Item 2.02 Results of Operations and Financial Condition.
On October 26, 2020, Turning Point Therapeutics, Inc. (the “Company”) filed with the Securities and Exchange Commission (the “SEC”) a preliminary prospectus supplement (the “Preliminary Prospectus”) pursuant to Rule 424(b) under the Securities Act of 1933, as amended, relating to its Registration Statement on Form S-3ASR (File No. 333-238300) filed with the SEC on May 15, 2020, in connection with a proposed public offering. In the Preliminary Prospectus, the Company disclosed that it had approximately $711.4 million of cash, cash equivalents and marketable securities as of September 30, 2020 and that, after giving effect to an assumed issuance and sale of $400.0 million of shares in the proposed public offering and after deducting the underwriting discounts and commissions and estimated offering expenses payable by the Company, the Company would have had approximately $1,088.4 million of cash, cash equivalents and marketable securities as of September 30, 2020. These amounts are unaudited and do not present all information necessary for an understanding of the Company’s financial condition as of September 30, 2020. The review of the Company’s financial statements for the quarter ended September 30, 2020 is ongoing and could result in changes to these amounts.
The information contained in this Current Report on Form 8-K under Item 2.02 is being furnished and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section and will not be incorporated by reference into any registration statement filed by the Company, under the Securities Act of 1933, as amended, unless specifically identified as being incorporated therein by reference.
Forward-Looking Statements
This report contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this report that are not historical facts may be considered “forward-looking statements,” including, but not limited to, statements regarding the Company’s preliminary unaudited cash, cash equivalents and marketable securities as of September 30, 2020 and expectations regarding the completion of the proposed public offering. Forward-looking statements are typically, but not always, identified by the use of words such as “may,” “would,” “believe,” “intend,” “plan,” “anticipate,” “estimate,” “expect,” and other similar terminology. Forward-looking statements are based on current expectations of management and upon what management believes to be reasonable assumptions based on information currently available to it, and are subject to risks and uncertainties. Such risks and uncertainties may cause actual results to differ materially from the expectations set forth in the forward-looking statements. Such risks and uncertainties include, but are not limited to, risks related to preliminary financial results, including the risks that the preliminary financial results reported herein reflect information available to the Company only at this time and may differ from actual results, including in connection with the Company’s completion of financial closing procedures, risks associated with market conditions and the satisfaction of closing conditions related to the proposed public offering, risks and uncertainties associated with the Company’s business and finances in general, risks associated with the COVID-19 global pandemic, as well as other risks detailed in the Company’s recent filings on Forms 10-K and 10-Q with SEC. The Company undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances, or to reflect the occurrence of unanticipated events.
