Apogee Therapeutics, Inc. (Nasdaq: APGE), a clinical-stage
biotechnology company seeking to develop differentiated biologics
for the treatment of atopic dermatitis, chronic obstructive
pulmonary disease, asthma and other inflammatory and immunology
indications (Apogee or the Company), today announced the pricing of
its upsized previously announced underwritten public offering of
6,774,193 shares of common stock at a public offering price per
share of $62.00. The aggregate gross proceeds to Apogee from the
offering are expected to be approximately $420.0 million before
deducting underwriting discounts and commissions and other offering
expenses payable by Apogee, excluding any exercise of the
underwriters’ option to purchase additional shares. The offering is
expected to close on March 12, 2024, subject to the satisfaction of
customary closing conditions. In addition, Apogee has granted the
underwriters a 30-day option to purchase up to an additional
1,016,128 shares of common stock at the public offering price, less
underwriting discounts and commissions. All of the shares are being
offered by Apogee.
Jefferies, BofA Securities, Goldman Sachs & Co. LLC, TD
Cowen and Stifel are acting as joint book-running managers for the
offering.
Registration Statements relating to these securities have been
filed with the Securities and Exchange Commission (SEC) and became
effective on March 7, 2024. The offering is being made only by
means of a written prospectus. A copy of the final prospectus
relating to the offering, when available, may be obtained from:
Jefferies LLC, Attention: Equity Syndicate Prospectus Department,
520 Madison Avenue, New York, NY 10022, by telephone at (877)
821-7388, or by email at Prospectus_Department@Jefferies.com; BofA
Securities, NC1-022-02-25, Attention: Prospectus Department, 201
North Tryon, Charlotte, NC 28255-0001, or by email at
dg.prospectus_requests@bofa.com; Goldman Sachs & Co. LLC,
Prospectus Department, 200 West Street, New York, NY 10282, by
telephone: (866) 471-2526, by facsimile: (212) 902-9316 or by email
at Prospectus-ny@ny.email.gs.com; Cowen and Company, LLC, 599
Lexington Avenue, New York, NY 10022, by telephone at (833)
297-2926, or by email at Prospectus_ECM@cowen.com; or Stifel,
Nicolaus & Company, Incorporated, Attention: Syndicate, One
Montgomery Street, Suite 3700, San Francisco, CA 94104, by
telephone at (415) 364-2720, or by email at
syndprospectus@stifel.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 Apogee
Apogee Therapeutics is a clinical-stage biotechnology company
seeking to develop differentiated biologics for the treatment of
atopic dermatitis (AD), chronic obstructive pulmonary disease
(COPD), asthma and other inflammatory and immunology indications
with high unmet need. Apogee’s antibody programs are designed to
overcome limitations of existing therapies by targeting
well-established mechanisms of action and incorporating advanced
antibody engineering properties to optimize half-life and other
properties. The Company’s two most advanced programs are APG777 and
APG808, which are being initially developed for the treatment of AD
and COPD, respectively. Based on a broad pipeline and depth of
expertise, the company believes it can deliver value and meaningful
benefit to patients underserved by today’s standard of care.
Forward-Looking Statements
Certain statements in this press release may constitute
“forward-looking statements” within the meaning of the federal
securities laws, including, but not limited to, Apogee’s
expectations regarding the consummation of the offering and the
satisfaction of customary closing conditions with respect to the
offering. Words such as “may,” “might,” “will,” “objective,”
“intend,” “should,” “could,” “can,” “would,” “expect,” “believe,”
“design,” “estimate,” “predict,” “potential,” “develop,” “plan” or
the negative of these terms, and similar expressions, or statements
regarding intent, belief, or current expectations, are
forward-looking statements. While Apogee believes these
forward-looking statements are reasonable, undue reliance should
not be placed on any such forward-looking statements, which are
based on information available to the Company on the date of this
release. These forward-looking statements are based upon current
estimates and assumptions and are subject to various risks and
uncertainties (including, without limitation, those set forth in
Apogee’s filings with the SEC, many of which are beyond the
company’s control and subject to change. Actual results could be
materially different. Risks and uncertainties include: global
macroeconomic conditions and related volatility, expectations
regarding the initiation, progress, and expected results of the
Company’s preclinical studies, clinical trials and research and
development programs; expectations regarding the timing, completion
and outcome of the Company’s clinical trials; the unpredictable
relationship between preclinical study results and clinical study
results; the timing or likelihood of regulatory filings and
approvals; liquidity and capital resources; and other risks and
uncertainties identified in the Company’s Annual Report on Form
10-K for the year ended December 31, 2023, filed with the SEC on
March 5, 2024, and subsequent disclosure documents we may file with
the SEC. Apogee claims the protection of the Safe Harbor contained
in the Private Securities Litigation Reform Act of 1995 for
forward-looking statements. Apogee expressly disclaims any
obligation to update or alter any statements whether as a result of
new information, future events or otherwise, except as required by
law.
Investor Contact:Noel KurdiVP, Investor
RelationsApogee Therapeutics,
Inc.Noel.Kurdi@apogeetherapeutics.com
Media Contact:Dan
Budwick1ABdan@1abmedia.com
Apogee Therapeutics (NASDAQ:APGE)
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