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Aeglea BioTherapeutics Announces Pricing of $60.0 Million Public Offering
AUSTIN, Texas, Feb. 06, 2019 (GLOBE NEWSWIRE) -- Aeglea BioTherapeutics, Inc., (Nasdaq:AGLE) a clinical-stage biotechnology company that designs and develops innovative human enzyme therapeutics for patients with rare genetic diseases and cancer, today announced the pricing of an underwritten public offering of 3,750,000 shares of its common stock at a price to the public of $8.00 per share. In addition, and in lieu of common stock, Aeglea is offering to certain investors pre-funded warrants to purchase up to an aggregate of 3,750,000 shares of common stock at a purchase price of $7.9999 per warrant, which represents the per share public offering price for the common stock less the $0.0001 per share exercise price for each such pre-funded warrant. The aggregate gross proceeds from this offering are expected to be approximately $60.0 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Aeglea. The offering is expected to close on or about February 8, 2019, subject to customary closing conditions. Aeglea has also granted the underwriters a 30-day option to purchase up to an additional 1,125,000 shares of common stock in connection with the public offering. All of the securities are being offered by Aeglea.
J.P. Morgan Securities LLC and Evercore Group L.L.C. are acting as joint book-running managers in the offering. H.C. Wainwright & Co., LLC is acting as lead manager in the offering.
Aeglea intends to use the net proceeds from the offering, together with its existing cash resources, to advance the clinical development of pegzilarginase through its Phase 3 pivotal and extension trials in Arginase 1 Deficiency and an ongoing combination trial in cancer, and the remainder to fund continued investigational new drug (IND) enabling activities of pipeline programs, research and development, manufacturing, initial commercialization infrastructure and for working capital and general corporate purposes.
The securities described above are being offered by Aeglea pursuant to a registration statement on Form S-3 previously filed and declared effective by the Securities and Exchange Commission (SEC). A preliminary prospectus supplement and accompanying base prospectus relating to and describing the terms of the offering have been filed with the SEC and is available on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus supplement and accompanying base prospectus, and when available, the final prospectus supplement and accompanying base prospectus may also be obtained from J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (866) 803-9204; or Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 36th Floor, New York, NY 10055, by telephone at (888) 474-0200, or by e-mail at: firstname.lastname@example.org.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of Aeglea, 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 Aeglea BioTherapeutics
Aeglea is a clinical-stage biotechnology company that designs and develops innovative human enzyme therapeutics for patients with rare genetic diseases and cancer. The company is developing pegzilarginase, its lead investigational therapy, for the treatment of Arginase 1 Deficiency, as monotherapy in arginine-dependent cancers and in combination with an immune checkpoint inhibitor for small cell lung cancer. In addition, Aeglea has an active research pipeline of other human enzyme-based approaches in both therapeutic areas.
Safe Harbor / Forward Looking Statements
This press release contains "forward-looking" statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. These statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from what we expect. Examples of forward-looking statements include, among others, statements we make regarding our intention to conduct an offering and sale of securities, ability to complete the offering and expected use of proceeds. Further information on potential risk factors that could affect our business and its financial results are detailed in our most recent Quarterly Report on Form 10-Q for the quarter ended September 30, 2018 filed with the Securities and Exchange Commission (SEC), and other reports as filed with the SEC. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
Sharon Merrill Associates
Director, Finance & Investor Relations