SAN DIEGO, April 04, 2024 (GLOBE NEWSWIRE) -- Contineum Therapeutics, Inc. (Contineum), a clinical stage biopharmaceutical company focused on discovering and developing novel, oral small molecule therapies that target biological pathways associated with specific clinical impairments for the treatment of neuroscience, inflammation and immunology indications with high unmet need, today announced the pricing of its initial public offering of 6,875,000 shares of its Class A common stock at a price to the public of $16.00 per share. All of the shares are being offered by Contineum. The gross proceeds to Contineum from the offering, before deducting underwriting discounts and commissions and estimated offering expenses payable by Contineum, are expected to be $110.0 million. The shares are expected to begin trading on The Nasdaq Global Select Market on April 5, 2024 under the symbol “CTNM.” The offering is expected to close on April 9, 2024, subject to the satisfaction of customary closing conditions. In addition, Contineum has granted the underwriters a 30-day option to purchase up to an additional 1,031,250 shares of its Class A common stock at the initial public offering price, less underwriting discounts and commissions.

Goldman Sachs & Co. LLC, Morgan Stanley, Stifel, and RBC Capital Markets are acting as joint book-running managers for the offering.

A registration statement relating to the shares being sold in this offering became effective by the Securities and Exchange Commission on April 4, 2024. The offering is being made only by means of a prospectus, copies of which may be obtained, when available from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526, or by email at This email address is being protected from spambots. You need JavaScript enabled to view it.; Morgan Stanley & Co. LLC, Prospectus Department, 180 Varick Street, New York, New York 10014, or email: This email address is being protected from spambots. You need JavaScript enabled to view it.; Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate Department, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at (415) 364-2720, or by email at This email address is being protected from spambots. You need JavaScript enabled to view it.; and RBC Capital Markets, LLC, Attention: Equity Capital Markets, 200 Vesey Street, 8th Floor, New York, New York 10281, by telephone at (877) 822-4089, or by emailing This email address is being protected from spambots. You need JavaScript enabled to view it..

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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 Contineum Therapeutics

Contineum Therapeutics is a clinical stage biopharmaceutical company focused on discovering and developing novel, oral small molecule therapies for neuroscience, inflammation and immunology (NI&I) indications with high unmet need. Contineum is focused on targeting biological pathways associated with specific clinical impairments, that the Company believes, once modulated, can demonstrably impact the course of disease. The Company has a pipeline of internally-developed programs to address multiple NI&I disorders, including PIPE-791, an LPA1 receptor antagonist, in Phase 1 clinical trials for idiopathic pulmonary fibrosis and progressive multiple sclerosis, and PIPE-307, a selective inhibitor of the M1 receptor in a Phase 2 clinical trial for relapse-remitting multiple sclerosis. Contineum is developing PIPE-307 in collaboration with Johnson & Johnson Innovative Medicines.

Forward-Looking Statements

This press release contains certain forward-looking statements, including statements with regard to the terms of the public offering and the expected trading commencement and closing dates. Words such as “expects,” “anticipates” and “intends” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions and no assurance can be given that the proposed initial public offering discussed above will be completed on the terms described. Completion of the proposed initial public offering and the terms thereof are subject to numerous factors, many of which are beyond the control of Contineum, including, without limitation, failure of customary closing conditions and the risk factors and other matters set forth in the prospectus included in the registration statement in the form last filed with the U.S. Securities and Exchange Commission (the “SEC”). These and other risks are also described in other documents that Contineum subsequently files with the SEC from time to time. Contineum undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

Company Contact:

Peter Slover
CFO
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Investor Contact:

Amy Conrad
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