Hot Features
Premium
Register for real-time alerts, custom portfolio, and market movers
++BREAKING NEWS++
Agios Pharmaceuticals, Inc. (Nasdaq:AGIO) today announced that it is offering to sell, subject to market and other conditions, up to $175 million 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 $26.3 million of shares. All of the shares in the offering are to be sold by Agios. The proceeds of the offering are expected to be used to fund the company’s clinical and research development activities. 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 and Leerink Partners LLC are serving as co-managers.
The shares are being offered by Agios pursuant to an automatically effective shelf registration statement that has been filed with the Securities and Exchange Commission (SEC). A preliminary prospectus supplement relating to and describing the terms of the offering will be filed with the SEC.
In a statement the company said “Agios Pharmaceuticals is focused on discovering and developing novel drugs to treat cancer and rare genetic disorders, which are a subset of orphan genetic metabolic diseases, through scientific leadership in the field of cellular metabolism. In addition to an active research and discovery pipeline across both therapeutic areas, Agios has multiple first-in-class lead investigational medicines in cancer metabolism and rare genetic disorders in clinical development.”
