Amryt Pharma PLC Exercise of Warrants & Issue of Ordinary Shares (7076X)

TIDMAMYT

RNS Number : 7076X

Amryt Pharma PLC

20 December 2019

 
 20 December 2019 
  AIM: AMYT 
  Euronext Growth: AYP 
 

AMRYT PHARMA PLC

("Amryt" or the "Company")

Exercise of Warrants & Issue of Ordinary Shares: Total Voting Rights

Amryt, a biopharmaceutical company focused on developing and delivering innovative new treatments to help improve the lives of patients with rare and orphan diseases, announces that, on 19 December 2019, an institutional investor exercised subscription rights relating to 1,645,105 zero cost warrants (the "Warrants").

In order to satisfy the exercise of the Warrants, the Company today issued 1,645,105 ordinary shares of GBP0.06 each (the "New Ordinary Shares") to the institutional investor.

Applications will be made to the London Stock Exchange and Euronext Dublin for the New Ordinary Shares to be admitted to trading on AIM and Euronext Growth, respectively. It is expected that admission to trading on AIM and Euronext Dublin of the New Ordinary Shares will become effective in accordance with the AIM Rules and the Euronext Growth Rules, respectively, and that dealings in the New Ordinary Shares will commence at 8.00 a.m. on 27 December 2019.

The issued share capital of the Company now comprises 159,363,543 ordinary shares of GBP0.06 each (the "Ordinary Shares"). Following the exercise of the Warrants referred to above, the Company holds 4,864,656 Ordinary Shares in treasury. Therefore, the total number of voting rights in the Company is 154,498,887. This figure may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules. The Company will also have in issue 17,196,273 zero cost warrants.

Enquiries:

 
 Amryt Pharma plc                              [phone] 
 Joe Wiley, CEO 
  Rory Nealon, CFO/COO 
 Shore Capital                                 [phone] 
 NOMAD and Joint Broker 
 Edward Mansfield, Mark Percy, Daniel Bush, 
  John More 
 
   Stifel                                      [phone] 
 Joint Broker 
 Jonathan Senior, Ben Maddison 
 
   Davy                                        [phone] 
 ESM Adviser and Joint Broker 
 John Frain, Daragh O'Reilly 
 
   Consilium Strategic Communications          [phone] 
 Amber Fennell, Matthew Neal, Nicholas 
  Brown 
 
   LifeSci Advisors, LLC                       [phone] 
 Tim McCarthy 
 

About Amryt

Amryt is a biopharmaceutical company focused on developing and delivering innovative new treatments to help improve the lives of patients with rare and orphan diseases. Amryt comprises a strong and growing portfolio of commercial and development assets.

Amryt's commercial business comprises two orphan disease products.

Juxtapid(R)/ Lojuxta(R) (lomitapide) is approved as an adjunct to a low-fat diet and other lipid-lowering medicinal products for adults with the rare cholesterol disorder, Homozygous Familial Hypercholesterolaemia ("HoFH") in the US, Canada, Columbia, Argentina and Japan (under the trade name, Juxtapid(R)) and in the EU (under the trade name, Lojuxta(R)). HoFH is a rare genetic disorder which impairs the body's ability to remove low density lipoprotein ("LDL") cholesterol ("bad" cholesterol) from the blood, typically leading to abnormally high blood LDL cholesterol levels in the body from before birth - often ten times more than people without HoFH - and subsequent aggressive and premature cardiovascular disease.

Myalept(R) / Myalepta(R) (metreleptin) is approved in the US (under the trade name, Myalept(R)) as an adjunct to diet as replacement therapy to treat the complications of leptin deficiency in patients with congenital or acquired generalized lipodystrophy (GL) and in the EU (under the trade name, Myalepta(R)) for the treatment of leptin deficiency in patients with congenital or acquired GL in adults and children two years of age and above and familial or acquired partial lipodystrophy (PL) in adults and children 12 or over for whom standard treatments have failed to achieve adequate metabolic control. Metreleptin is also approved for lipodystrophy in Japan. Generalised and partial lipodystrophy are rare disorders characterised by loss or lack of adipose tissue resulting in the deficiency of the hormone leptin, produced by fat cells and are associated with severe metabolic abnormalities including severe insulin resistance, diabetes, hypertriglyceridemia and fatty liver disease.

Amryt's lead development candidate, AP101 (Oleogel-S10), is a potential treatment for the cutaneous manifestations of Epidermolysis Bullosa ("EB"), a rare and distressing genetic skin disorder affecting young children and adults for which there is currently no approved treatment. It is currently being studied in a Phase 3 clinical trial and recently reported that unblinded interim efficacy data supported continuation of the study with a modest increase in sample size and unblinded interim safety data allowed the inclusion of children from as young as 21 days old. AP101 has been granted FDA Pediatric Rare Disease Designation and has also received a Fast Track Designation from the FDA. The European and US market opportunity for EB is estimated by the Directors to be in excess of $1 billion.

In March 2018, Amryt in-licenced a pre-clinical gene-therapy platform technology, AP103, which offers a potential treatment for patients with Recessive Dystrophic Epidermolysis Bullosa, a subset of EB, and is also potentially relevant to other genetic disorders.

For more information on Amryt, including products, please visit www.amrytpharma.com

This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014

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December 20, 2019 09:40 ET (14:40 GMT)