EX-10.1



 Exhibit 10.1 

SUBSCRIPTION AGREEMENT 
 Cascadian
Therapeutics, Inc. 
 2601 Fourth Avenue, Suite 500 
 Seattle,
Washington 98121 
 Ladies and Gentlemen: 
 The undersigned
(the “Investor”) hereby confirms and agrees with you as follows: 
  

	1.	This Subscription Agreement (this “Agreement”) is made as of the date set forth below between Cascadian Therapeutics Inc., a Delaware corporation (the “Company”) and the Investor.


  

	2.	The Company has authorized the sale and issuance of up to 17,250 shares (the “Shares”) of the Company’s Series D Convertible Preferred Stock, $0.0001 par value per share (the “Preferred
Stock”), for a purchase price of $800.00 per Share. The offering and sale of the Shares (the “Offering”) is being made pursuant to (a) an effective Registration Statement on Form S-3, initially filed on
December 30, 2014 (No. 333-201317) by the Company with the Securities and Exchange Commission (the “Commission”) and any registration statement relating to the Offering and filed pursuant to Rule 462(b) under the Rules and
Regulations (collectively, the “Registration Statement”), which contains the base prospectus dated January 7, 2015 (the “Base Prospectus”), (b) if applicable, certain “free writing prospectus”
(as that term is defined in Rule 405 under the Securities Act of 1933, as amended), that have or will be filed with the Commission and delivered to the Investor on or prior to the date hereof, (c) if applicable, a preliminary prospectus
supplement to the Base Prospectus (together with the Base Prospectus, the “Statutory Prospectus”), and (d) a final prospectus supplement, dated June 23, 2016 (the “Prospectus Supplement” and together with
the Base Prospectus, the “Prospectus”) containing certain supplemental information regarding the Shares and terms of the Offering that will be filed with the Commission and delivered to the Investor (or made available to the
Investor by the filing by the Company of an electronic version thereof with the Commission) along with the Company’s counterpart to this Agreement. The Investor hereby consents to the receipt of the Company’s Prospectus in portable
document format, or PDF, via electronic e-mail. 

  

	3.	As of the Closing (as defined below) and subject to the terms and conditions hereof, the Company and the Investor agree that the Investor will purchase from the Company and the Company will issue and sell to the
Investor such number of Shares as is set forth on the signature page hereto. Certificates representing the Shares purchased by the Investor will not be issued to the Investor; instead, such Shares will be credited to the Investor using customary
procedures for book-entry transfer through the facilities of The Depository Trust Company. The Investor acknowledges that the Offering is not a firm commitment underwriting and that there is no minimum offering amount. This Offering will not clear
directly through the Placement Agent (as defined below) acting in such capacity. Consequently, the Investor must instruct their individual broker how to settle the transaction. 


 

	4.	The completion of the purchase and sale of the Shares shall occur on the third day following the date hereof on which The NASDAQ Global Market is open for trading, or such other time not later than 10 business days
after such date as shall be agreed upon by the Company and the Investor (the “Closing”). At the Closing, (a) the Company shall cause its transfer agent to release to the Investor the number of Shares being purchased by the
Investor and (b) the aggregate purchase price for the Shares being purchased by the Investor will be delivered by or on behalf of the Investor to the Company. Settlement for the Shares shall occur via Deposit/Withdrawal At Custodian. The
provisions set forth in Exhibit A hereto shall be incorporated herein by reference as if set forth fully herein. 

  

	5.	The Company has entered into a Placement Agency Agreement (the “Placement Agreement”), dated June 23, 2016 with Cowen and Company, LLC and Trout Capital LLC (the “Placement
Agents”), which will act as the Company’s placement agent with respect to the Offering and receive a fee in connection with the sale of the Shares. The Placement Agreement contains certain representations and warranties of the Company.
The Company acknowledges and agrees that the Investor may rely on the representations and warranties made by it to the Placement Agents in Section 2 of the Placement Agreement to the same extent as if such representations and warranties had
been incorporated in full herein and made directly to the Investor, which shall be third party beneficiary thereof. 









