2021

    • Cash, Cash Equivalents, and Marketable Securities of $711 Million and Net Proceeds of Approximately $434 million from Recent Stock Offering Expected to Fund Current Operations into 2024

    SAN DIEGO, Nov. 12, 2020 (GLOBE NEWSWIRE) -- Turning Point Therapeutics, Inc. (NASDAQ:TPTX), a precision oncology company developing next-generation therapies that target genetic drivers of cancer, today reported financial results and…

    • Early Interim Data for TRIDENT-1 Phase 2 Study of Repotrectinib and Second Drug Candidate, TPX-0022, Recently Presented



    • Phase 2 TRIDENT-1 Registrational Study Full Site Activation and Timeline Update Anticipated in Early 2021



    • Four Clinical Studies of Three Drug Candidates Ongoing; Three Additional Clinical Studies Planned in 2021



    • Cash, Cash Equivalents, and Marketable Securities of $711 Million and Net Proceeds of Approximately $434 million from Recent Stock Offering Expected to Fund Current Operations into 2024

    SAN DIEGO, Nov. 12, 2020 (GLOBE NEWSWIRE) -- Turning Point Therapeutics, Inc. (NASDAQ:TPTX), a precision oncology company developing next-generation therapies that target genetic drivers of cancer, today reported financial results and operational updates for the third quarter ended Sept. 30.

    "We made substantial progress in our repotrectinib and TPX-0022 programs since our last quarterly update -- reporting early interim data from both the Phase 2 TRIDENT-1 registrational study of repotrectinib and the Phase 1 SHIELD-1 study of TPX-0022 – and raised net proceeds of approximately $434 million through our October stock offering to fund current operations into 2024," said Athena Countouriotis, M.D., president and chief executive officer. "In addition, we continued to build a strong team to advance our pipeline of four drug candidates, with three new clinical trials planned for 2021, and importantly, to invest in earlier stage discovery. We look forward to completing our site activations in TRIDENT-1 and submitting our fourth IND in early 2021."

    Third quarter and recent highlights include:

    • Progress in the Phase 2 TRIDENT-1 registrational study of repotrectinib, where the company reported early interim data in August. Utilizing a July 10, 2020 data cutoff, the preliminary efficacy and safety in the first 39 treated patients across multiple Phase 2 cohorts demonstrated confirmed objective response rates (ORR) of 86 percent in TKI-naïve ROS1-positive non-small cell lung cancer (NSCLC) patients (EXP-1: n=7); 40 percent in ROS1-positive NSCLC patients previously treated with a TKI and prior platinum-based chemotherapy (EXP2: n=5); 67 percent in ROS1-positive NSCLC patients previously treated with a TKI and no prior chemotherapy (EXP-4: n=6); and 50 percent in NTRK-positive TKI-pretreated patients (EXP-6: n=6), all by physician assessment. Repotrectinib was generally well tolerated, with the majority of treatment emergent adverse events reported as Grade 1 or 2.



      Turning Point has been granted three Fast Track designations by the Food and Drug Administration (FDA), in ROS1-positive advanced NSCLC patients who are TKI naïve, ROS1-positive advanced NSCLC patients who have been previously treated with one prior line of platinum-based chemotherapy and one prior ROS1 TKI, and NTRK-positive patients with advanced solid tumors who have progressed following treatment with at least one prior line of chemotherapy and one or two prior TRK TKIs.



      The company's goal is to complete global activation of sites in the TRIDENT-1 study in early 2021, after which it plans to provide an update on the overall study timeline. Turning Point's regional partner, Zai Lab, will continue to activate sites in 2021.
    • Progress in the Phase 1 SHIELD-1 study of TPX-0022, Turning Point's MET, SRC and CSF1R inhibitor, where initial data reported in a late-breaker oral presentation at the EORTC-NCI-AACR symposium highlighted preliminary clinical activity, including objective responses across multiple tumor types and a generally tolerable safety profile.



