Applied Therapeutics, Inc. Announces Upsizing and Pricing of Public Offering of 2,741,489 Shares of Common Stock
24 Gennaio 2020 - 3:28AM
Applied Therapeutics, Inc. (NASDAQ: APLT) (the “Company”), a
clinical-stage biopharmaceutical company developing a pipeline of
novel drug candidates against validated molecular targets in
indications of high unmet medical need, today announced the pricing
of its public offering of 2,741,489 shares of its common stock, par
value $0.0001 per share, at a price to the public of $45.50 per
share. The gross proceeds to the Company from the offering, before
deducting the underwriting discounts and commissions and estimated
offering expenses payable by the Company, are expected to be
approximately $124.7 million. In addition, the Company has
granted the underwriters a 30-day option to purchase up to an
additional 411,223 shares of common stock at the price to the
public, less underwriting discounts and commissions. The offering
was upsized from the previously announced offering size of
1,750,000 shares of common stock.
The Company intends to use the net proceeds from this offering,
together with its existing cash and cash equivalents, to advance
AT-007 for the treatment of Galactosemia including pre-launch
activities and preparing for a potential commercial launch, to fund
clinical development of AT-001 for treatment of Diabetic
Cardiomyopathy as well as pre-launch activities, to advance AT-003
for the treatment of diabetic retinopathy through a planned Phase 1
clinical trial; to further develop its pipeline, including other
candidates, formulations and derivatives, and to fund other
research and development activities, working capital and other
general corporate purposes.
Goldman Sachs & Co. LLC, Cowen, Barclays and UBS Investment
Bank are acting as joint book-running managers for the offering.
The offering is expected to close on January 28, 2020, subject to
customary closing conditions.
The offering is being made only by means of a prospectus. A
registration statement on Form S-1, including a prospectus,
relating to the offering has been filed with the U.S. Securities
and Exchange Commission on January 21, 2020 and was declared
effective on January 23, 2020. Copies of the final prospectus
related to the offering may be obtained, when available, from
Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West
Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile:
212-902-9316 or by emailing Prospectus-ny@ny.email.gs.com; Cowen
and Company, LLC, c/o Broadridge Financial Services, 1155
Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus
Department, or by telephone at (833) 297-2926; Barclays Capital
Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, by telephone at (888) 603-5847 or by email at
Barclaysprospectus@broadridge.com; or UBS Securities LLC, Attn:
Prospectus Department, 1285 Avenue of the Americas, New York, NY
10019, by telephone at (888) 827-7275 or by email at
ol-prospectus-request@ubs.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state 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 Applied TherapeuticsApplied Therapeutics
is a clinical-stage biopharmaceutical company developing a pipeline
of novel drug candidates against validated molecular targets in
indications of high unmet medical need. The Company’s lead drug
candidate, AT-007, is a novel central nervous system penetrant
aldose reductase inhibitor (ARI) for the treatment of Galactosemia,
a rare pediatric metabolic disease. The Company initiated a Phase
1/2 clinical trial in June 2019 and read out positive top-line
biomarker data in adult Galactosemia patients in January of 2020.
The Company is also developing AT-001, a novel potent ARI that is
being developed for the treatment of Diabetic Cardiomyopathy, or
DbCM, a fatal fibrosis of the heart. The Company initiated a Phase
3 registrational study in DbCM in September 2019. The preclinical
pipeline also includes AT-003, an ARI designed to cross through the
back of the eye when dosed orally, for the treatment of diabetic
retinopathy, expected to advance into a Phase 1 study in 2020, as
well as novel dual PI3k inhibitors in preclinical development for
orphan oncology indications.
Forward-Looking StatementsThis press release
contains “forward-looking statements” that involve substantial
risks and uncertainties for purposes of the safe harbor provided by
the Private Securities Litigation Reform Act of 1995. Any
statements, other than statements of historical fact, included in
this press release regarding strategy, future operations,
prospects, plans and objectives of management, including words such
as “may,” “will,” “expect,” “anticipate,” “plan,” “intend,” and
similar expressions (as well as other words or expressions
referencing future events, conditions or circumstances) are
forward-looking statements. These include, without limitation,
statements regarding (i) the design, scope and results of our
clinical trials, (ii) the timing of the initiation and completion
of our clinical trials, (iii) the likelihood that data from our
clinical trials will support future development of our product
candidates, (iv) the likelihood of obtaining regulatory approval of
our product candidates and qualifying for any special designations,
such as orphan drug designation, (v) our cash runway and the timing
of our clinical development plan and (vi) our ability to complete
the offering and our related use of proceeds. Forward-looking
statements in this release involve substantial risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied by the forward-looking statements,
and we, therefore cannot assure you that our plans, intentions,
expectations or strategies will be attained or achieved. Such risks
and uncertainties include, without limitation, the uncertainties
inherent in the initiation, execution and completion of clinical
trials, in the timing of availability of trial data, in the results
of the clinical trials, in the actions of regulatory agencies, in
the commercialization and acceptance of new therapies. Factors that
may cause actual results to differ from those expressed or implied
in the forward-looking statements in this press release are
discussed in our filings with the U.S. Securities and Exchange
Commission, including the “Risk Factors” contained therein. Except
as otherwise required by law, we disclaim any intention or
obligation to update or revise any forward-looking statements,
which speak only as of the date they were made, whether as a result
of new information, future events or circumstances or
otherwise.
Contacts
Investors: Maeve Conneighton(212) 600-1902
orappliedtherapeutics@argotpartners.com
Media: Trammy Lai(917) 297-5956
ormedia@appliedtherapeutics.com
Source: Applied Therapeutics
Grafico Azioni Applied Therapeutics (NASDAQ:APLT)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Applied Therapeutics (NASDAQ:APLT)
Storico
Da Lug 2023 a Lug 2024