Astria Therapeutics Announces Pricing of $100 Million Underwritten Offering of Common Stock
15 December 2022 - 10:10PM
Business Wire
Astria Therapeutics, Inc. (“Astria Therapeutics,” “Astria,” the
“Company,” “our,” or “us”) (Nasdaq: ATXS), a biopharmaceutical
company developing STAR-0215 for the treatment of hereditary
angioedema and focused on life-changing therapies for rare and
niche allergic and immunological diseases, today announced the
pricing of an underwritten offering of 9,082,653 shares of its
common stock at a price of $11.01 per share. The gross proceeds of
the offering are expected to be approximately $100 million, before
deducting underwriting discounts and commissions and other
estimated offering expenses. In addition, the underwriters have a
30-day option to purchase up to an additional 1,362,397 shares of
common stock at the public offering price less underwriting
discounts and commissions.
All of the securities are being offered by Astria. The offering
is expected to close on or about December 19, 2022, subject to
satisfaction of customary closing conditions.
Jefferies and Evercore ISI are acting as joint book-running
managers for the offering. LifeSci Capital and Oppenheimer &
Co. are acting as co-lead managers and H.C. Wainwright & Co. is
acting as co-manager for the offering.
The securities described above are being offered pursuant to a
shelf registration statement on Form S-3 (File No. 333-264911),
which was declared effective by the Securities and Exchange
Commission (the “SEC”) on May 23, 2022. The offering is being made
only by means of a prospectus supplement and the accompanying
prospectus. A prospectus supplement relating to the offering will
be filed with the SEC and will be available at www.sec.gov. When
available, copies of the prospectus supplement and the accompanying
prospectus may be obtained for free by contacting 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; or Evercore Group
L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street,
35th Floor, New York, NY 10055, or by telephone at (888) 474-0200,
or by email at ecm.prospectus@evercore.com
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such jurisdiction.
About Astria Therapeutics
Astria Therapeutics is a biopharmaceutical company, and our
mission is to bring life-changing therapies to patients and
families affected by rare and niche allergic and immunological
diseases. Our lead program, STAR-0215, is a monoclonal antibody
inhibitor of plasma kallikrein in clinical development for the
treatment of hereditary angioedema.
Forward Looking Statements
Any statements in this press release about future expectations,
plans and prospects for the Company, including statements about the
anticipated completion of the offering and the expected gross
proceeds of the offering, among other things, statements containing
the words “believes,” “anticipates,” “plans,” “expects,” “may” and
similar expressions, constitute forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Actual results may differ materially from those indicated by
such forward-looking statements as a result of various important
factors, including: risks and uncertainties associated with market
conditions, the satisfaction of customary closing conditions
relating to the offering, as well as uncertainties inherent in the
initiation and completion of preclinical studies and clinical
trials and clinical development of the Company’s product
candidates; whether interim results from a clinical trial will be
predictive of the final results of the trial or the results of
future trials; expectations for regulatory approvals to conduct
trials or to market products; availability of funding sufficient
for the Company’s foreseeable and unforeseeable operating expenses
and capital expenditure requirements; other matters that could
affect the availability or commercial potential of the Company’s
product candidates; and general economic and market conditions and
other factors discussed in the “Risk Factors” section of the
Company’s Annual Report on Form 10-K for the fiscal year ended
December 31, 2021, which is on file with the SEC, and in other
filings that the Company may make with the SEC in the future. In
addition, the forward-looking statements included in this press
release represent the Company’s views as of the date of this press
release. The Company anticipates that subsequent events and
developments will cause the Company’s views to change. However,
while the Company may elect to update these forward-looking
statements at some point in the future, the Company specifically
disclaims any obligation to do so. These forward-looking statements
should not be relied upon as representing the Company’s views as of
any date subsequent to the date of this release.
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version on businesswire.com: https://www.businesswire.com/news/home/20221215005384/en/
Investor relations: Andrea Matthews
investors@astriatx.com
Media: Elizabeth Higgins media@astriatx.com
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