      The company anticipates initiating Phase 1 dose expansion after determining the recommended Phase 2 dose. The company also plans to discuss the ongoing Phase 1 SHIELD-1 study with the FDA to potentially modify the trial into a registrational Phase 1/2 design with the goal to initiate the Phase 2 portion of the study in the second half of 2021, pending FDA feedback.
    • Two additional trials ongoing, including the Phase 1/2 open-label study to assess repotrectinib in pediatric patients with ALK-, NTRK- or ROS1-positive advanced solid tumors; and the Phase 1/2 study of RET-inhibitor TPX-0046.



    • Presenting preclinical data in a KRAS G12C NSCLC tumor xenograft model demonstrating repotrectinib significantly enhanced the efficacy of AMG-510 and showed a marked survival benefit when compared to AMG-510 alone. Repotrectinib has previously demonstrated synergy in preclinical models with AMG-510 and a MEK inhibitor. Based on these preclinical data, Turning Point plans to initiate a clinical combination study in KRAS mutant NSCLC in mid-2021.



    • Completing a follow-on public stock offering generating net proceeds to Turning Point of approximately $434 million.

    Third Quarter Financial Update

    Revenue of $25 million recorded in the quarter was the result of an upfront payment from Zai Lab under the company's license agreement for repotrectinib in Greater China. Operating expenses for the third quarter totaled $43.5 million compared to $22.1 million in the third quarter of 2019. Primary drivers of the year-over-year increase were investments made to develop repotrectinib, TPX-0022, TPX-0046 and personnel expenses.

    Excluding a one-time non-cash stock-based compensation charge in the first quarter, non-GAAP operating expenses for the first nine months totaled $107.5 million compared to $54.7 million in the prior-year period. Year-to-date net cash used in operating activities was $49.4 million.

    Cash, cash equivalents and marketable securities at Sept. 30 totaled $711.4 million, an increase of $1 million from June 30 driven by the upfront payment from Zai Lab, partially offset by cash used in operating activities for the quarter. In addition, Turning Point completed a follow-on public stock offering in October that generated net proceeds of $433.6 million. Turning Point Therapeutics projects its cash position funds current operations into 2024.

    Upcoming Milestones

    Key milestones anticipated into 2021 include:

    • TRIDENT-1 data presentation in a mini-oral session at the World Conference on Lung Cancer in January 2021.



    • Achievement of full TRIDENT-1 global site activation in early 2021, excluding sites within China managed by the company's partner Zai Lab, and an update on the overall study timeline in early 2021.



    • Submitting an investigational new drug application to the FDA for ALK-inhibitor TPX-0131 in early 2021.



    • Reporting early interim data from initial patients in the Phase 1 study of RET-inhibitor TPX-0046 in the first half of 2021.



    • Initiation of TRIDENT-2, a planned Phase 2 combination study of repotrectinib in patients with KRAS mutant NSCLC in mid-2021.



    • Initiation of the planned Phase 2 portion of the SHIELD-1 study of TPX-0022 in the second half of 2021, pending FDA feedback.



    • Initiation of SHIELD-2, a planned Phase 2 study of TPX-0022 in combination with an inhibitor of epidermal growth factor receptor (EGFR), in the second half of 2021.

    About Turning Point Therapeutics Inc.

    Turning Point Therapeutics is a clinical-stage precision oncology company with a pipeline of internally discovered investigational drugs designed to address key limitations of existing cancer therapies. The company's lead drug candidate, repotrectinib, is a next-generation kinase inhibitor targeting the ROS1 and TRK oncogenic drivers of non-small cell lung cancer and advanced solid tumors. Repotrectinib, which is being studied in a registrational Phase 2 study called TRIDENT-1 in adults and a Phase 1/2 study in pediatric patients, has shown antitumor activity and durable responses among kinase inhibitor treatment-naïve and pre-treated patients. The company's pipeline of drug candidates also includes TPX-0022, targeting MET, CSF1R and SRC, which is in a Phase 1 study called SHIELD-1 in patients with advanced or metastatic solid tumors harboring genetic alterations in MET; RET-inhibitor TPX-0046, which is in a Phase 1/2 study of patients with advanced or metastatic solid tumors harboring genetic alterations in RET; and ALK-inhibitor TPX-0131, which is in IND-enabling studies. Turning Point's next-generation kinase inhibitors are designed to bind to their targets with greater precision and affinity than existing therapies, with a novel, compact structure that has demonstrated an ability to potentially overcome treatment resistance common with other kinase inhibitors. The company is driven to develop therapies that mark a turning point for patients in their cancer treatment. For more information, visit www.tptherapeutics.com.

