CAMBRIDGE, Mass.--(BUSINESS WIRE)--
Acceleron Pharma Inc. (NASDAQ:XLRN), a leading biopharmaceutical company
in the discovery and development of TGF-beta therapeutics intended to
treat serious and rare hematologic, neuromuscular, and pulmonary
diseases, today announced that it has priced an underwritten public
offering of 5,405,406 shares of common stock at a price to the public of
$37.00 per share for gross proceeds of $200.0 million. In connection
with this offering, Acceleron has granted the underwriters a 30-day
option to purchase up to an additional 810,810 shares of common stock.
J.P. Morgan Securities LLC, Citigroup and Leerink Partners LLC are
acting as joint book-running managers for the offering. The offering is
expected to close on or about September 25, 2017, subject to the
satisfaction of customary closing conditions.
Acceleron expects to receive net proceeds from the offering, after
deducting underwriting discounts and commissions and other offering
expenses payable by the company, of approximately $187.6 million.
Acceleron intends to use the net proceeds from the offering to conduct
clinical trials and associated activities with therapeutic candidates
from its existing research pipeline and for general and administrative
expenses (including personnel-related costs), capital expenditures and
working capital and other general corporate purposes, including
potential acquisitions of rights to additional programs from third
The shares are being offered by Acceleron pursuant to an effective shelf
registration statement on Form S-3 that was previously filed with the
Securities and Exchange Commission (the "SEC"). A preliminary prospectus
supplement relating to and describing the terms of the offering was
filed with the SEC on September 19, 2017. The final prospectus
supplement relating to the offering will be filed with the SEC. When
available, copies of the final prospectus supplement and the
accompanying prospectus can be obtained at the SEC's website http://www.sec.gov
or from J.P. Morgan Securities LLC, Attention: Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone:
1-866-803-9204 or email: firstname.lastname@example.org;
Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717 or telephone: 1-800-831-9146; and
Leerink Partners LLC, Attention: Syndicate Department, One Federal
Street, 37th Floor, Boston, MA, 02110, or by e-mail at Syndicate@Leerink.com,
or by phone at 800-808-7525, ext. 6132.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the securities in the offering, nor
shall there be any sale of these securities in any jurisdiction in which
an offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of such jurisdiction.
Acceleron is a leading biopharmaceutical company in the discovery and
development of TGF-beta therapeutics to treat serious and rare
hematologic, neuromuscular, and pulmonary diseases. Its pioneering
research and protein engineering platform engages the target-rich
TGF-beta superfamily and its remarkable ability to regulate cellular
growth and repair.
Under a global partnership with Celgene, Acceleron is in Phase 3
development with luspatercept, a potential first-in-class chronic anemia
therapy for the treatment of rare blood diseases. The Company is also
advancing a neuromuscular franchise with two distinct Myostatin+ agents,
ACE-083 and ACE-2494, and a pulmonary program with a Phase 2 trial of
sotatercept planned in pulmonary arterial hypertension. Acceleron has
ongoing preclinical research efforts targeting additional indications in
these three disease areas where there is significant unmet medical need.
Cautionary Note on Forward-Looking Statements
Certain statements contained in this release, including those relating
to the use of proceeds from the sale of common stock and the expected
closing of the offering, are forward-looking statements that involve a
number of risks and uncertainties that could cause actual results to
differ materially from those in the forward-looking statements. These
risks and uncertainties include, but are not limited to, risks and
uncertainties associated with the consummation of the proposed offering
and general economic conditions and other risks identified from time to
time in the reports we file with the SEC, including our Annual Report on
Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form
8-K, which are available at www.sec.gov.
We caution investors not to place considerable reliance on the
forward-looking statements contained in this press release. The
forward-looking statements in this press release speak only as of the
date of this document, and we undertake no obligation to update or
revise any of the statements. Our business is subject to substantial
risks and uncertainties, including those referenced above. Investors,
potential investors, and others should give careful consideration to
these risks and uncertainties.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170920006406/en/
Todd James, 617-649-9393
President, Investor Relations and Corporate Communications
Brad Miles, 917-570-7340
Source: Acceleron Pharma Inc.
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