Apogee Therapeutics completes $403 million public offering

Apogee Therapeutics Inc. (NASDAQ: APGE) completed its public offering of 5.75 million shares at $70 per share, raising gross proceeds of approximately $403 million before fees and expenses.

The biotechnology company sold 5 million shares in the base offering plus an additional 750,000 shares through the full exercise of underwriters' overallotment option. The offering closed on March 26.

Jefferies, TD Cowen, Stifel and Guggenheim Securities served as joint book-running managers for the offering. Wedbush PacGrow and BTIG acted as lead managers.

The shares were offered under an automatically effective shelf registration statement filed with the Securities and Exchange Commission on August 12, 2024.

Apogee develops biologics for inflammatory and immunology conditions including atopic dermatitis, asthma, eosinophilic esophagitis and chronic obstructive pulmonary disease. The company's lead program, zumilokibart, is being developed for atopic dermatitis treatment.

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