AVEO Pharmaceuticals, Inc. Announces Proposed Public Offering
April 03 2019 - 4:01PM
Business Wire
AVEO Pharmaceuticals, Inc. (Nasdaq: AVEO) (“AVEO” or the
“Company”), a biopharmaceutical company seeking to advance targeted
medicines for oncology and other unmet medical needs, today
announced it has commenced an underwritten public offering of its
shares of common stock, together with warrants to purchase shares
of common stock. The Company intends to grant the underwriters of
the offering a 30-day option to purchase up to an additional 15% of
the number of shares of common stock and/or warrants to be sold in
the offering at the public offering price, less underwriting
discounts and commissions. The proposed offering is subject to
market and other conditions, and there can be no assurance as to
whether or when the offering may be completed, or as to the actual
size or terms of the offering.
H.C. Wainwright & Co. is acting as sole book-running manager
for the offering.
The Company intends to use the net proceeds from the offering
for ongoing clinical and preclinical development of its product
candidates, as well as for working capital and other general
corporate purposes.
The securities described above are being offered by the Company
pursuant to a "shelf" registration statement on Form S-3 (File No.
333-221837) previously filed with and declared effective by the
Securities and Exchange Commission (“SEC”) on December 15, 2017. A
preliminary prospectus supplement and an accompanying prospectus
relating to the offering will be filed with the SEC and will be
available on the SEC’s website at www.sec.gov. Electronic copies of
the preliminary prospectus supplement and the accompanying
prospectus relating to the offering may be obtained, when
available, from H.C. Wainwright & Co., LLC, 430 Park Avenue,
3rd Floor, New York, NY 10022, or by calling (646) 975-6996 or by
emailing placements@hcwco.com.
Before investing in the offering, you should read in their
entirety the preliminary prospectus supplement and the accompanying
prospectus to be filed with the SEC, and the other documents that
the Company has filed with the SEC that will be incorporated by
reference in the preliminary prospectus supplement and the
accompanying prospectus, which will provide more information about
the Company and the offering.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the Company’s 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
securities laws of any such state or jurisdiction.
About AVEO
AVEO Pharmaceuticals, Inc. (the “Company” or “AVEO”) is a
biopharmaceutical company seeking to advance targeted medicines for
oncology and other unmet medical needs. The Company is working to
develop and commercialize its lead candidate tivozanib in North
America as a treatment for advanced or metastatic renal cell
carcinoma (“RCC”). The Company has sublicensed tivozanib (FOTIVDA®)
for oncological indications in Europe and other territories outside
of North America. Tivozanib is approved in the European Union, as
well as Norway and Iceland, for the first-line treatment of adult
patients with RCC and for adult patients who are vascular
endothelial growth factor receptor and mTOR pathway inhibitor-naïve
following disease progression after one prior treatment with
cytokine therapy for RCC. The Company also has other product
candidates in pre-clinical or clinical development for oncology,
age-related macular degeneration and cancer cachexia.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that
involve substantial risks and uncertainties. All statements, other
than statements of historical fact, contained in this press release
are forward-looking statements. The words “anticipate,” “believe,”
“estimate,” “expect,” “intend,” “may,” “plan,” “potential,”
“could,” “should,” “would,” “seek,” “look forward,” “advance,”
“goal,” “strategy,” or the negative of these terms or other similar
expressions, are intended to identify forward-looking statements,
although not all forward-looking statements contain these
identifying words. These forward-looking statements include, among
others, statements relating to AVEO’s plans to consummate its
proposed public offering and the intended use of proceeds
therefrom. Actual results may differ materially from those
projected or implied in these forward-looking statements. Factors
that may cause such a difference include, without limitation, risks
and uncertainties related to whether or not AVEO will be able to
raise capital through the sale of its securities, the final terms
of the proposed offering, market and other conditions, the
satisfaction of customary closing conditions related to the
proposed public offering and the impact of general economic,
industry or political conditions in the United States or
internationally. There can be no assurance that AVEO will be able
to complete the proposed public offering on the anticipated terms,
or at all. You should not place undue reliance on these
forward-looking statements. Additional risks and uncertainties
relating to the proposed offering, AVEO and its business can be
found under the caption “Risk Factors” included in AVEO’s Annual
Report on Form 10-K for the period ended December 31, 2018, AVEO’s
preliminary prospectus supplement to be filed with the SEC on April
3, 2019, and other filings that AVEO may make with the SEC in the
future. Any forward-looking statements contained in this press
release speak only as of the date hereof, and AVEO expressly
disclaims any obligation to update any forward-looking statements,
whether as a result of new information, future events or
otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20190403005832/en/
AVEO:David Pitts, Argot Partners(212)
600-1902aveo@argotpartners.com
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