Applied Therapeutics, Inc. Announces Pricing of Public Offering of 3,000,000 Shares of Common Stock
12 Febbraio 2021 - 12:51AM
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 underwritten public offering of 3,000,000 shares of its
common stock, par value $0.0001 per share, at a price to the public
of $23.00 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 $69 million. The Company has granted the
underwriters a 30-day option to purchase up to 450,000 additional
shares of its common stock at the price to the public, less
underwriting discounts and commissions.
The Company intends to use the net proceeds from this offering,
together with its existing cash, to advance clinical and
preclinical development of its product candidates, prepare for
commercialization and other general corporate purposes.
Goldman Sachs & Co. LLC, Cowen and UBS Investment Bank are
acting as joint book-running managers for the offering. Baird is
acting as lead manager for the offering. The offering is expected
to close on February 17, 2021, subject to customary closing
conditions.
The offering is being made only by means of a previously filed
effective registration statement (including a base prospectus) and
a preliminary prospectus supplement. Copies of the final prospectus
supplement and the accompanying prospectus relating to the proposed
offering, when available, may be obtained 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; 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. Before you invest, you should read
the prospectus in that registration statement and other documents
the Company has filed with the SEC for more complete information
about the Company and the proposed offering.
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 pivotal
Phase 1/2 clinical trial in June 2019, read out positive top-line
biomarker data in adult Galactosemia patients in January 2020 and
announced full data from the trial in April 2020. A pediatric
Galactosemia study commenced in June 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, as well as
novel dual PI3k inhibitors in preclinical development for orphan
oncology indications.
Forward-Looking StatementsThis press release
contains forward-looking statements, including, but not limited to,
statements regarding the Company’s anticipated use of the net
proceeds from the offering and other statements regarding the
offering. All statements contained in this press release other than
historical information are forward-looking statements that involve
known and unknown risks and relate to future events, our future
financial performance or our projected business results. In some
cases, you can identify forward-looking statements by terminology
such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,”
“believes,” “estimates,” “predicts,” “projects,” “targets,”
“potential” or “continue” or the negative of these terms or other
comparable terminology. Such forward-looking statements are
necessarily estimates based upon current information and involve a
number of risks and uncertainties. Actual events or results may
differ materially from the results anticipated in these
forward-looking statements as a result of a variety of factors.
All forward-looking statements speak only as of the date on
which it is made. When considering forward-looking statements, you
should keep in mind the risk factors and other cautionary
statements included in our annual, quarterly and other reports we
file with the SEC. We undertake no duty to update these
forward-looking statements, even though our situation may change in
the future. Furthermore, we cannot guarantee future results,
events, levels of activity, performance, projections or
achievements.
Contacts
Investors:
Maeve Conneighton(212) 600-1902
orappliedtherapeutics@argotpartners.com
Media:
Gleb Sagitovmedia@appliedtherapeutics.com
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