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resTORbio, Inc. Announces Proposed Public Offering of Common StockBOSTON, March 18, 2019 (GLOBE NEWSWIRE) -- resTORbio, Inc. ("resTORbio" or the "Company") (Nasdaq: TORC), a clinical-stage biopharmaceutical company developing innovative medicines that target the biology of aging to prevent or treat age-related diseases, today announced that it has commenced an underwritten public offering of $50 million of shares of its common stock. resTORbio also intends to grant the underwriters a 30-day option to purchase up to an additional fifteen percent (15%) of the shares of common stock offered in the public offering. All of the shares in the proposed offering are to be sold by resTORbio. The offering is subject to market and other conditions, and 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. BofA Merrill Lynch, SVB Leerink and Guggenheim Securities are acting as joint book-running managers for the proposed offering. Wedbush PacGrow is acting as co-manager for the proposed offering. The shares are being offered by resTORbio pursuant to a shelf registration statement that was previously filed with, and subsequently declared effective on February 12, 2019 by, the U.S. Securities and Exchange Commission (SEC). A preliminary prospectus supplement relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to these securities may be obtained, when available, from:
About resTORbio resTORbio, Inc. is a clinical stage biopharmaceutical company developing innovative medicines that target the biology of aging to prevent or treat age-related diseases. resTORbio’s lead program selectively inhibits TORC1, an evolutionarily conserved pathway that contributes to the decline in function of multiple organ systems, including the immune, cardiovascular and central nervous systems. Forward-Looking Statements This press release contains "forward-looking statements" of resTORbio within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, statements related to the anticipated public offering of shares. These forward-looking statements include, but are not limited to, those relating to resTORbio’s expectations regarding the completion, timing and size of the public offering, and its expectations with respect to granting the underwriters a 30-day option to purchase additional shares. Any forward-looking statements in this press release are based on management’s current expectations and beliefs 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 related to completion of the proposed public offering on the anticipated terms, or at all, include, but are not limited to, market conditions and the satisfaction of customary closing conditions related to the proposed public offering. For a discussion of these and other risks and uncertainties, and other important factors, any of which could cause resTORbio’s actual results to differ from those contained in the forward-looking statements, see the section entitled “Risk Factors” in resTORbio’s most recent annual report on Form 10-K filed on March 18, 2019 and our period reports on Form 10-Q and Form 8-K filed with the SEC, as well as discussions of potential risks, uncertainties, and other important factors in resTORbio’s other filings with the SEC, including those contained or incorporated by reference in the preliminary prospectus supplement related to the proposed public offering to be filed with the SEC. All information in this press release is as of the date of the release, and resTORbio undertakes no duty to update this information unless required by law. Investor Contact Media Contact
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