    Non-GAAP Financial Measures

    In addition to the financial results that are provided in accordance with accounting principles generally accepted in the United States (GAAP), this press release also contains a non-GAAP financial measure. When preparing our supplemental non-GAAP financial results, the Company excluded certain GAAP items that management does not consider to be normal. In particular, the non-GAAP measure excludes non-cash stock-based compensation expense relating to a one-time charge of $31.4 million associated with previously disclosed modifications to the vesting of existing stock options, pursuant to the transition agreement with the company's scientific founder. This non-GAAP measure is provided as a complement to results provided in accordance with GAAP as management believes this non-GAAP financial measure is important in comparing current results with prior-period results. A reconciliation of the GAAP financial results to non-GAAP financial results is included in the attached financial 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. Such forward-looking statements include statements regarding, among other things, the efficacy, safety and therapeutic potential of Turning Point Therapeutics' drug candidates, repotrectinib, TPX-0022, TPX-0046 and TPX-0131, the results, conduct, progress and timing of Turning Point Therapeutics' development programs and clinical trials including the Phase 2 TRIDENT-1 clinical study, the Phase 1/2 pediatric clinical study of repotrectinib, the Phase 1 SHIELD-1 clinical study of TPX-0022 and the Phase 1/2 clinical study of TPX-0046, plans regarding future clinical trials and regulatory submissions, the regulatory approval path for repotrectinib, the potential to receive milestone and royalty payments from Zai Lab, the strength of Turning Point Therapeutics' balance sheet and the adequacy of cash on hand. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "plans", "will", "believes," "anticipates," "expects," "intends," "goal," "potential" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Turning Point Therapeutics' current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks and uncertainties associated with Turning Point Therapeutics' business in general, risks and uncertainties related to the impact of the COVID-19 pandemic to Turning Point's business and the other risks described in Turning Point Therapeutics' filings with the SEC. All forward-looking statements contained in this press release speak only as of the date on which they were made. Turning Point Therapeutics undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.



    TURNING POINT THERAPEUTICS, INC.

    Balance Sheet Data

    (In thousands)

    (unaudited)

      September 30,  December 31,  
      2020  2019  
    Balance Sheet Data:         
    Cash, cash equivalents, and marketable securities $711,388  $409,151  
    Working capital  697,907   400,915  
    Total assets  724,633   422,202  
    Accumulated deficit  (232,800)  (122,884) 
    Total stockholders' equity  701,588   404,351  



    TURNING POINT THERAPEUTICS, INC.

    STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

    (In thousands, except share and per share amounts)

    (unaudited)

      Three Months Ended September 30,  Nine Months Ended September 30,  
      2020  2019  2020  2019  
    Revenue $25,000   -  $25,000  $-  
    Operating expenses:                 
    Research and development  32,213   16,640   79,136   40,802  
    General and administrative  11,326   5,500   59,761   13,857  
    Total operating expenses  43,539   22,140   138,897   54,659  
    Loss from operations  (18,539)  (22,140)  (113,897)  (54,659) 
    Other income, net  834   1,657   3,981   3,487  
    Net loss  (17,705)  (20,483)  (109,916)  (51,172) 
    Unrealized gain / (loss) on marketable securities, net of tax  (606)  (24)  141   322  
    Comprehensive loss $(18,311) $(20,507) $(109,775) $(50,850) 
    Net loss per share, basic and diluted $(0.42) $(0.63) $(2.82) $(2.54) 
    Weighted-average common shares outstanding, basic and diluted  42,185,824   32,312,814   38,914,789   20,178,979  
                      



    TURNING POINT THERAPEUTICS, INC.

