Date: 2017-07-19
Type of information: IPO
Company: Akcea Therapeutics (USA - MA)
Investors:
Amount: $193.8 million
Funding type: IPO - private placement
Planned used: Akcea Therapeutics has been established in January 2015 to develop and to commercialize Ionis Pharmaceuticals' lipid drugs, IONIS-APOCIIIRx, IONIS-APO(a)Rx, IONIS-ANGPTL3Rx,and their follow-ons to treat patients with serious cardiometabolic diseases caused by lipid disorders. The company is now preparing volanesorsen commercialisation in Europe, U.S. and Canada. Akcea is anticipating a potential 2018 launch, so it is building a specialized salesforce and a comprehensive patient support program tailored to meet the needs of patients with familial chylomicronemia syndrome (FCS) and their treating physicians.
Others:
- • On July 19, 2017, Akcea Therapeutics,announced the closing of its initial public offering of 17,968,750 shares common stock at a public offering price of $8.00 per share, including 2,343,750 shares of common stock issued upon full exercise by the underwriters of their option to purchase additional shares. The gross proceeds from the offering were $143.8 million before deducting underwriting discounts and commissions and offering expenses to be paid by Akcea. Akcea's common stock is listed on the NASDAQ Global Select Market under the symbol "AKCA."
- In addition, Novartis Pharma purchased $50.0 million of Akcea's common stock in a separate private placement concurrent with the completion of Akcea's initial public offering at a price per share equal to the initial public offering price.
- • On July 13, 2017, Akcea Therapeutics announced the pricing of its initial public offering of 15,625,000 shares common stock at a public offering price of $8.00 per share, for gross proceeds of $125.0 million before underwriting discounts and commissions and offering expenses to be paid by Akcea. In addition, Akcea has granted the underwriters a 30-day option to purchase up to 2,343,750 additional shares of common stock at the public offering price, less underwriting discount and commissions, to cover over-allotments, if any. Akcea's shares are expected to begin trading on the NASDAQ Global Select Market on July 14, 2017 under the symbol "AKCA." The offering is expected to close on July 19, 2017, subject to customary closing conditions.
- In addition, Novartis Pharma AG has agreed to purchase $50.0 million of Akcea's common stock in a separate private placement concurrent with the completion of Akcea's initial public offering at a price per share equal to the initial public offering price. The closing of the initial public offering is not conditioned upon the closing of the concurrent private placement.
- • On June 20, 2017, Akcea Therapeutics announced that it has launched the proposed initial public offering of its common stock. Akcea is offering 9,620,000 shares of common stock and the underwriters will have a 30-day option to purchase up to an additional 1,443,000 shares of common stock. The initial public offering price is currently expected to be between $12.00 and $14.00 per share.
- • On March 27, 2017, Akcea Therapeutics announced that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed initial public offering of its common stock. The number of shares to be offered and the price range for the proposed offering have not been determined. Akcea has applied to list its common stock on the Nasdaq Global Market under the trading symbol "AKCA."
- Cowen and Company, Stifel and Wells Fargo Securities are acting as joint book running managers for the offering.
Therapeutic area: Cardiovascular diseases - Metabolic diseases - Rare diseases
Is general: Yes