	6.	The Company hereby makes the following representations, warranties and covenants to the Investor: 


(a) The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated
by this Agreement and otherwise to carry out its obligations hereunder. The execution and delivery of this Agreement by the Company and the consummation by it of the transactions contemplated hereunder have been duly authorized by all necessary
action on the part of the Company. This Agreement has been duly executed by the Company and, when delivered in accordance with the terms hereof, will constitute the valid and binding obligation of the Company enforceable against the Company in
accordance with its terms, except as may be limited by any bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or other similar laws affecting the enforcement of creditors’ rights generally or by general principles of
equity. 
 (b) The Company shall (i) before 9:30 A.M., New York City time, on June 23, 2016, issue a press release,
disclosing all material aspects of the transactions contemplated hereby, (ii) on June 23, 2016, file with the Commission a Current Report on Form 8-K, disclosing the material terms and conditions of the transactions contemplated hereby and
(ii) make such other filings and notices in the manner and time required by the Commission with respect to the transactions contemplated hereby. 

(c) The Company shall not sell, offer for sale or solicit offers to buy any security (as defined in Section 2 of the
Securities Act) in a transaction that would be (i) integrated with the offer or sale of the Shares for purposes of the rules and regulations of The NASDAQ Global Market and (ii) would require approval of the Company’s stockholders
prior to the closing of such other transaction, unless such stockholder approval is obtained before the closing of such other transaction. 

(d) If the Company applies to have the Common Stock traded on any trading market other than The NASDAQ Global Market, it will
then include in such application all of the Shares, and will take such other action as is reasonably necessary to cause all of the Common Stock to be listed or quoted on such other trading market as promptly as possible. 

 

	7.	The obligations of the Company and the Investor to complete the transactions contemplated by this Agreement shall be subject to the following: 


(a) The Company’s obligation to issue and sell the Shares to the Investor shall be subject to: (i) the receipt by the
Company of the purchase price for the Shares being purchased hereunder as set forth on the signature page hereto and (ii) the accuracy of the representations and warranties made by the Investor and the fulfillment of those undertakings of the
Investor to be fulfilled prior to the Closing Date. 
 (b) The Investor’s obligation to purchase the Shares shall be
subject to the accuracy of the representations and warranties made by the Company and the fulfillment of those undertakings of the Company to be fulfilled prior to the Closing Date, including without limitation, those contained in the Placement
Agreement, and to the condition that the Placement Agents shall not have: (i) terminated the Placement Agreement pursuant to the terms thereof or (ii) determined that the conditions to closing in the Placement Agreement have not been
satisfied. The Investor’s obligations are expressly not conditioned on the purchase by any or all of the other Investors of the Shares that they have agreed to purchase from the Company. 

 

	8.	The Investor hereby makes the following representations, warranties and covenants to the Company: 


(a) The Investor represents that it has received or had full access to the Statutory Prospectus as well as the Company’s
periodic reports and other information incorporated by reference therein, prior to or in connection with its receipt of this Agreement. 

(b) The Investor has the requisite power and authority to enter into this Agreement and to consummate the transactions
contemplated hereby. The execution and delivery of this Agreement by the Investor and the consummation by it of the transactions contemplated hereunder have been duly authorized by all necessary action on the part of the Investor. This Agreement has
been executed by the Investor and, when delivered in accordance with the terms hereof, will constitute a valid and binding obligation of the Investor enforceable against the Investor in accordance with its terms. 

(c) The Investor understands that nothing in this Agreement or any other materials presented to the Investor in connection with
the purchase and sale of the Shares constitutes legal, tax or investment advice. The Investor has consulted such legal, tax and investment advisors as it, in its sole discretion, has deemed necessary or appropriate in connection with its purchase of
Shares. 

