Amicus Therapeutics Prices Underwritten Offering of Common Stock

Amicus Therapeutics (Nasdaq:FOLD) announced the pricing of an underwritten offering of 19,354,839 shares of its common stock at $15.50 per share. The gross proceeds from the offering to Amicus are expected to be $300 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Amicus.

As quoted in the press release:

The Company expects to use the net proceeds of the offering for investment in the U.S. and international commercial infrastructure for migalastat HCl, investment in manufacturing capabilities for ATB200, the continued clinical development of its product candidates, research and development expenditures, clinical and pre-clinical trial expenditures, commercialization expenditures and for other general corporate purposes, which may include working capital, capital expenditures, the funding of in-licensing agreements for product candidates, additional technologies or other forms of intellectual property, the acquisition of assets or businesses that are complementary to the Company’s existing business and general and administrative expenses.

Click here to read the full press release.