Biotech

Aeglea BioTherapeutics (Nasdaq:AGLE), a clinical-stage biotechnology company that designs and develops innovative human enzyme therapeutics for patients with rare genetic diseases and cancer, today announced that it has commenced an underwritten public offering of 4,500,000 shares of its common stock. The offering is subject to market conditions, and there can be no assurance as to whether …

Aeglea BioTherapeutics (Nasdaq:AGLE), a clinical-stage biotechnology company that designs and develops innovative human enzyme therapeutics for patients with rare genetic diseases and cancer, today announced that it has commenced an underwritten public offering of 4,500,000 shares of its common stock. The offering is subject to market 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.

As quoted in the press release:

Evercore Group L.L.C. and BMO Capital Markets Corp. are acting as joint book-running managers. JonesTrading Institutional Services LLC is acting as the lead manager.

Aeglea intends to use the net proceeds from the offering for general corporate purposes, which may include funding new and ongoing research and development, capital expenditures, accelerating manufacturing and regulatory activities, initializing commercialization infrastructure and increasing working capital. In addition, Aeglea expects to grant the underwriters of the offering a 30-day option to purchase 675,000 additional shares of common stock at the public offering price less underwriting discounts and commissions.

Click here to read the full press release.

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