CAMBRIDGE, Mass., July 13, 2017 /PRNewswire/ -- Akcea
Therapeutics, Inc. today announced the pricing of its initial
public offering of 15,625,000 shares common stock at a public
offering price of $8.00 per share,
for gross proceeds of $125.0 million
before underwriting discounts and commissions and offering expenses
to be paid by Akcea. In addition, Akcea has granted the
underwriters a 30-day option to purchase up to 2,343,750 additional
shares of common stock at the public offering price, less
underwriting discount and commissions, to cover over-allotments, if
any. Akcea's shares are expected to begin trading on the
NASDAQ Global Select Market on July 14,
2017 under the symbol "AKCA." The offering is expected
to close on July 19, 2017, subject to
customary closing conditions.
In addition, Novartis Pharma AG has agreed to purchase
$50.0 million of Akcea's common stock
in a separate private placement concurrent with the completion of
Akcea's initial public offering at a price per share equal to the
initial public offering price. The closing of the initial public
offering is not conditioned upon the closing of the concurrent
private placement.
Cowen, Stifel and Wells Fargo Securities are acting as joint
book running managers for the offering. BMO Capital Markets
is acting as lead manager for the offering.
A registration statement relating to these securities has been
filed with the U.S. Securities and Exchange Commission and became
effective on July 13, 2017.
Copies of the registration statement can be accessed by visiting
the U.S. Securities and Exchange Commission website at
www.sec.gov.
The offering is being made only by means of a prospectus.
A preliminary prospectus describing the terms of the offering
has been filed with the U.S. Securities and Exchange Commission and
forms a part of the effective registration statement. A copy
of the final prospectus relating to the offering will be filed with
the U.S. Securities and Exchange Commission and may be obtained,
when available, from Cowen and Company, LLC, c/o Broadridge
Financial Services, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus
Department, or by telephone at (631) 274-2806; or from Stifel,
Nicolaus & Company, Incorporated, One
Montgomery Street, Suite 3700, San
Francisco, CA 94104, or by telephone at (415) 364-2720, or
by email at syndprospectus@stifel.com; or from Wells Fargo
Securities, LLC, Attention: Equity Syndicate Department, 375 Park
Avenue, New York, NY 10152, or by
telephone at (800) 326-5897, or by email at
cmclientsupport@wellsfargo.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, 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 securities laws of any such state or
jurisdiction.
ABOUT AKCEA THERAPEUTICS
Akcea Therapeutics is a
late-stage pharmaceutical company focused on developing and
commercializing drugs to treat patients with serious
cardiometabolic diseases caused by lipid disorders. Akcea is
advancing a mature pipeline of four novel drugs with the potential
to treat multiple diseases, including volanesorsen,
AKCEA-APO(a)-LRx, AKCEA-ANGPTL3-LRx and
AKCEA-APOCIII-LRx, which are all based on antisense
technology developed by Ionis Pharmaceuticals, Inc. The most
advanced drug in its pipeline, volanesorsen, has successfully
completed a Phase 3 clinical program for the treatment of familial
chylomicronemia syndrome, or FCS, and is currently in Phase 3
clinical development for the treatment of familial partial
lipodystrophy, or FPL. Akcea is assembling the infrastructure to
commercialize its drugs globally with a focus on lipid specialists
as the primary call point. Akcea is a subsidiary of Ionis
Pharmaceuticals, Inc. and is located in Cambridge, Massachusetts.
FORWARD-LOOKING STATEMENT
This press release includes
forward-looking statements regarding Akcea's financing plans,
including statements related to the closing of Akcea's offering of
common stock. Any statement describing Akcea's goals, expectations,
financial or other projections, intentions or beliefs is a
forward-looking statement and should be considered an at-risk
statement. Such statements are subject to certain risks and
uncertainties, particularly those inherent in the process of
discovering, developing and commercializing drugs that are safe and
effective for use as human therapeutics, and in the endeavor of
building a business around such drugs. Akcea's forward-looking
statements also involve assumptions that, if they never materialize
or prove correct, could cause its results to differ materially from
those expressed or implied by such forward-looking statements.
Although Akcea's forward-looking statements reflect the good faith
judgment of its management, these statements are based only on
facts and factors currently known by Akcea. As a result, you are
cautioned not to rely on these forward-looking statements. These
and other risks concerning Akcea's programs are described in
additional detail in its registration statement on Form S-1, which
is on file with the SEC.
In this press release, unless the context requires otherwise,
"Ionis", "Akcea," "Company," "Companies" "we," "our," and "us"
refers to Akcea Therapeutics and/or Ionis Pharmaceuticals.
Akcea Therapeutics™ is a trademark of Ionis Pharmaceuticals,
Inc. Ionis Pharmaceuticals™ is a trademark of Ionis
Pharmaceuticals, Inc.
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SOURCE Akcea Therapeutics, Inc.