AVEO Declares the Value of a Public Providing of $ 48.0 Million of Widespread Shares
BOSTON–(BUSINESS WIRE) – AVEO Oncology (Nasdaq: AVEO) introduced right now that it has priced its beforehand introduced subscribed public providing of 6,000,000 shares of its widespread inventory at a public worth of $ 8.00 per motion. The gross proceeds of the providing for AVEO are anticipated to be $ 48.0 million earlier than the deduction of underwriting reductions and commissions and providing charges. The entire shares within the providing are bought by AVEO. AVEO has additionally granted the underwriters a 30-day choice to buy as much as 900,000 extra widespread shares on the identical phrases. The provide is anticipated to shut on or round March 26, 2021, topic to compliance with customary closing circumstances.
The online proceeds of the providing are anticipated for use for working capital and common company functions, together with to assist FOTIVDA associated advertising and marketing actions.® (tivozanib) and to maneuver the AVEO pipeline ahead.
SVB Leerink and Stifel act as joint bookrunners of the provide. Baird acts because the chief of the providing. HC Wainwright & Co. and JonesTrading act as co-managers of the providing.
Shares are being supplied by AVEO in accordance with a pre-registration assertion on Kind S-3 that was filed with the Securities and Alternate Fee (“SEC”) on November 9, 2020 and declared efficient by the SEC on November 18, 2020. A The preliminary prospectus complement referring to the Provide and describing the phrases of the Provide has been filed with the SEC and is on the market on the SEC’s web site at www.sec.gov.
Copies of the Last Prospectus Complement and accompanying prospectus referring to this providing, when out there, could also be obtained from SVB Leerink LLC, Attn: Syndicate Division, One Federal Road, 37e Ground, Boston, MA 02110, by cellphone at (800) 808-7525, ext. 6105 or by electronic mail to [email protected]; or Stifel, Nicolaus & Firm, Included, Attn .: Syndicate, One Montgomery Road, Suite 3700, San Francisco, CA 94104, by cellphone at (415) 364-2720 or by electronic mail at [email protected]
This press launch doesn’t represent a suggestion to promote or the solicitation of a suggestion to purchase, and there shall be no sale of such securities in any state or jurisdiction the place such a suggestion, solicitation or sale could be unlawful earlier than registration or qualification beneath the securities legal guidelines of these states or jurisdictions.
About AVEO Prescription drugs, Inc.
AVEO is an oncology-focused biopharmaceutical firm dedicated to offering medicine that enhance the lives of most cancers sufferers. AVEO’s technique is to focus its assets on the event and commercialization of its product candidates in North America, whereas leveraging partnerships to assist growth and commercialization in different geographies. AVEO Principal Applicant, FOTIVDA® (tivozanib), acquired U.S. Meals and Drug Administration (FDA) approval on March 10, 2021 for the therapy of grownup sufferers with relapsed or refractory renal cell carcinoma (CRC) after two or extra systemic therapies earlier. FOTIVDA® was authorised in August 2017 within the European Union and different international locations within the EUSA territory for the therapy of grownup sufferers with superior CRC. AVEO has beforehand reported promising early medical knowledge on ficlatuzumab (anti-HGF IgG1 mAb) in head and neck most cancers, pancreatic most cancers and acute myeloid leukemia and is conducting a randomized confirmatory part 2 medical trial of ficlatuzumab for the potential therapy of head and neck most cancers. AVEO’s portfolio of product candidates additionally consists of AV-380 (anti-GDF15 IgG1 mAb). AVEO beforehand reported the acceptance of its investigational new drug utility in the US for AV-380 and the initiation of a Section 1 medical trial for the potential therapy of most cancers cachexia. AVEO’s early stage pipeline consists of monoclonal antibodies in growth in oncology, together with AV-203 (anti-ErbB3 mAb) and AV-353 (anti-Notch 3 mAb). AVEO is dedicated to creating an surroundings of variety and inclusion.
Warning Relating to Ahead-Trying Statements
This press launch incorporates forward-looking statements throughout the which means of the Personal Securities Litigation Reform Act of 1995 that contain substantial dangers and uncertainties. All statements, aside from statements of historic truth, contained on this press launch are forward-looking statements. The phrases “anticipate”, “consider”, “estimate”, “count on”, “hope”, “intend”, “can”, “plan”, “potential”, “may”, “ought to” , “Would”, “search”, “look to the longer term”, “transfer ahead”, “aim”, “technique” or the damaging of those phrases or different related expressions, are meant to establish forward-looking statements, though that every one forward-looking statements don’t comprise them figuring out phrases. These forward-looking statements embrace, amongst different issues, statements referring to the timing of the closing of the general public providing and the meant use of the proceeds ensuing therefrom. Precise outcomes could differ materially from these projected or implied in these forward-looking statements. Components which will trigger such a distinction embrace, with out limitation, the dangers and uncertainties related to the satisfaction of customary closing circumstances associated to the general public providing and the affect of financial, sectoral or common political circumstances in the US. United or internationally. There could be no assurance that AVEO will be capable to full the general public provide on the phrases offered, or under no circumstances. You shouldn’t place undue reliance on these forward-looking statements. Extra dangers and uncertainties referring to the Provide, AVEO and its actions could be discovered beneath the heading “Danger Components” included in AVEO’s annual report on Kind 10-Okay for the 12 months ended December 31, 2020, AVEO preliminary prospectus complement filed with the SEC in March [•], 2021, and different filings that AVEO could file with the SEC sooner or later. All forward-looking statements contained on this press launch communicate solely as of the date hereof, and AVEO expressly disclaims any obligation to replace any forward-looking statements, whether or not on account of new data, future occasions or different.