Harpoon Therapeutics

Canaccord Genuity Acted as a Placement Agent to Harpoon Therapeutics on its Private Placement of Up to $150 Million

Canaccord Genuity is pleased to announce its client Harpoon Therapeutics, Inc. (NASDAQ: HARP) (the “Company”), a clinical-stage immunotherapy company developing novel T cell engagers, entered into a securities purchase agreement on October 23rd, 2023 for a private placement in public equity (“PIPE”) financing resulting in upfront gross proceeds of approximately $100 million, with up to an additional approximately $50 million of gross proceeds upon cash exercise of warrants, before deducting placement agent fees and offering expenses.

The PIPE financing was led by a leading biotechnology investor associated with one of the largest alternative asset managers, with participation from new and existing investors including Soleus Capital, Commodore Capital, New Leaf Venture Partners, Cormorant Asset Management, RA Capital Management, Invus, Surveyor Capital (a Citadel company), K2 HealthVentures, Ally Bridge Group, Lion Point Capital, and a large mutual fund.

Pursuant to terms of the securities purchase agreement, the Company issued an aggregate of 17,167,350 shares of its common stock (or pre-funded warrants in lieu thereof) and accompanying warrants to purchase up to an aggregate of 8,583,675 shares of its common stock, at a combined purchase price of $5.8345 per share and accompanying warrant. Each full warrant represents the right to purchase one share of the Company’s common stock at an exercise price of $5.8345 per share. In lieu of shares of common stock, certain investors are purchasing pre-funded warrants at a combined purchase price of $5.8344 per share and accompanying warrant, which equals the purchase price per share of common stock and accompanying warrant, less the $0.0001 per share exercise price of each pre-funded.

Canaccord Genuity acted as a placement agent for the PIPE financing.

Harpoon Therapeutics is a clinical-stage immunotherapy company developing a novel class of T cell engagers that harness the power of the body’s immune system to treat patients suffering from cancer and other diseases. T cell engagers are engineered proteins that direct a patient’s own T cells to kill target cells that express specific proteins, or antigens, carried by the target cells. Using its proprietary Tri- specific T cell Activating Construct (TriTAC®) platform, Harpoon is developing a pipeline of novel TriTACs initially focused on the treatment of solid tumors and hematologic malignancies. Harpoon has also developed a proprietary ProTriTAC™ platform, which applies a prodrug concept to its TriTAC platform to create a therapeutic T cell engager that remains inactive until it reaches the tumor. Harpoon’s third proprietary technology platform, extended release TriTAC-XR, is designed to mitigate cytokine release syndrome.