  
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 (d) The making, execution and performance of this Agreement by the Investor and
the consummation of the transactions contemplated herein will not conflict with or result in a breach or violation of any of the terms and provisions of, or constitute a default under, (i) the charter, bylaws or other organizational documents
of such Investor, as applicable, or (ii) any law, order, rule, regulation, writ, injunction, judgment or decree of any court, administrative agency, regulatory body, government or governmental agency or body, domestic or foreign, having
jurisdiction over such Investor or its properties, except for any conflict, breach, violation or default which is not reasonably likely to have a material adverse effect on such Investor’s performance of its obligations hereunder or the
consummation of the transactions contemplated hereby. 
 (e) Neither the Investor nor any Person acting on behalf of, or
pursuant to any understanding with or based upon any information received from, the Investor has, directly or indirectly, engaged in any Short Sales involving the Company’s securities since the date that is the tenth (10th) trading day prior to the date of this Agreement. “Short Sales” include, without limitation, all “short sales” as defined in Rule 200 promulgated under Regulation SHO under
the Securities Exchange Act of 1934, as amended (the “Exchange Act”), whether or not against the box, and all types of direct and indirect stock pledges, forward sale contracts, options, puts, calls, short sales, swaps, “put
equivalent positions” (as defined in Rule 16a- 1(h) under the Exchange Act) and similar arrangements (including on a total return basis), and sales and other transactions through non-U.S. broker dealers or foreign regulated brokers. The
Investor covenants that neither it, nor any Person acting on behalf of, or pursuant to any understanding with or based upon any information received from, the Investor will engage in any transactions in the securities of the Company (including Short
Sales) prior to the time that the transactions contemplated by this Agreement are publicly disclosed. Notwithstanding the foregoing, in the case of an Investor and/or its affiliates that is, individually or collectively, a multi-managed investment
bank or vehicle whereby separate portfolio managers manage separate portions of such Investor’s or affiliates assets and the portfolio managers have no direct knowledge of the investment decisions made by the portfolio managers managing other
portions of such Investor’s or affiliates assets, the representation set forth above shall only apply with respect to the portion of assets managed by the portfolio managers that have knowledge about the financing transaction contemplated by
this Agreement. 
 (f) The Investor represents that, except as set forth below and except as set forth in any Information
Statement filed under Section 13D of the Securities Exchange Act of 1934, (i) it has had no position, office or other material relationship within the past three years with the Company or persons known to it to be affiliates of the
Company, (ii) it is not a member of the Financial Industry Regulatory Authority, Inc. (“FINRA”) or an Associated Person (as such term is defined under FINRA’s NASD Membership and Registration Rules Section 1011) as of
the date hereof and (iii) neither it nor any group of investors (as identified in a public filing made with the Commission) of which it is a member, acquired or obtained the right to acquire 20% or more of the Common Stock (or securities
convertible or exercisable for Common Stock) or voting power of the Company on a post-transaction basis. 
 (g) If the
Investor is a retirement plan or is investing on behalf of a retirement plan, the Investor acknowledges that an investment in the Shares poses additional risks, including the inability to use losses generated by an investment in the Shares to offset
taxable income. 
 (h) The Investor acknowledges that no action had been or will be taken in any jurisdiction outside the
United States by the Company that would permit an offering of the Shares, or possession or distribution of offering materials in connection with the issue of the Shares, in any jurisdiction outside the United States where action for that purpose is
required. Each Investor outside the United States will comply with all applicable laws and regulations in each foreign jurisdiction in which it purchases, offers, sells or delivers Shares or has in its possession or distributes any offering
material, in all cases at its own expense. 
 (i) The Investor acknowledges that the Company and others will rely upon the
truth and accuracy of the foregoing representations, acknowledgements and agreements and agrees that if any of the representations, warranties and acknowledgements deemed to have been made by it by its purchase of the Shares is no longer accurate,
the Investor shall promptly notify the Company. If the Investor is acquiring Shares as a fiduciary or agent for one or more investor accounts, it represents that is has sole investment discretion with respect to each such account and it has full
power to make the foregoing representations, warranties, acknowledgements and agreements on behalf of such account. 
  

	9.	 No offer by the Investor to buy Shares will be accepted and no part of the aggregate purchase price will be
delivered to the Company until the Investor has received the Statutory Prospectus and the Company has accepted such offer by countersigning a copy of this Subscription, and any such offer may be withdrawn or




  
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revoked, without obligation or commitment of any kind, at any time prior to the Company (or the Placement Agents on behalf of the Company) sending (orally, in writing or by electronic mail)
notice of its acceptance of such offer. This subscription will constitute only an indication of interest, involving no obligation or commitment of any kind, until the Statutory Prospectus has been delivered or made available to the Investor and this
subscription is accepted and countersigned by or on behalf of the Company. 

  

	10.	Notwithstanding any investigation made by any party to this Agreement, all covenants, agreements, representations and warranties made by the Company and the Investor herein will survive the execution of this Agreement,
the delivery to the Investor of the Shares being purchased and the payment therefor. The Placement Agents shall be a third party beneficiary with respect to representations, warranties and agreements of the Investor herein. 


