REGENXBIO Announces Pricing of Public Offering of Common Stock
March 21 2017 - 9:31PM
REGENXBIO Inc. (Nasdaq:RGNX), a leading clinical-stage
biotechnology company seeking to improve lives through the curative
potential of gene therapy based on its proprietary NAV® Technology
Platform, today announced the pricing of an underwritten public
offering of 3,700,000 shares of its common stock at the price of
$20.50 per share before underwriting discounts and commissions. The
gross proceeds to REGENXBIO from the offering, before deducting the
underwriting discounts and commissions and other offering expenses
payable by REGENXBIO, are expected to be approximately $75.85
million. This offering is expected to close on March 27, 2017,
subject to customary closing conditions. Additionally, REGENXBIO
has granted the underwriters a 30-day option to purchase an
additional 555,000 shares of common stock at the public offering
price, less underwriting discounts and commissions.
Morgan Stanley, BofA Merrill Lynch and Piper Jaffray & Co.
are acting as joint book-running managers. Chardan Capital Markets,
LLC is acting as co-manager of the offering.
The securities described above are being offered by REGENXBIO
pursuant to a shelf registration statement on Form S-3 that was
declared effective by the Securities and Exchange Commission (the
“SEC”) on January 6, 2017. A preliminary prospectus supplement
relating to and describing the terms of the offering was filed with
the SEC and is available on the SEC’s web site at www.sec.gov.
Copies of the final prospectus supplement and the accompanying
prospectus relating to this offering, when available, may be
obtained from: Morgan Stanley at Attention: Prospectus Department,
180 Varick Street, 2nd Floor, New York, NY, 10014; or BofA Merrill
Lynch at NC1-004-03-43, 200 North College Street, 3rd floor,
Charlotte, NC 28255-0001, Attention: Prospectus Department or by
email at dg.prospectus_requests@baml.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy any of these securities, nor shall
there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the applicable securities
laws of such state or jurisdiction.
About REGENXBIO
REGENXBIO is a leading clinical-stage biotechnology company
seeking to improve lives through the curative potential of gene
therapy. REGENXBIO’s NAV® Technology Platform, a proprietary
adeno-associated virus (AAV) gene delivery platform, consists of
exclusive rights to more than 100 novel AAV vectors, including
AAV7, AAV8, AAV9 and AAVrh10. REGENXBIO and its third-party NAV
Technology Platform Licensees are applying the NAV Technology
Platform in the development of a broad pipeline of product
candidates in multiple therapeutic areas.
Forward-Looking Statements
This press release contains “forward-looking statements,” within
the meaning of the Private Securities Litigation Reform Act of
1995, regarding, among other things, REGENXBIO’s offering of its
common stock. Such forward-looking statements are based on current
expectations and involve inherent risks and uncertainties,
including factors that could cause actual results to differ
materially from those projected by such forward-looking statements.
All of REGENXBIO’s development timelines could be subject to
adjustment depending on recruitment rate, regulatory agency review
and other factors that could delay the initiation and completion of
clinical trials. Meaningful factors which could cause actual
results to differ include, but are not limited to, the timing of
enrollment, commencement and completion of REGENXBIO’s clinical
trials; the timing and success of preclinical studies and clinical
trials conducted by REGENXBIO and its development partners; the
ability to obtain and maintain regulatory approval of REGENXBIO’s
product candidates, and the labeling for any approved products; the
scope, progress, expansion, and costs of developing and
commercializing REGENXBIO’s product candidates; REGENXBIO’s ability
to obtain and maintain intellectual property protection for
REGENXBIO’s product candidates and technology; REGENXBIO’s growth
strategies; REGENXBIO’s competition; trends and challenges in
REGENXBIO’s business and the markets in which REGENXBIO operates;
REGENXBIO’s ability to attract or retain key personnel; the size
and growth of the potential markets for REGENXBIO’s product
candidates and the ability to serve those markets; the rate and
degree of market acceptance of any of REGENXBIO’s product
candidates; REGENXBIO’s ability to establish and maintain
development partnerships; REGENXBIO’s expenses and revenue;
regulatory developments in the United States and foreign countries;
the sufficiency of REGENXBIO’s cash resources and needs for
additional financing; and other factors discussed in the “Risk
Factors” and “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” sections of REGENXBIO’s Annual
Report on Form 10-K for the year ended December 31, 2016. In
addition to the risks described above and in REGENXBIO’s filings
with the SEC, other unknown or unpredictable factors also could
affect REGENXBIO’s results. There can be no assurance that the
actual results or developments anticipated by REGENXBIO will be
realized or, even if substantially realized, that they will have
the expected consequences to, or effects on, REGENXBIO. Therefore,
no assurance can be given that the outcomes stated in such
forward-looking statements and estimates will be achieved.
All forward-looking statements contained in this press release
are expressly qualified by the cautionary statements contained or
referred to herein. REGENXBIO cautions investors not to rely too
heavily on the forward-looking statements REGENXBIO makes or that
are made on its behalf. These forward-looking statements speak only
as of the date of this press release (unless another date is
indicated). REGENXBIO undertakes no obligation, and specifically
declines any obligation, to publicly update or revise any such
forward-looking statements, whether as a result of new information,
future events or otherwise.
CONTACT:
Investors
Heather Savelle, 646-395-3734
heather@argotpartners.com
Media
Laura Bagby, 312-448-8098
lbagby@6degreespr.com
REGENXBIO (NASDAQ:RGNX)
Historical Stock Chart
From Aug 2024 to Sep 2024
REGENXBIO (NASDAQ:RGNX)
Historical Stock Chart
From Sep 2023 to Sep 2024