RESEARCH TRIANGLE PARK, N.C., May 08, 2017 (GLOBE NEWSWIRE) -- G1 Therapeutics, Inc., a clinical-stage oncology company, today announced the commencement of the initial public offering of shares of its common stock pursuant to a registration statement on Form S-1 filed with the Securities and Exchange Commission (the “Commission”). The offering consists of 6,250,000 shares of common stock being offered by the Company. In addition, the Company is expected to grant the underwriters a 30-day option to purchase up to an additional 937,500 shares of common stock at the public offering price, less the underwriting discount. The current expected initial public offering price is between $15.00 and $17.00 per share. G1 plans to list its common stock on the NASDAQ Global Market under the ticker symbol “GTHX”.

The Company intends to use the net proceeds from the offering to fund the development of its two clinical-stage product candidates and a preclinical-stage product candidate, for drug manufacturing expenses, and for working capital and other general corporate purposes.

J.P. Morgan Securities LLC and Cowen and Company, LLC will serve as joint book-running managers for the offering. Needham & Company, LLC and Wedbush Securities Inc. will serve as co-managers.

About G1 Therapeutics, Inc.

G1 Therapeutics is a clinical-stage biopharmaceutical company developing novel, small-molecule therapies that address significant unmet needs in the treatment of cancer. The company is advancing a pipeline of potential best-in-class and first-in-class drug candidates in multiple oncology indications. G1 is based in Research Triangle Park, NC.