    Reconciliation of GAAP to Non-GAAP Financial Results

    (In thousands)

    (unaudited)

      Three Months Ended September 30,  Nine Months Ended September 30,  
      2020  2019  2020  2019  
    GAAP Operating Expenses $(43,539) $(22,140) $(138,897) $(54,659) 
    Adjustments:                 
    Share-based compensation expense (1)        31,405     
    Non-GAAP Operating Expenses $(43,539) $(22,140) $(107,492) $(54,659) 

    (1)   During the first quarter of 2020, the Company recognized in non-cash stock-based compensation expense a one-time charge of $31.4 million associated with previously disclosed modifications to the vesting of existing stock options, pursuant to the transition agreement with the company's scientific founder.

    Contact:

    Jim Mazzola



    858-342-8272

    Primary Logo

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  1. SAN DIEGO, Nov. 10, 2020 (GLOBE NEWSWIRE) -- Turning Point Therapeutics, Inc. (NASDAQ:TPTX), a precision oncology company developing next-generation therapies that target genetic drivers of cancer, today announced that President and CEO Athena Countouriotis, M.D., will present a company overview at the Jefferies Virtual London Healthcare Conference on Nov. 18.

    Dr. Countouriotis' session is scheduled to begin at 12:35 p.m. ET and will be accessible via webcast through the Investors page of www.tptherapeutics.com.

    About Turning Point Therapeutics Inc.
    Turning Point Therapeutics is a clinical-stage precision oncology company with a pipeline of internally discovered investigational drugs designed to address key limitations of existing cancer…

    SAN DIEGO, Nov. 10, 2020 (GLOBE NEWSWIRE) -- Turning Point Therapeutics, Inc. (NASDAQ:TPTX), a precision oncology company developing next-generation therapies that target genetic drivers of cancer, today announced that President and CEO Athena Countouriotis, M.D., will present a company overview at the Jefferies Virtual London Healthcare Conference on Nov. 18.

    Dr. Countouriotis' session is scheduled to begin at 12:35 p.m. ET and will be accessible via webcast through the Investors page of www.tptherapeutics.com.

    About Turning Point Therapeutics Inc.

    Turning Point Therapeutics is a clinical-stage precision oncology company with a pipeline of internally discovered investigational drugs designed to address key limitations of existing cancer therapies. The company's lead drug candidate, repotrectinib, is a next-generation kinase inhibitor targeting the ROS1 and TRK oncogenic drivers of non-small cell lung cancer and advanced solid tumors. Repotrectinib, which is being studied in a registrational Phase 2 study called TRIDENT-1 in adults and a Phase 1/2 study in pediatric patients, has shown antitumor activity and durable responses among kinase inhibitor treatment-naïve and pre-treated patients. The company's pipeline of drug candidates also includes TPX-0022, targeting MET, CSF1R and SRC, which is in a Phase 1 study called SHIELD-1 in patients with advanced or metastatic solid tumors harboring genetic alterations in MET; RET-inhibitor TPX-0046, which is in a Phase 1/2 study of patients with advanced or metastatic solid tumors harboring genetic alterations in RET; and ALK-inhibitor TPX-0131, which is in IND-enabling studies. Turning Point's next-generation kinase inhibitors are designed to bind to their targets with greater precision and affinity than existing therapies, with a novel, compact structure that has demonstrated an ability to potentially overcome treatment resistance common with other kinase inhibitors. The company is driven to develop therapies that mark a turning point for patients in their cancer treatment. For more information, visit www.tptherapeutics.com.

