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S-1
VITAE PHARMACEUTICALS, INC filed this Form S-1 on 08/12/2014
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USE OF PROCEEDS

        We estimate that the net proceeds from the sale of shares of our common stock in this offering will be approximately $             million, based on an assumed initial public offering price of $            per share, the midpoint of the price range set forth on the cover page of this prospectus, and after deducting the estimated underwriting discounts and commissions and estimated offering expenses payable by us. If the underwriters' option to purchase additional shares from us is exercised in full, we estimate that our net proceeds will be approximately $             million. A $1.00 increase (decrease) in the assumed initial public offering price of $            per share, the midpoint of the price range set forth on the cover page of this prospectus, would increase (decrease) the estimated net proceeds to us by $             million, assuming that the number of shares offered by us as set forth on the cover page of this prospectus remains the same and after deducting the estimated underwriting discounts and commissions and estimated offering expenses payable by us. We may also increase or decrease the number of shares we are offering. An increase (decrease) of 1.0 million in the number of shares offered by us would increase (decrease) the net proceeds to us by $             million, assuming an initial public offering price of $            per share, the midpoint of the price range set forth on the cover page of this prospectus, and after deducting the estimated underwriting discounts and commissions and estimated offering expenses payable by us.

        As of June 30, 2014, we had cash, cash equivalents and marketable securities of $18.1 million. We intend to use the net proceeds from this offering, together with such existing cash resources, as follows:

    approximately $             million to fund the costs for progressing our RORgt program through a single ascending and a multiple ascending dose Phase 1 clinical trials for VTP-43742;

    approximately $             million to fund the costs for progressing VTP-38443 through filing an IND in preparation for a Phase 1 clinical trial for the treatment of ACS;

    approximately $             million to fund the costs for progressing VTP-38543 through a single ascending dose Phase 1 clinical trial for the treatment of atopic dermatitis;

    approximately $             million to fund our continued discovery efforts to identify additional drug candidates for new therapeutic molecular targets, including our immuno-oncology efforts;

    approximately $             million for debt maintenance (our credit facility bears interest at 8.85% per annum and the final payment is due in October 2015); and

    the remainder for working capital and other general corporate purposes.

        This expected use of net proceeds from this offering represents our intentions based upon our current plans and business conditions, which could change in the future as our plans and business conditions evolve. We will require substantial future capital in order to complete the remaining clinical development of VTP-43742, VTP-38443, VTP-38543 and our future product candidates and to potentially commercialize these products. The amounts and timing of our actual expenditures may vary significantly depending on numerous factors, including the progress of our development, feedback from regulatory authorities, the status of and results from clinical trials, as well as any collaborations that we may enter into with third parties for our drug candidates, and any unforeseen cash needs. Accordingly, our management will have broad discretion in using the net proceeds from this offering.

        Pending use of the proceeds as described above, we intend to invest the proceeds in a variety of capital preservation investments, including short-term, interest-bearing, investment-grade instruments and U.S. government securities.

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