Printer Friendly

AVROBIO anticipates USD100m from public offering of common stock.

M2 PHARMA-February 13, 2020-AVROBIO anticipates USD100m from public offering of common stock

(C)2020 M2 COMMUNICATIONS

Gene therapy company AVROBIO Inc (NASDAQ:AVRO) said on Wednesday that it has priced its public offering of 4,350,000 shares of common stock.

The company issued the shares at the public offering price of USD23.00 per share for gross proceeds of approximately USD100m, before deducting underwriting discounts and commissions and other offering expenses.

AVROBIO has provided the underwriters with a 30-day option to purchase up to 652,500 additional shares of its common stock at the public offering price, less underwriting discounts and commissions.

Net proceeds from the offering, with existing cash resources, are planned to be used by the company for its current programmes in Fabry disease, cystinosis, Gaucher disease and Pompe disease, external and internal manufacturing and process development activities, research and development activities, as well as planned general and administrative expenses, working capital and other general corporate purposes.

The offering is expected to close on or about 18 February 2020, subject to customary closing conditions. Morgan Stanley, Cowen, Wells Fargo Securities and Guggenheim Securities are the joint book-running managers. Wedbush PacGrow and Nomura are the co-managers.

((Comments on this story may be sent to info@m2.com))

COPYRIGHT 2020 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2020 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M2 Pharma
Date:Feb 13, 2020
Words:209
Previous Article:NorthStar Medical Technologies Signs letter of intent with Clarity Pharmaceuticals to Supply Therapeutic Radioisotope Copper-67.
Next Article:Q-linea announces global, exclusive partnership with Thermo Fisher Scientific for commercialisation of ASTar.
Topics:

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters