Abeona Therapeutics Announces Pricing of Public Offering of Common Stock
October 16 2017 - 9:45PM
Abeona Therapeutics Inc. (Nasdaq:ABEO), a leading clinical-stage
biopharmaceutical company focused on developing novel gene and cell
therapies for life-threatening rare diseases, today announced the
pricing of an underwritten public offering of five million shares
of common stock at a public offering price of $16.00 per share. The
gross offering size for this offering is expected to be
approximately $80 million, before deducting the underwriting
discounts and commissions and estimated offering expenses payable
by the Company. The Company has granted to the underwriters
participating in the offering a 30-day option to purchase up to an
additional 750,000 shares of common stock. The offering is expected
to close on or about October 19, 2017, subject to customary closing
conditions.
Abeona intends to use the net proceeds of the
offering for working capital and corporate purposes, including,
without limitation, development of its product candidates,
manufacturing and general and administrative expenses.
Jefferies LLC is acting as lead
book-running manager for the offering and RBC Capital Markets as
joint book runner. Cantor Fitzgerald & Co. is acting as
lead manager. FBR Capital Markets & Co., H.C.
Wainwright & Co., JonesTrading Institutional Services LLC and
Maxim Group LLC are acting as co-managers for the offering.
The securities described above are being offered
pursuant to a shelf registration statement on Form S-3 (File No.
333-205128) that was filed with the Securities and Exchange
Commission (the "SEC") on June 22, 2015 and that was
declared effective by the SEC on July 23, 2015. The
offering will be made only by means of the written prospectus and
prospectus supplement that form a part of the registration
statement. The preliminary prospectus supplement and the
accompanying prospectus supplement that form a part of the
registration statement has been filed with the SEC and is
available on the SEC's website at www.sec.gov.
Copies of the preliminary prospectus supplement and the
accompanying prospectus may also be obtained by request
at Jefferies, Attention Equity Syndicate Prospectus
Department, 520 Madison Avenue, 2nd Floor, New York,
NY 10022, via telephone at (877) 821-7388, or email
at: Prospectus_Department@Jefferies.com.
The securities described above have not been
qualified under any state blue sky laws. This press release does
not constitute an offer to sell or the solicitation of offers to
buy any securities of Abeona being offered, and shall not
constitute an offer, solicitation or sale of any security 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 Abeona: Abeona Therapeutics Inc. is a
clinical-stage biopharmaceutical company developing gene therapies
for life-threatening rare genetic diseases. Abeona's lead programs
include ABO-102 (AAV-SGSH), an adeno-associated virus (AAV) based
gene therapy for Sanfilippo syndrome type A (MPS IIIA) and EB-101
(gene-corrected skin grafts) for recessive dystrophic epidermolysis
bullosa (RDEB). Abeona is also developing ABO-101 (AAV-NAGLU)
for Sanfilippo syndrome type B (MPS IIIB), ABO-201 (AAV-CLN3) gene
therapy for juvenile Batten disease (JNCL), ABO-202 (AAV-CLN1) for
treatment of infantile Batten disease (INCL), EB-201 for
epidermolysis bullosa (EB), ABO-301 (AAV-FANCC) for Fanconi anemia
(FA) disorder and ABO-302 using a novel CRISPR/Cas9-based gene
editing approach to gene therapy for rare blood diseases. In
addition, Abeona has a proprietary vector platform, AIM™, for next
generation product candidates.
Investor Contact: Christine Silverstein Vice
President, Investor Relations Abeona Therapeutics Inc. +1
(212)786-6212 csilverstein@abeonatherapeutics.com
Media Contact: Lynn Granito Berry & Company
Public Relations +1 (212) 253-8881
lgranito@berrypr.com
This press release contains certain statements
that are forward-looking within the meaning of Section 27a of the
Securities Act of 1933, as amended, and that involve risks and
uncertainties. These statements include, without limitation,
statements regarding our anticipated offering, anticipated use of
proceeds and plans and prospects for Abeona, and other statements
including the words “may,” will,” “anticipate,” “believe,”
“estimate,” expect,” “intend,” and similar expressions (as well as
other words or expressions referencing future events, conditions or
circumstances), which constitute and are intended to identify
forward-looking statements. Actual results may differ
materially from those indicated by such forward-looking statements
as a result of various important factors, including: the
uncertainties related to market conditions and the completion of
the public offering on the anticipated terms, or at all,
continued interest in our rare disease portfolio, the ability
to develop our product candidates and technologies, the impact of
changes in the financial markets and global economic
conditions, and other risks as are set forth in the Company's
Annual Report on Form 10-K and other reports filed by the Company
with the Securities and Exchange Commission. The Company undertakes
no obligations to make any revisions to the forward-looking
statements contained in this release or to update them to reflect
events or circumstances occurring after the date of this release,
whether as a result of new information, future developments or
otherwise.
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