Aptinyx Announces Pricing of Public Offering of Common Stock
January 10 2020 - 9:00AM
Aptinyx Inc. (NASDAQ:APTX), a clinical-stage biopharmaceutical
company developing transformative therapies for the treatment of
brain and nervous system disorders, today announced the pricing of
its public offering of 10,166,666 shares of its common stock at a
public offering price of $3.00 per share. All of the shares sold in
the offering will be sold by Aptinyx. In addition, Aptinyx has
granted the underwriters a 30-day option to purchase up to
1,525,000 additional shares of common stock at the public offering
price, less underwriting discounts and commissions.
The gross proceeds from the offering, before deducting
underwriting discounts and commissions and offering expenses
payable by Aptinyx, are expected to be approximately $30.5 million,
excluding any proceeds from the exercise of the underwriters’
option to purchase additional shares. The proposed offering is
expected to close on January 14, 2020, subject to customary closing
conditions.
Cowen is acting as the sole book-running manager for the
offering. Cantor Fitzgerald & Co. and Wedbush PacGrow are
acting as passive book-running managers for the offering.
Aptinyx intends to use the net proceeds received from the
offering to advance the preclinical and clinical development of its
novel NMDA receptor modulators, including NYX-2925, NYX-783, and
NYX-458, in development for chronic pain, PTSD, and cognitive
impairment, respectively, and for working capital and other general
corporate purposes.
The shares of common stock in the public offering will be issued
by Aptinyx pursuant to a shelf registration statement that was
previously filed with, and declared effective by, the Securities
and Exchange Commission (the “SEC”). The offering will be made only
by means of the written prospectus and prospectus supplement that
form a part of the registration statement. A final prospectus
supplement and the accompanying prospectus relating to the public
offering will be filed by the Company with the SEC. Copies of the
final prospectus supplement and the accompanying prospectus may be
obtained, when available, on the SEC's website at
http://www.sec.gov or by contacting 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 shall not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there
be any offer or sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such state or jurisdiction.
About AptinyxAptinyx Inc. is a
clinical-stage biopharmaceutical company focused on the discovery,
development, and commercialization of proprietary synthetic small
molecules for the treatment of brain and nervous system
disorders.
Forward-Looking Statements Statements contained
in this press release regarding matters that are not historical
facts are “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995. Because such
statements are subject to risks and uncertainties, actual results
may differ materially from those expressed or implied by such
forward-looking statements. Such statements include, but are not
limited to, statements regarding the expected gross proceeds and
closing of the offering. Risks that contribute to the uncertain
nature of the forward-looking statements include: the success,
cost, and timing of the company’s product candidate development
activities and planned clinical studies; the company’s ability to
execute on its strategy; positive results from a clinical study may
not necessarily be predictive of the results of future or ongoing
clinical studies; regulatory developments in the United
States and foreign countries; the company’s estimates
regarding expenses, future revenue, and capital requirements, and
other financial results; as well as those risks and uncertainties
set forth in the company’s most recent Annual Report on Form 10-K
and subsequent filings with the Securities and Exchange
Commission. All forward-looking statements contained in this
press release speak only as of the date on which they were
made. Aptinyx undertakes no obligation to update such
statements to reflect events that occur or circumstances that exist
after the date on which they were made.
Investor Contact:Nick SmithAptinyx
Inc.ir@aptinyx.com 847-871-0377
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