    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. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "plans", "will", "believes," "anticipates," "expects," "intends," "goal," "potential" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Turning Point Therapeutics' current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks and uncertainties associated with Turning Point Therapeutics' business in general, risks and uncertainties related to the impact of the COVID-19 pandemic to Turning Point's business and the other risks described in Turning Point Therapeutics' filings with the SEC. All forward-looking statements contained in this press release speak only as of the date on which they were made. Turning Point Therapeutics undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

    Contact:

    Jim Mazzola



    858-342-8272

    Primary Logo

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  2. SAN DIEGO, Oct. 29, 2020 (GLOBE NEWSWIRE) -- Turning Point Therapeutics, Inc. (NASDAQ:TPTX), a precision oncology company developing next-generation therapies that target genetic drivers of cancer, today announced the closing of its previously announced underwritten public offering of 5,287,357 shares of its common stock, including the exercise in full by the underwriters of their option to purchase an additional 689,655 shares, at a price to the public of $87.00 per share. The gross proceeds to Turning Point from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Turning Point, were approximately $460.0 million.

    Goldman Sachs & Co. LLC, SVB Leerink and Guggenheim Securities acted…

    SAN DIEGO, Oct. 29, 2020 (GLOBE NEWSWIRE) -- Turning Point Therapeutics, Inc. (NASDAQ:TPTX), a precision oncology company developing next-generation therapies that target genetic drivers of cancer, today announced the closing of its previously announced underwritten public offering of 5,287,357 shares of its common stock, including the exercise in full by the underwriters of their option to purchase an additional 689,655 shares, at a price to the public of $87.00 per share. The gross proceeds to Turning Point from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Turning Point, were approximately $460.0 million.

    Goldman Sachs & Co. LLC, SVB Leerink and Guggenheim Securities acted as joint bookrunning managers for the offering. Wedbush PacGrow and Roth Capital Partners acted as co-managers for the offering.

    The shares of common stock described above were offered by Turning Point pursuant to a shelf registration statement on Form S-3, including a base prospectus, that was previously filed with and became effective by rule of the Securities and Exchange Commission (the "SEC") on May 15, 2020. A final prospectus supplement and accompanying prospectus relating to the offering were filed with the SEC and are available for free 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 may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, via telephone: 1-866-471-2526, or via email: ; SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at 1-800-808-7525, ext. 6132 or by email at ; or Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017 or by telephone at 212-518-5548, or by email at .

    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 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 Turning Point Therapeutics, Inc.

    Turning Point is a clinical-stage precision oncology company with a pipeline of internally discovered investigational drugs designed to address key limitations of existing cancer therapies. The company's lead drug candidate, repotrectinib, is a next-generation kinase inhibitor targeting the ROS1 and TRK oncogenic drivers of non-small cell lung cancer and advanced solid tumors. Repotrectinib, which is being studied in a registrational Phase 2 study called TRIDENT-1 in adults and a Phase 1/2 study in pediatric patients, has shown antitumor activity and durable responses among kinase inhibitor treatment-naïve and pre-treated patients. The company's pipeline of drug candidates also includes TPX-0022, targeting MET, CSF1R and SRC, which is in a Phase 1 study called SHIELD-1 in patients with advanced or metastatic solid tumors harboring genetic alterations in MET; RET inhibitor TPX-0046, which is in a Phase 1/2 study of patients with advanced or metastatic solid tumors harboring genetic alterations in RET; and ALK inhibitor TPX-0131, which is in IND-enabling studies. Turning Point's next-generation kinase inhibitors are designed to bind to their targets with greater precision and affinity than existing therapies, with a novel, compact structure that has demonstrated an ability to potentially overcome treatment resistance common with other kinase inhibitors. The company is driven to develop therapies that mark a turning point for patients in their cancer treatment.