 

	11.	At the Closing, the Investor agrees to pay, or reimburse the Company if paid, for reasonable and documented legal and accounting expenses incurred by the Company and directly related to the Offering, not to exceed
$15,000 in the aggregate. 

  

	12.	This Agreement may not be modified or amended except pursuant to an instrument in writing signed by the Company and the Investor. 

  

	13.	The headings of the various sections of this Agreement have been inserted for convenience of reference only and shall not be deemed to be part of this Agreement. 


 

	14.	In case any provision contained in this Agreement should be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein will not in any way be
affected or impaired thereby. 

  

	15.	This Agreement will be governed by, and construed in accordance with, the internal laws of the State of New York, without giving effect to the principles of conflicts of law that would require the application of the
laws of any other jurisdiction. 

  

	16.	This Agreement may be executed in counterparts, each of which will constitute an original, but all of which, when taken together, will constitute but one instrument, and will become effective when counterparts have been
signed by each party hereto and delivered to the other party. 

  

	17.	The Investor acknowledges and agrees that such Investor’s receipt of the Company’s counterpart to this Agreement shall constitute written confirmation of the Company’s agreement to sell Shares to such
Investor. No federal or state agency or authority has made any finding or determination as to the accuracy or adequacy of the Registration Statement or as to the fairness of the terms of the Offering nor any recommendation or endorsement of the
Shares. Any representation to the contrary is a criminal offense. In making an investment decision, Investors must rely on their own examination of the Company and the terms of the Offering, including the merits and risks involved.



  
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 Number of Shares:
                 
 Purchase Price Per Share: $
         
 Aggregate Purchase Price: $          

Please confirm that the foregoing correctly sets forth the agreement between us by signing in the space provided below for that purpose. 

Dated as of: June     , 2016 
  

			
	  

	INVESTOR
	By:	 	  



			
	Print Name: 	 	  



			
	Title: 	 	  


 Name in which Shares are to be registered: 

Mailing Address: 
 Taxpayer Identification Number: 

Agreed and Accepted this      day of             , 2016: 

 

					
	CASCADIAN THERAPEUTICS, INC.
		
	By:	 	  

		 	Title:	 	 Scott Myers, Chief Executive Officer


 Sales of the Shares purchased hereunder were made pursuant to a registration statement or in a transaction in which a final
prospectus would have been required to have been delivered in the absence of Rule 172 promulgated under the Securities Act. 

  
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 EXHIBIT A 

TO BE COMPLETED BY INVESTOR 

DWAC SETTLEMENT 
 Delivery by electronic
book-entry at The Depository Trust Company (“DTC”), registered in the Investor’s name and address as set forth on the signature page of the Agreement to which this Exhibit A is attached, and released by Computershare
Trust Company, N.A., the Company’s transfer agent (the “Transfer Agent”), to the Investor at the Closing. 
  

			
	Name of DTC Participant (broker-dealer at which the account or accounts to be credited with the Shares are maintained):	 	  

		
	DTC Participant Number:	 	  

		
	Name of Account at DTC Participant being credited with the Shares:	 	  

		
	Account Number at DTC Participant being credited with the Shares:	 	  


 NO LATER THAN ONE (1) BUSINESS DAY AFTER THE EXECUTION OF THE AGREEMENT TO WHICH THIS EXHIBIT A IS ATTACHED BY
THE INVESTOR AND THE COMPANY, THE INVESTOR SHALL:  
  

	 	(I)	DIRECT THE BROKER-DEALER AT WHICH THE ACCOUNT OR ACCOUNTS TO BE CREDITED WITH THE SHARES ARE MAINTAINED TO SET UP A DEPOSIT/WITHDRAWAL AT CUSTODIAN (“DWAC”) ON THE CLOSING DATE INSTRUCTING THE TRANSFER
AGENT TO CREDIT SUCH ACCOUNT OR ACCOUNTS WITH THE SHARES, AND 

  

	 	(II)	REMIT BY WIRE TRANSFER THE AMOUNT OF FUNDS EQUAL TO THE AGGREGATE PURCHASE PRICE FOR THE SHARES BEING PURCHASED BY THE INVESTOR TO THE FOLLOWING ACCOUNT: 


  
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