Agios Announces Pricing of $256 Million Public Offering of Common Stock
November 07 2019 - 9:17PM
Agios Pharmaceuticals, Inc. (Nasdaq: AGIO) today announced that it
has priced an underwritten public offering of 8,250,000 shares of
common stock at a price to the public of $31.00 per share, before
underwriting discounts, which would result in aggregate gross
proceeds of approximately $256 million. All of the shares in the
offering are to be sold by Agios. Agios has also granted the
underwriters a 30-day option to purchase up to 1,237,500 shares of
common stock sold in the public offering on the same terms and
conditions. Closing of the offering is expected to occur on or
November 12, 2019, subject to customary closing conditions.
J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC and
Cowen and Company, LLC are acting as joint book-running managers
for the offering.
The shares are being offered by Agios pursuant to an
automatically effective shelf registration statement that has been
filed with the Securities and Exchange Commission (“SEC”). The
offering is being made only by means of a prospectus and prospectus
supplement that form a part of the registration statement. A
preliminary prospectus supplement relating to, and describing the
terms of, the offering has been filed with the SEC and is available
on the SEC’s web site at www.sec.gov.
The final prospectus supplement relating to the offering will be
filed with the SEC. Copies of the final prospectus supplement and
the accompanying prospectus relating to this offering, when
available, can be obtained from J.P. Morgan Securities LLC, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
New York 11717, telephone: 866-803-9204; Goldman Sachs & Co.
LLC, Attn: Prospectus Department, 200 West Street, New York, New
York 10282, telephone: 866-471-2526, facsimile: 212-902-9316,
e-mail: prospectus-ny@ny.email.gs.com; or Cowen and Company, LLC,
c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY, 11717, Attn: Prospectus Department, by email at
PostSaleManualRequests@broadridge.com, or by telephone at (833)
297-2926.
This press release does 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 Agios Pharmaceuticals, Inc.
Agios is focused on discovering and developing novel
investigational medicines to treat cancer and rare genetic diseases
through scientific leadership in the field of cellular metabolism
and adjacent areas of biology. In addition to an active research
and discovery pipeline across both therapeutic areas, Agios has two
approved oncology precision medicines and multiple first-in-class
investigational therapies in clinical and/or preclinical
development. All Agios programs focus on genetically identified
patient populations, leveraging our knowledge of metabolism,
biology and genomics.
Cautionary Note Regarding Forward Looking
Statements
This press release contains forward-looking statements within
the meaning of The Private Securities Litigation Reform Act of
1995, such as those, among others, relating to the anticipated
closing date of the public offering. The words “anticipate,”
“believe,” “estimate,” “expect,” “intend,” “may,” “plan,”
“predict,” “project,” “would,” “could,” “potential,” “possible,”
“hope” and similar expressions are intended to identify
forward-looking statements, although not all forward-looking
statements contain these identifying words. 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 the satisfaction of customary closing conditions related
to the public offering and the impact of general economic, industry
or political conditions in the United States or internationally.
You should not place undue reliance on these forward-looking
statements. Additional risks and uncertainties relating to the
proposed offering, Agios and its business can be found under the
caption “Risk Factors” included in Agios’ Quarterly Report on Form
10-Q for the quarter ended September 30, 2019, Agios’ preliminary
prospectus supplement filed with the SEC on November 6, 2019, and
other filings that Agios 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 Agios expressly disclaims any
obligation to update any forward-looking statements, whether as a
result of new information, future events or otherwise.
Investor & Media Contact: Holly Manning,
617-844-6630 Associate Director, Investor
RelationsHolly.Manning@agios.com
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