    Contact:

    Jim Mazzola



    858-342-8272

    Primary Logo

    View Full Article Hide Full Article
  3. SAN DIEGO, Oct. 26, 2020 (GLOBE NEWSWIRE) -- Turning Point Therapeutics, Inc. (NASDAQ:TPTX), a precision oncology company developing next-generation therapies that target genetic drivers of cancer, today announced the pricing of its previously announced underwritten public offering of 4,597,702 shares of its common stock at a price to the public of $87.00 per share. The gross proceeds to Turning Point from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Turning Point, are expected to be approximately $400.0 million. In addition, Turning Point has granted the underwriters a 30-day option to purchase up to an additional 689,655 shares of common stock. The offering is expected to close…

    SAN DIEGO, Oct. 26, 2020 (GLOBE NEWSWIRE) -- Turning Point Therapeutics, Inc. (NASDAQ:TPTX), a precision oncology company developing next-generation therapies that target genetic drivers of cancer, today announced the pricing of its previously announced underwritten public offering of 4,597,702 shares of its common stock at a price to the public of $87.00 per share. The gross proceeds to Turning Point from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Turning Point, are expected to be approximately $400.0 million. In addition, Turning Point has granted the underwriters a 30-day option to purchase up to an additional 689,655 shares of common stock. The offering is expected to close on or about October 29, 2020, subject to satisfaction of customary closing conditions.

    Goldman Sachs & Co. LLC, SVB Leerink and Guggenheim Securities are acting as joint bookrunning managers for the offering. Wedbush PacGrow and Roth Capital Partners are acting as co-managers for the offering.

    The shares of common stock described above are being offered by Turning Point pursuant to a shelf registration statement on Form S-3, including a base prospectus, that was previously filed with and became effective by rule of the Securities and Exchange Commission (the "SEC") on May 15, 2020.   A preliminary prospectus supplement and accompanying prospectus relating to the offering were filed with the SEC and are available on the SEC's website located at http://www.sec.gov. A final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available for free 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, via telephone: 1-866-471-2526, or via email: ; SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at 1-800-808-7525, ext. 6132 or by email at ; or Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017 or by telephone at 212-518-5548, or by email at .

    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 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 Turning Point Therapeutics, Inc.

    Turning Point is a clinical-stage precision oncology company with a pipeline of internally discovered investigational drugs designed to address key limitations of existing cancer therapies. The company's lead drug candidate, repotrectinib, is a next-generation kinase inhibitor targeting the ROS1 and TRK oncogenic drivers of non-small cell lung cancer and advanced solid tumors. Repotrectinib, which is being studied in a registrational Phase 2 study called TRIDENT-1 in adults and a Phase 1/2 study in pediatric patients, has shown antitumor activity and durable responses among kinase inhibitor treatment-naïve and pre-treated patients. The company's pipeline of drug candidates also includes TPX-0022, targeting MET, CSF1R and SRC, which is in a Phase 1 study called SHIELD-1 in patients with advanced or metastatic solid tumors harboring genetic alterations in MET; RET inhibitor TPX-0046, which is in a Phase 1/2 study of patients with advanced or metastatic solid tumors harboring genetic alterations in RET; and ALK inhibitor TPX-0131, which is in IND-enabling studies. Turning Point's next-generation kinase inhibitors are designed to bind to their targets with greater precision and affinity than existing therapies, with a novel, compact structure that has demonstrated an ability to potentially overcome treatment resistance common with other kinase inhibitors. The company is driven to develop therapies that mark a turning point for patients in their cancer treatment.

    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. Such forward-looking statements include, without limitation, statements regarding the completion, timing and size of the offering. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "believes," "anticipates," "plans," "expects," "intends," "will," "goal," "potential" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Turning Point's current expectations and involve assumptions that may never materialize or may prove to be incorrect.  Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks associated with market conditions and the satisfaction of closing conditions related to the offering, risks and uncertainties associated with Turning Point's business and finances in general, risks associated with the COVID-19 global pandemic, and the other risks described in Turning Point's quarterly report on Form 10-Q for the quarterly period ended June 30, 2020, the preliminary prospectus supplement relating to the offering and other filings with the SEC. All forward-looking statements contained in this press release speak only as of the date on which they were made. Turning Point undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

    Contact:

    Jim Mazzola



    858-342-8272

    Primary Logo

    View Full Article Hide Full Article
  4. SAN DIEGO, Oct. 26, 2020 (GLOBE NEWSWIRE) -- Turning Point Therapeutics, Inc. (NASDAQ:TPTX), a precision oncology company developing next-generation therapies that target genetic drivers of cancer, today announced that it has commenced an underwritten public offering, subject to market and other conditions, to issue and sell $400,000,000 of shares of its common stock. In connection with the offering, Turning Point expects to grant the underwriters a 30-day option to purchase up to an additional 15 percent of the shares of common stock offered in the public offering. There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

    Goldman Sachs & Co. LLC, SVB Leerink and Guggenheim…

    SAN DIEGO, Oct. 26, 2020 (GLOBE NEWSWIRE) -- Turning Point Therapeutics, Inc. (NASDAQ:TPTX), a precision oncology company developing next-generation therapies that target genetic drivers of cancer, today announced that it has commenced an underwritten public offering, subject to market and other conditions, to issue and sell $400,000,000 of shares of its common stock. In connection with the offering, Turning Point expects to grant the underwriters a 30-day option to purchase up to an additional 15 percent of the shares of common stock offered in the public offering. There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

    Goldman Sachs & Co. LLC, SVB Leerink and Guggenheim Securities are acting as joint bookrunning managers for the offering. Wedbush PacGrow and Roth Capital Partners are acting as co-managers for the offering.

    The securities described above are being offered by Turning Point pursuant to a shelf registration statement on Form S-3, including a base prospectus, that was previously filed with and became effective by rule of the Securities and Exchange Commission (the "SEC") on May 15, 2020. A preliminary prospectus supplement and accompanying prospectus relating to the proposed offering will be filed with the SEC and will be available for free on the SEC's website located at http://www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the proposed offering, when available, may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, via telephone: 1-866-471-2526, or via email: ; SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at 1-800-808-7525, ext. 6132 or by email at ; or Guggenheim Securities, LLC Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017 or by telephone at 212-518-5548, or by email at .

    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 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 Turning Point Therapeutics, Inc.

    Turning Point is a clinical-stage precision oncology company with a pipeline of internally discovered investigational drugs designed to address key limitations of existing cancer therapies. The company's lead drug candidate, repotrectinib, is a next-generation kinase inhibitor targeting the ROS1 and TRK oncogenic drivers of non-small cell lung cancer and advanced solid tumors. Repotrectinib, which is being studied in a registrational Phase 2 study called TRIDENT-1 in adults and a Phase 1/2 study in pediatric patients, has shown antitumor activity and durable responses among kinase inhibitor treatment-naïve and pre-treated patients. The company's pipeline of drug candidates also includes TPX-0022, targeting MET, CSF1R and SRC, which is in a Phase 1 study called SHIELD-1 in patients with advanced or metastatic solid tumors harboring genetic alterations in MET; RET inhibitor TPX-0046, which is in a Phase 1/2 study of patients with advanced or metastatic solid tumors harboring genetic alterations in RET; and ALK inhibitor TPX-0131, which is in IND-enabling studies. Turning Point's next-generation kinase inhibitors are designed to bind to their targets with greater precision and affinity than existing therapies, with a novel, compact structure that has demonstrated an ability to potentially overcome treatment resistance common with other kinase inhibitors. The company is driven to develop therapies that mark a turning point for patients in their cancer treatment.

    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. Such forward-looking statements include, without limitation, statements about Turning Point's expectations regarding the completion and timing of the proposed offering, and its expectations with respect to granting the underwriters a 30-day option to purchase additional shares. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "believes," "anticipates," "plans," "expects," "intends," "will," "goal," "potential" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Turning Point's current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks associated with market conditions and the satisfaction of closing conditions related to the proposed public offering, risks and uncertainties associated with Turning Point's business and finances in general, risks associated with the COVID-19 global pandemic, and the other risks described in Turning Point's quarterly report on Form 10-Q for the quarterly period ended June 30, 2020, the preliminary prospectus supplement relating to the proposed public offering and other filings with the SEC. All forward-looking statements contained in this press release speak only as of the date on which they were made. Turning Point undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

    Contact:

    Jim Mazzola



    858-342-8272

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