Tocagen Announces Closing of Initial Public Offering and Exercise of the Underwriters' Option

SAN DIEGO, April 19, 2017 /PRNewswire/ -- Tocagen Inc. (Nasdaq: TOCA), a clinical-stage, cancer-selective gene therapy company, today announced the closing of its initial public offering of common stock, including the underwriters' exercise of their option to purchase an additional 1,275,000 shares at the public offering price of $10.00 per share. The underwriters' option brought the total number of shares of common stock sold by Tocagen to 9,775,000 shares and increased the amount of gross proceeds raised in the offering to approximately $97.8 million, prior to deducting the underwriting discount and estimated expenses of the offering.

Leerink Partners LLC, Evercore Group L.L.C. and Stifel, Nicolaus & Company, Incorporated acted as joint bookrunning managers for the offering.

The shares were offered by Tocagen pursuant to a registration statement that was declared effective by the Securities and Exchange Commission ("SEC") on April 12, 2017. A prospectus relating to and describing the terms of the offering has been filed with the SEC and is available on the SEC's web site at www.sec.gov. Copies of the prospectus relating to this offering can be obtained from Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110 or by telephone at (800) 808-7525, ext. 6132 or by email at syndicate@leerink.com; or from Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 36th Floor, New York, NY 10055, or by telephone at (888) 474-0200 or by email at ecm.prospectus@evercore.com; or from Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104 or by telephone at (415) 364-2720 or by email at syndprospectus@stifel.com.

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 any such state or jurisdiction.

About Tocagen

Tocagen is a clinical-stage, cancer-selective gene therapy company developing first-in-class, broadly applicable product candidates designed to activate a patient's immune system against their own cancer. Tocagen is developing its lead product candidate, Toca 511 & Toca FC, initially for the treatment of recurrent high grade glioma, a disease with a significant unmet medical need. Tocagen has received grant support from leading brain cancer foundations, including Accelerate Brain Cancer Cure (ABC2), National Brain Tumor Society (NBTS), American Brain Tumor Association (ABTA), Musella Foundation and Voices Against Brain Cancer (VABC).

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SOURCE Tocagen Inc.