CAMBRIDGE, Mass., March 27, 2018 (GLOBE NEWSWIRE) -- Leap Therapeutics, Inc. (NASDAQ:LPTX), a biotechnology company
focused on developing targeted and immuno-oncology therapeutics, today announced the closing of a public offering of 2,146,667
shares of its common stock, which includes the sale of an additional 280,000 shares of its common stock pursuant to the full
exercise of the underwriters’ option to purchase additional shares. Total gross proceeds to Leap from this offering were $16.1
million, before deducting underwriting discounts and offering expenses payable by Leap.
Raymond James & Associates, Inc. and Ladenburg Thalmann acted as book-running managers for the offering.
The shares were offered pursuant to an effective shelf registration statement on Form S-3 (File No. 333-223419) that was
previously filed by Leap with the Securities and Exchange Commission (the “SEC”) on March 2, 2018 and was declared effective by the
SEC on March 16, 2018. A prospectus supplement and the related prospectus have been filed with the SEC and are available, for free,
on the SEC’s website at http://www.sec.gov. Copies of the prospectus supplement and the accompanying prospectus may be obtained
from: Raymond James & Associates, Inc., Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, Florida 33716, or by
telephone at (800) 248-8863, or e-mail at prospectus@raymondjames.com; or from Ladenburg Thalmann, 277 Park Ave, 26th Floor, New York, NY
10172, or by email at prospectus@ladenburg.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of
these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or jurisdiction.
About Leap Therapeutics
Leap Therapeutics (NASDAQ:LPTX) is focused on developing targeted and immuno-oncology therapeutics. Leap’s most advanced
clinical candidate, DKN-01, is a humanized monoclonal antibody targeting the Dickkopf-1 (DKK1) protein, a Wnt pathway modulator.
DKN-01 is in clinical trials in patients with esophagogastric cancer, biliary tract cancer, and gynecologic cancers, with an
emerging focus on patients with defined mutations of the Wnt pathway and in combinations with immune checkpoint inhibitors. Leap’s
second clinical candidate, TRX518, is a novel, humanized GITR agonist monoclonal antibody designed to enhance the immune system’s
anti-tumor response that is in two advanced solid tumor studies.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section
21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which involve risks and
uncertainties. These statements include statements regarding Leap’s expectations with respect to the development and advancement of
DKN-01, TRX518, and other programs, including the initiation, timing and design of future studies, enrollment in future studies,
business development, and other future expectations, plans and prospects. Leap has attempted to identify forward looking statements
by such terminology as ‘‘believes,’’ ‘‘estimates,’’ ‘‘anticipates,’’ ‘‘expects,’’ ‘‘plans,’’ ‘‘projects,’’ ‘‘intends,’’ ‘‘may,’’
‘‘could,’’ ‘‘might,’’ ‘‘will,’’ ‘‘should,’’ or other words that convey uncertainty of future events or outcomes to identify these
forward-looking statements. Although Leap believes that the expectations reflected in such forward-looking statements are
reasonable as of the date made, forward-looking statements are subject to known and unknown risks, uncertainties and other factors
that could cause actual results to differ materially from our expectations. Such risks and uncertainties include, but are not
limited to: the accuracy of our estimates regarding expenses, future revenues, capital requirements and needs for financing; the
ability to complete a financing or form business development relationships to fund our expenses; the outcome, cost, and timing of
our product development activities and clinical trials; the uncertain clinical development process, including the risk that
clinical trials may not have an effective design or generate positive results; our ability to obtain and maintain regulatory
approval of our drug product candidates; our plans to research, develop, and commercialize our drug product candidates; our ability
to achieve market acceptance of our drug product candidates; unanticipated costs or delays in research, development, and
commercialization efforts; the applicability of clinical study results to actual outcomes; the size and growth potential of the
markets for our drug product candidates; our ability to continue obtaining and maintaining intellectual property protection for our
drug product candidates; and other risks. Detailed information regarding factors that may cause actual results to differ materially
will be included in Leap Therapeutics’ periodic filings with the Securities and Exchange Commission (the "SEC"),
including Leap Therapeutics’ Form 10-K that Leap filed with the SEC on February 23, 2018. These statements are only predictions and
involve known and unknown risks, uncertainties, and other factors. Any forward looking statements contained in this release speak
only as of its date. We undertake no obligation to update any forward-looking statements contained in this release to reflect
events or circumstances occurring after its date or to reflect the occurrence of unanticipated events.
CONTACT:
Douglas E. Onsi
Chief Financial Officer
Leap Therapeutics, Inc.
donsi@leaptx.com
617-714-0360
Argot Partners
Investor Relations
Susan Kim or Heather Savelle
212-600-1902
susan@argotpartners.com
heather@argotpartners.com
