Exhibit 99.2
Prometheus Biosciences, Inc. Announces Pricing of Public Upsized $500 Million Offering of Common Stock
SAN DIEGO, Dec. 8, 2022 (GLOBE NEWSWIRE) – Prometheus Biosciences, Inc. (Nasdaq: RXDX), a clinical-stage biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment of immune-mediated diseases, today announced the pricing of an underwritten offering of 4,545,455 shares of its common stock at a price to the public of $110 per share. All of the shares to be sold in the offering are to be sold by Prometheus. The gross proceeds to Prometheus from the offering, before deducting the underwriting discounts and commissions and other offering expenses, are expected to be $500 million. The offering is expected to close on or about December 13, 2022, subject to the satisfaction of customary closing conditions. In addition, Prometheus has granted the underwriters a 30-day option to purchase up to an additional 681,818 shares of common stock.
Prometheus intends to use the net proceeds from this offering, together with its existing cash, cash equivalents and short-term investments to fund the development of PRA023, PRA052 and its other research and development programs, and for working capital and general corporate purposes.
Goldman Sachs & Co. LLC, SVB Securities LLC, Jefferies LLC and Guggenheim Securities, LLC are acting as joint bookrunning managers for the offering.
The securities described above are being offered by Prometheus pursuant to a shelf registration statement that became automatically effective upon filing with the Securities and Exchange Commission (SEC). A preliminary prospectus supplement and accompanying prospectus relating to this offering were filed with the SEC and a final prospectus supplement relating to the offering will be filed with the SEC. The offering may be made only by means of a prospectus supplement and accompanying prospectus. When available, copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained from: Goldman Sachs & Co. LLC, at (866) 471-2526, Attention: Prospectus Department, 200 West Street, New York, New York 10282, prospectus-ny@ny.email.gs.com; SVB Securities LLC, at (800) 808-7525, ext. 6105, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, Massachusetts 02109, syndicate@svbsecurities.com; Jefferies LLC, at (877) 821-7388, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, New York 10022, Prospectus_Department@Jefferies.com; and Guggenheim Securities, LLC, at (212) 518-9544, Attention: Equity Syndicate Department, 330 Madison Avenue, New York, New York 10017, GSEquityProspectusDelivery@guggenheimpartners.com. Electronic copies of the final prospectus supplement and accompanying prospectus will also be available on the website of the SEC at http://www.sec.gov.
