Applied Therapeutics, Inc. Announces Pricing of $30 Million Public Offering of Common Stock and Warrants
23 Giugno 2022 - 4:12AM
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 20.0 million shares of its
common stock, par value $0.0001 per share, 10.0 million pre-funded
warrants to purchase common stock in lieu of common stock to
certain investors, and accompanying warrants (“common warrants”) to
purchase up to 30.0 million shares of its common stock. Each share
of common stock and accompanying common warrant are being offered
at a combined public offering price of $1.00, less underwriting
discounts and commissions, and each pre-funded warrant and
accompanying common warrant are being offered at a combined public
offering price of $0.9999, less underwriting discounts and
commissions. The pre-funded warrants have an exercise price of
$0.0001 per share and the common warrants have an exercise price of
$1.00 per share. The pre-funded warrants and the common warrants
are immediately exercisable and will expire five years from the
date of issuance. The gross proceeds to the Company from the
offering, before deducting the underwriting discounts and
commissions and offering expenses payable by the Company, are
expected to be $30 million.
The Company intends to use the net proceeds from this offering
for general corporate purposes. General corporate purposes may
include research and development costs, including the conduct of
clinical trials and process development and manufacturing of the
Company’s product candidates, expansion of the Company’s research
and development capabilities, working capital and capital
expenditures.
SVB Securities is acting as the sole book-running manager for
the offering. The offering is expected to close on June 27, 2022,
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 SVB Securities LLC,
Attention: Syndicate Department, 53 State Street, 40th Floor,
Boston, MA 02109, by telephone at 1-800-808-7525, ext. 6105, or by
email at syndicate@svbsecurities.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 CNS rare
metabolic diseases, including Galactosemia, SORD Deficiency, and
PMM2-CDG. The Company is also developing AT-001, a novel potent
ARI, for the treatment of Diabetic Cardiomyopathy, or DbCM, a fatal
fibrosis of the heart. 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, 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.
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,
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:media@appliedtherapeutics.com
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