Date: 2017-04-28
Type of information: Private placement
Company: Agios Pharmaceuticals (USA - MA)
Investors:
Amount: $287 million
Funding type: private placement
Planned used:
- The proceeds of the offering are expected to be used to fund Agios Pharmaceuticals' research, clinical development and pre-commercial activities. The company has recently announced that it is evolving into a commercial stage company. By the end of 2017, the company expects to achieve the approval of enasidenib in the United States for IDH2m positive relapsed or refractory acute myeloid leukemia (AML) in collaboration with Celgene. Agios also intends to submit a new drug application (NDA) to the FDA for AG-120 for IDH1m positive relapsed or refractory acute myeloid leukemia by the end of 2017. The company is finalizing design and operational activities for a global pivotal trial of AG-348 to initiate in the first half of 2018. AG-348 is a wholly owned, first-in-class, oral activator of both wild-type (normal) and mutated pyruvate kinase-R (PKR) enzymes, in PK deficiency.
Others:
- • On April 28, 2017, Agios Pharmaceuticals announced that it has issued an additional 757,575 shares of common stock at the public offering price of $49.50 per share, for total gross proceeds of approximately $37 million, pursuant to the exercise in full of the underwriters’ over-allotment option in connection with the company’s previously announced public offering of common stock. After giving effect to the full exercise of the over-allotment option, the total number of shares sold by Agios in the public offering was 5,808,080 shares and gross proceeds were approximately $287 million.
- • On April 26, 2017, Agios Pharmaceuticals announced that the underwriters of its previously announced public offering of common stock have fully exercised their option to purchase an additional 757,575 shares at the public offering price of $49.50 per share, resulting in additional gross proceeds of approximately $37 million. After giving effect to the full exercise of the over-allotment option, the total number of shares sold by Agios in the public offering increased to 5,808,080 shares and gross proceeds increased to approximately $287 million. The exercise of the over-allotment option is expected to close on April 28, 2017, subject to customary closing conditions.
- • On April 24, 2017, Agios Pharmaceuticals announced the closing of its underwritten public offering of 5,050,505 shares common stock at the public offering price of $49.50 per share, resulting in gross proceeds of approximately $250 million. The underwriters have until May 18, 2017 to exercise their option to purchase from Agios up to an additional 15% of the shares of common stock offered in the public offering on the same terms and conditions.
- • On April 18, 2017, Agios Pharmaceuticals announced that it has priced an underwritten a public offering of 5,050,505 shares of common stock at a price to the public of $49.50 per share, before underwriting discounts, which would result in aggregate gross proceeds of approximately $250 million. All of the shares in the offering are to be sold by Agios. Agios has also granted the underwriters a 30-day option to purchase from it up to an additional 15% of the shares of common stock offered in the public offering on the same terms and conditions. Closing of the offering is expected to occur on or about April 24, 2017, subject to customary closing conditions
- • On April 17, 2017, Agios Pharmaceuticals announced that it is offering to sell, subject to market and other conditions, up to 4.5 million shares of its common stock in an underwritten public offering. Agios also intends to grant the underwriters a 30-day option to purchase from it up to an additional 15% of the shares of common stock offered in the public offering. All of the shares in the offering are to be sold by Agios. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed. J.P. Morgan Securities LLC and Goldman, Sachs & Co. are acting as joint book-running managers for the offering. Cowen and Company, LLC is serving as lead manager.
Therapeutic area: Cancer - Oncology - Genetic diseases - Metabolic diseases
Is general: Yes
