Apogee Therapeutics Announces IPO Of 15.625 Mln Shares To Be Priced Between $15.00 And $17.00/Share
(RTTNews) - Biotechnology company Apogee Therapeutics, Inc. revealed Monday that it will offer 15.625 million shares of its common stock in an initial public offering and expects the IPO price to be between $15.00 and $17.00 per share, according to a Form S-1 filing with the U.S. Securities and Exchange Commission.
The Waltham, Massachusetts-based company has applied to list its common stock on The Nasdaq Global Market (Nasdaq) under the symbol "APGE."
The company has granted the underwriters an option for a period of 30 days to purchase up to an additional 2,343,750 shares of its common stock.
The company estimates that its net proceeds from this offering will be approximately $228.2 million (or approximately $263.1 million if the underwriters exercise in full their option to purchase additional shares of our common stock), based on an assumed initial public offering price of? $16.00 per share.
The company intends to use the net proceeds of this offering, together with its existing cash, to fund its clinical trials, including a potential Phase 2 trial, and manufacturing of its APG777 program, fund its preclinical studies, clinical trials and manufacturing of its APG808 program, fund its preclinical studies, clinical trials and manufacturing of its APG990 program and fund its preclinical studies of its APG222 program.
It intends to use the remainder for its additional research and development activities, as well as for capital expenditures, working capital and general corporate purposes.
Malaysia Bourse May Add To Its Winnings On Thursday
Higher Open Called For Japan Stock Market
KOSPI May Reclaim 3,200-Point Level
Korea Interest Rate Decision Due On Thursday
Swiss Franc Advances Against Majors
European Stocks Close On Mixed Note
Euro Falls Amid Political Uncertainty
