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Agios Pharmaceuticals Inc Sees IPO Priced At $14-$16 Per Share-Form S-1

Thursday, 11 Jul 2013 08:00pm EDT 

Agios Pharmaceuticals Inc reported in its Form S-1 that it is offering 5,000,000 shares of its common stock. Common stock to be sold in the concurrent private placement to Celgene is 850,000 shares and Common stock to be outstanding after this offering and the concurrent private placement to Celgene is 29,380,339. This is the Company Initial Public Offering (IPO), and no public market currently exists for shares. The Company have applied to have common stock listed on The NASDAQ Global Market under the symbol 'AGIO.' The Company anticipate that the initial public offering price will be between $14.00 and $16.00 per share. the Company are an emerging growth company as that term is used in the Jumpstart Business Startups Act of 2012, and as such, have elected to comply with certain reduced public reporting requirements. The underwriters have an option for a period of 30 days to purchase up to 750,000 additional shares of our common stock. The Company intend to use the net proceeds from this offering and the concurrent private placement as follows: approximately $5 million to fund the costs of phase 1 clinical development of AG-221; if we exercise our option to develop and commercialize AG-120 in the United States, approximately $20-25 million to fund IND-enabling costs and our share of early development costs for AG-120; approximately $20 million to fund the IND-enabling activities and phase 1/2 clinical development of AG-348. 

Company Quote

4.93 +5.38%
27 Mar 2015