Acceleron Pharma Inc. (Nasdaq: XLRN), a leading
biopharmaceutical company in the discovery, development and
commercialization of TGF-beta superfamily therapeutics to treat
serious and rare diseases, today announced that it intends to offer
and sell, subject to market and other conditions, $400 million of
its common stock in an underwritten public offering. As part of
this offering, Acceleron intends to grant the underwriters a 30-day
option to purchase up to an additional fifteen percent (15%) of the
shares of common stock offered in the public offering. All of the
shares in the proposed offering are to be sold by Acceleron.
J.P. Morgan, SVB Leerink and Cowen are acting as joint
book-running managers for the offering. Barclays, Credit Suisse,
and Piper Sandler & Co. are also acting as joint book-running
managers.
Acceleron intends to use the net proceeds from the offering to
conduct clinical trials and associated activities in connection
with its therapeutic candidates in its pulmonary programs; to
prepare for the potential launch and commercialization of
sotatercept; and the remainder for general corporate purposes,
including potential future development programs, capital
expenditures and working capital, as well as potential acquisitions
of rights to additional programs from third parties.
The securities described above are being offered by Acceleron
pursuant to its registration statement on Form S-3 filed with the
Securities and Exchange Commission (the “SEC”) on September 19,
2017, which became effective automatically when it was filed. The
offering will be made only by means of a preliminary prospectus
supplement and accompanying prospectus, copies of which may be
obtained, when available, from J.P. Morgan Securities LLC, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717, by telephone at (866) 803-9204; or by email at
Prospectus-eq_fi@jpmchase.com; SVB Leerink LLC, by mail at One
Federal Street, 37th Floor, Boston, MA 02110, Attention: Syndicate
Department, by telephone at (800) 808-7525, ext. 6218, or by email
at syndicate@svbleerink.com; and Cowen and Company, LLC c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY, 11717, Attn: Prospectus Department, by email at
PostSaleManualRequests@broadridge.com or by telephone at (833)
297-2926.
The final terms of the offering will be disclosed in a final
prospectus supplement to be filed with the SEC.
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.
About Acceleron
Acceleron is a biopharmaceutical company dedicated to the
discovery, development, and commercialization of therapeutics to
treat serious and rare diseases. Acceleron’s leadership in the
understanding of TGF-beta superfamily biology and protein
engineering generates innovative compounds that engage the body's
ability to regulate cellular growth and repair.
Acceleron focuses its commercialization, research, and
development efforts in hematologic and pulmonary diseases. In
hematology, Acceleron and its global collaboration partner, Bristol
Myers Squibb, are co-promoting REBLOZYL® (luspatercept-aamt), the
first and only approved erythroid maturation agent, in the United
States for the treatment of anemia in certain blood disorders. The
Companies are also developing luspatercept for the treatment of
anemia in patient populations of MDS, beta-thalassemia, and
myelofibrosis. In pulmonary, Acceleron is developing sotatercept
for the treatment of pulmonary arterial hypertension.
Cautionary Note on Forward-Looking Statements
This press release contains forward-looking statements about
Acceleron’s strategy, future plans and prospects, including
statements regarding the use of proceeds from the sale of common
stock and the development and commercialization of Acceleron’s
compounds, the timeline for clinical development and regulatory
approval of Acceleron’s compounds, and the potential of Reblozyl®
(luspatercept-aamt) as a therapeutic drug. The words "anticipate,"
"believe," "could," "estimate," "expect," "goal," "intend," "may,"
"plan," "potential," "project," "should," "target," "will,"
"would," and similar expressions are intended to identify
forward-looking statements, although not all forward-looking
statements contain these identifying words.
Actual results could differ materially from those included in
the forward-looking statements due to various factors, risks and
uncertainties, including, but not limited to, risks and
uncertainties associated with the consummation of the proposed
offering, changes in general economic or regulatory conditions, and
the clinical development and commercialization of Acceleron’s
compounds. These and other risks and uncertainties are identified
under the heading “Risk Factors” included in Acceleron’s most
recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q,
and other filings that Acceleron has made and may make with the SEC
in the future. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20200629005774/en/
Acceleron Pharma Inc.
Investors: Todd James, (617) 649-9393 Senior Vice President,
Corporate Affairs and Investor Relations
Media: Matt Fearer, 617-301-9557 Director, Corporate
Communications
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