Agenus Announces Pricing of Its Public Offering of Common Stock
May 21 2015 - 9:27AM
Business Wire
Agenus Inc. (NASDAQ: AGEN), an immunology company developing
innovative treatments for cancers and other diseases, today
announced the pricing of an underwritten public offering of
11,000,000 shares of its common stock at a price to the public of
$6.30 per share. The gross proceeds from the offering to Agenus are
expected to be $69,300,000, before deducting underwriting discounts
and commissions and estimated offering expenses payable by Agenus.
Agenus has granted the underwriters a 30-day option to purchase up
to an additional 1,650,000 shares of its common stock at the public
offering price, less the underwriting discount. All of the shares
of common stock to be sold in the offering will be sold by
Agenus.
Jefferies LLC and William Blair & Company,
L.L.C. are acting as joint book-running managers for the
offering and Oppenheimer & Co. Inc. is acting as co-manager for
the offering. The offering is expected to close on or about May 27,
2015, subject to customary closing conditions.
The shares will be issued by Agenus pursuant to a shelf
registration statement that was previously filed with the
Securities and Exchange Commission (SEC) on October 10, 2014 and
declared effective by the SEC on October 23, 2014. The offering is
being made only by means of a written prospectus and prospectus
supplement that form a part of the registration statement. A
preliminary prospectus supplement and accompanying prospectus
relating to the offering has been filed with the SEC and is
available on the SEC’s website at www.sec.gov. A final prospectus
supplement related to the offering will be filed with the SEC. When
available, copies of the final prospectus supplement and the
accompanying prospectus may also be obtained by contacting
Jefferies LLC, Attention: Equity Syndicate Prospectus Department,
520 Madison Avenue, 2nd Floor, New York, NY 10022, or by email at
Prospectus_Department@Jefferies.com, or by phone at (877) 547-6340;
or William Blair & Company, L.L.C. at 222 West Adams Street,
Chicago, IL 60606, Attention: Prospectus Department, by telephone
at (800) 621-0687, or by email at prospectus@williamblair.com.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Agenus
Agenus is an immunology company developing a series of
Checkpoint Modulators for the treatment of patients with cancer,
infectious diseases, and other immune disorders, heat shock protein
(HSP)-based vaccines, and immune adjuvants. These programs are
supported by three separate technology platforms. Agenus’ internal
and partnered checkpoint modulator programs target GITR, OX40,
CTLA-4, LAG-3, TIM-3, PD-1 and other undisclosed programs. The
company’s proprietary discovery engine Retrocyte DisplayTM is
used to generate fully human and humanized therapeutic antibody
drug candidates. The Retrocyte Display platform uses a
high-throughput approach incorporating IgG format human antibody
libraries expressed in mammalian B-lineage cells. Agenus recently
acquired a powerful yeast antibody display platform termed SECANT,
developed by Celexion, LLC. SECANT allows rapid generation of
soluble, full-length human antibodies. SECANT and Agenus’ mammalian
antibody display platform have complementary strengths and further
bolster Agenus' abilities to generate and optimize fully human
monoclonal antibodies. Agenus’ heat shock protein-based vaccines
have completed Phase 2 studies in newly diagnosed glioblastoma
multiforme, and in the treatment of herpes simplex viral infection;
the heat shock protein-based vaccine platform can generate
personalized as well as off the shelf products. The company’s QS-21
Stimulon® adjuvant platform is extensively partnered with
GlaxoSmithKline and with Janssen Sciences Ireland UC and includes
several candidates in Phase 2 trials, as well as shingles and
malaria vaccines which have successfully completed Phase 3 clinical
trials.
Forward-Looking Statement
This press release contains forward-looking statements,
including statements regarding the company’s public offering. These
forward-looking statements are subject to risks and uncertainties
that could cause actual results to differ materially. These risks
and uncertainties include, among others, the uncertainties related
to market conditions and the completion of the public offering on
the anticipated terms or at all and the factors described under the
Risk Factors section of our most recent Quarterly Report on Form
10-Q, which was filed with the SEC on May 1, 2015, and the
preliminary prospectus supplement filed with the SEC on May 20,
2015 under the heading “Risk Factors.” Agenus cautions investors
not to place considerable reliance on the forward-looking
statements contained in this release. These statements speak only
as of the date of this press release, and Agenus undertakes no
obligation to update or revise the statements, other than to the
extent required by law. All forward-looking statements are
expressly qualified in their entirety by this cautionary
statement.
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version on businesswire.com: http://www.businesswire.com/news/home/20150521005769/en/
Media:BMC CommunicationsBrad Miles,
646-513-3125bmiles@bmccommunications.comorInvestors:Argot
PartnersAndrea Rabney, 212-600-1902andrea@argotpartners.comorJamie
Maarten, 212-600-1902jamie@argotpartners.com
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