Third Harmonic Bio Announces Closing of Upsized Initial Public Offering and Full Exercise of the Underwriters' Option to Purchase Additional Shares

CAMBRIDGE, Mass., Sept. 19, 2022 (GLOBE NEWSWIRE) -- Third Harmonic Bio, Inc. (Nasdaq: THRD), a clinical-stage biopharmaceutical company developing a potent, highly selective, oral KIT inhibitor for the treatment of severe inflammatory diseases, today announced the closing of its initial public offering of 12,535,000 shares of its common stock, including the full exercise of the underwriters' option to purchase up to 1,635,000 additional shares of common stock, at a public offering price of $17.00 per share. All of the shares were offered by Third Harmonic Bio. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Third Harmonic Bio, were approximately $213.1 million. The shares began trading on the Nasdaq Global Market on September 15, 2022 under the ticker symbol "THRD."

Morgan Stanley, Jefferies and Cowen acted as joint bookrunning managers for the offering. LifeSci Capital acted as co-manager for the offering.

Registration statements relating to these securities have been filed with the Securities and Exchange Commission and became effective on September 14, 2022. The offering was made only by means of a prospectus. A copy of the final prospectus may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014 or by email at [e-mail]; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at [phone], or by email at [e-mail]; or Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department, by telephone at [phone], or by email at [e-mail].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Third Harmonic Bio, Inc.

Third Harmonic Bio is a clinical-stage biopharmaceutical company focused on advancing the next wave of medicine for allergy and inflammation. The company's lead product candidate, THB001, is a highly selective, oral small-molecule inhibitor of KIT, a cell surface receptor that serves as the master regulator of mast cell function and survival. THB001 is currently being evaluated in a Phase 1b proof-of-concept study in chronic inducible urticaria. With promising drug-like properties and an encouraging early clinical profile, THB001 has the potential to revolutionize the treatment of a broad range of dermatologic, respiratory and gastrointestinal allergic and mast-cell-mediated inflammatory diseases.

Media Contact:

Lori Murray
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Investor Contact:

Bob Ho
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