Turning Point Therapeutics Updates Its IPO Filing – Will Raise Up to $152 Million

April 8, 2019

Turning Point Therapeutics, Inc., a clinical-stage precision oncology company designing and developing novel drugs to address treatment resistance, updated its S-1 Filing. The company is proposing a maximum offering of $152 million. Turning Point will offer 7,352,941 shares of common stock  and intends to trade under the symbol “TPTX”.

The company describes itself as a clinical-stage biopharmaceutical company designing and developing novel small molecule, targeted oncology therapies to address key limitations of existing therapies and improve the lives of patients. Their internally developed and wholly owned pipeline of next-generation tyrosine kinase inhibitors (TKIs) targets numerous genetic drivers of cancer in both TKI-naïve and TKI-pretreated patients. The company currently has four development programs. Turning Point plans to initiate Ph II trials of its lead canditate, repotrectinib, in 2H 2019.

The company recently presented data from four studies at AACR 2019, highlighting potent activity of its kinase inhibitors, including repotrectinib against targeted oncogene drivers and many of their resistance mutations, and TPX-0022, a novel MET/CSF1R/SRC inhibitor.

“We are excited to share why we believe our lead asset, repotrectinib, is a potential best-in-class ROS1 and TRK targeted TKI,” said Athena Countouriotis, M.D., chief executive officer. “This is based on multiple factors, including our ongoing Phase 1 TRIDENT-1 data and what we have shown at AACR in terms of preclinical potency against fusion ROS1s and resistance mutations, as well as WT and resistance mutations within TRKA-C. We remain encouraged by the potential for repotrectinib to make a difference in the lives of patients with a range of oncogene drivers, both patients who have yet to be treated with a kinase inhibitor, as well as those who have been treated with a prior kinase inhibitor and developed treatment resistance through a specific mutation.”

Dr. Countouriotis also specifically mentioned another candidate in the company's pipeline: “While in late stage preclinical development, our MET/CSF1R/SRC kinase inhibitor, TPX-0022, has demonstrated promising preclinical activity in an important pathway for the regulation of tumor growth. We look forward to submitting our IND in the first half of 2019 and beginning our Phase 1 study in the second half of 2019.”

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