Applied Genetic Technologies Corporation (Nasdaq: AGTC), a biotechnology company conducting human clinical trials of adeno-associated virus (AAV)-based gene therapies for the treatment of rare diseases, today announced that it has commenced an underwritten public offering of 6,000,000 shares of its common stock. All the shares in the offering will be sold by AGTC. In addition, AGTC expects to grant the underwriters a 30-day option to purchase up to an additional 900,000 shares of its common stock sold in the public offering. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering.

Wells Fargo Securities, LLC and Wedbush Securities Inc. are acting as joint book-running managers for the offering. H.C. Wainwright & Co., LLC is acting as lead manager for the offering. Janney Montgomery Scott LLC and Roth Capital Partners are acting as co-managers for the offering.

A registration statement relating to the shares of common stock being offered has been filed with the Securities and Exchange Commission (the “SEC”) but has not yet become effective. These shares may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy and there shall not be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.