Chiasma Announces Proposed Offering of Common Stock

WALTHAM, Mass., July 25, 2019 (GLOBE NEWSWIRE) -- Chiasma, Inc. (Nasdaq: CHMA), a clinical-stage biopharmaceutical company focused on improving the lives of patients with rare and serious chronic diseases, today announced that it has commenced an underwritten public offering of its common stock. In addition, Chiasma expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the number of shares of common stock sold in connection with the offering. All of the shares to be sold in the offering are to be sold by Chiasma. This offering is subject to market conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Chiasma intends to use the net proceeds from the offering primarily for commercialization of MYCAPSSA in the United States, if approved, and for working capital and other general corporate purposes.

Piper Jaffray & Co. and Cantor Fitzgerald & Co. are acting as book-running managers for the offering.

The shares of common stock are offered pursuant to a shelf registration statement on Form S-3 (File No. 333-223850), including a base prospectus, filed by Chiasma on March 22, 2018 and declared effective by the Securities and Exchange Commission, or the SEC, on May 3, 2018. The offering will be made only by means of a prospectus. A preliminary prospectus supplement related to the offering and a final prospectus supplement related to the offering will be filed with the SEC and will be available on the SEC’s website at . Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the offering may also be obtained from the offices of Piper Jaffray & Co., Attention: Prospectus Department 800, Nicollet Mall, J12S03, Minneapolis, MN 55402; by telephone at (800) 747-3924; or by email at ; or Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Ave., 6th Floor, New York, New York 10022, or by email at .

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 jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

About Chiasma

Chiasma, Inc. (Nasdaq: CHMA) is focused on improving the lives of patients who face challenges associated with their existing treatments for rare and serious chronic diseases. Employing its Transient Permeability Enhancer (TPE^®) technology platform, Chiasma seeks to develop oral medications that are currently available only as injections. In July 2019, Chiasma reported statistically significant data from CHIASMA OPTIMAL, its third Phase 3 clinical trial for its octreotide capsules product candidate, conditionally trade-named MYCAPSSA^®, for the maintenance therapy of adult patients with acromegaly in whom prior treatment with somatostatin analogs has been shown to be effective and tolerated. Prior to trial initiation, Chiasma reached agreement with the FDA on the design of the trial through a Special Protocol Assessment. Chiasma is headquartered in Waltham, MA with a wholly-owned subsidiary in Israel. MYCAPSSA, TPE and CHIASMA are registered trademarks of Chiasma.

Forward-Looking Statements

This release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding Chiasma’s anticipated public offering, future expectations, plans and prospects for Chiasma. Any forward-looking statements in this press release are based on management’s current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. For a discussion of these and other risks and uncertainties, and other important factors, any of which could cause our actual results to differ from those contained in the forward-looking statements, see the section entitled “Risk Factors” in Chiasma’s Annual Report on Form 10-K for the year ended December 31, 2018, and in subsequent filings with the Securities and Exchange Commission. All information in this press release is as of the date of the release, and Chiasma undertakes no duty to update this information unless required by law.

Contact:

Ashley R. Robinson

LifeSci Advisors, LLC

617-535-7742