CAMBRIDGE, Mass., April 18, 2017 (GLOBE NEWSWIRE) -- Agios Pharmaceuticals, Inc. (Nasdaq:AGIO) today announced that it has priced an underwritten a public offering of 5,050,505 shares of common stock at a price to the public of $49.50 per share, before underwriting discounts, which would result in aggregate gross proceeds of approximately $250 million. All of the shares in the offering are to be sold by Agios. Agios has also granted the underwriters a 30-day option to purchase from it up to an additional 15% of the shares of common stock offered in the public offering on the same terms and conditions. Closing of the offering is expected to occur on or about April 24, 2017, subject to customary closing conditions.
J.P. Morgan Securities LLC and Goldman, Sachs & Co. are acting as joint book-running managers for the offering. Cowen and Company, LLC is serving as lead manager.
The shares are being offered by Agios pursuant to an automatically effective shelf registration statement that has been filed with the Securities and Exchange Commission (“SEC”). A preliminary prospectus supplement relating to, and describing the terms of, the offering has been filed with the SEC and is available on the SEC’s web site at www.sec.gov.
This press release does 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 Agios Pharmaceuticals, Inc.
Agios is focused on discovering and developing novel investigational medicines to treat cancer and rare genetic diseases through scientific leadership in the field of cellular metabolism. In addition to an active research and discovery pipeline across both therapeutic areas, Agios has multiple first-in-class investigational medicines in clinical and/or preclinical development. All Agios programs focus on genetically identified patient populations, leveraging our knowledge of metabolism, biology and genomics.
