Alnylam Pharmaceuticals Announces Proposed Public Offering of $450 Million of Common Stock
January 20 2015 - 7:00AM
Business Wire
Alnylam Pharmaceuticals, Inc. (Nasdaq:ALNY), a leading RNAi
therapeutics company, today announced that it has commenced an
underwritten public offering of shares of its common stock to raise
aggregate proceeds of approximately $450 million. All of the
shares in the offering are to be sold by Alnylam.
J.P. Morgan Securities LLC and Deutsche Bank Securities Inc. are
acting as joint book-running managers for the offering. Alnylam
intends to grant the underwriters a 30 day option to purchase up to
an additional 15% of the number of shares sold. The offering is
subject to market conditions, and there can be no assurance as to
whether or when the offering may be completed, or as to the actual
size or terms of the offering.
Alnylam intends to use the net proceeds from this offering for
general corporate purposes, focused on achieving its Alnylam 2020
profile with 3 marketed products, 10 RNAi therapeutic clinical
programs, including 4 in late stages of development, across its 3
Strategic Therapeutic Areas, or “STArs” – Genetic Medicines,
Cardio-Metabolic Disease, and Hepatic Infectious Disease – by the
end of 2020. Alnylam expects these purposes to include research and
development expenses, including clinical trial costs, potential
acquisitions of new businesses, technologies or products Alnylam
believes have the potential to complement or expand its business,
working capital, capital expenditures and general and
administrative expenses.
The securities described above are being offered by Alnylam
pursuant to an automatically effective shelf registration statement
that Alnylam previously filed with the Securities and Exchange
Commission (SEC).
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities nor shall there be
any sale of these securities in any state in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such state. The offering
of these securities will be made only by means of a prospectus and
the related prospectus supplement. Before you invest, you should
read the prospectus and the related prospectus supplement and any
other document Alnylam has filed with the SEC for more complete
information about Alnylam and this offering. You may get these
documents for free by visiting EDGAR on the SEC website at
www.sec.gov. Alternatively, copies of these documents may be
obtained by contacting J.P. Morgan Securities LLC,
c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, New York 11717, via telephone at
(866) 803-9204; or Deutsche Bank Securities Inc., Attention:
Prospectus Department, 60 Wall Street, New York,
NY 10005, via telephone at (800) 503-4611 or email
at prospectus.cpdg@db.com.
About Alnylam Pharmaceuticals
Alnylam is a biopharmaceutical company developing novel
therapeutics based on RNA interference, or RNAi. The company is
leading the translation of RNAi as a new class of innovative
medicines. Alnylam’s pipeline of investigational RNAi therapeutics
is focused in 3 Strategic Therapeutic Areas (STArs): Genetic
Medicines, with a broad pipeline of RNAi therapeutics for the
treatment of rare diseases; Cardio-Metabolic Disease, with a
pipeline of RNAi therapeutics toward genetically validated,
liver-expressed disease targets for unmet needs in cardiovascular
and metabolic diseases; and Hepatic Infectious Disease, with a
pipeline of RNAi therapeutics that address the major global health
challenges of hepatic infectious diseases. In early 2015, Alnylam
launched its “Alnylam 2020” guidance for the advancement and
commercialization of RNAi therapeutics as a whole new class of
innovative medicines. Specifically, by the end of 2020, Alnylam
expects to achieve a company profile with 3 marketed products, 10
RNAi therapeutic clinical programs – including 4 in late stages of
development – across its 3 STArs. The company’s demonstrated
commitment to RNAi therapeutics has enabled it to form major
alliances with leading companies including Merck, Medtronic,
Novartis, Biogen Idec, Roche, Takeda, Kyowa Hakko Kirin, Cubist,
GlaxoSmithKline, Ascletis, Monsanto, The Medicines Company, and
Genzyme, a Sanofi company. In addition, Alnylam holds an equity
position in Regulus Therapeutics Inc., a company focused on
discovery, development, and commercialization of microRNA
therapeutics. Alnylam scientists and collaborators have published
their research on RNAi therapeutics in over 200 peer-reviewed
papers, including many in the world’s top scientific journals such
as Nature, Nature Medicine, Nature Biotechnology, Cell, New England
Journal of Medicine, and The Lancet. Founded in 2002, Alnylam
maintains headquarters in Cambridge, Massachusetts.
Alnylam Forward-Looking Statements
Statements in this release concerning Alnylam's future
expectations, plans and prospects, including, without limitation,
Alnylam’s intention to publicly offer shares of its common stock
and its expectations regarding future company achievements,
constitute forward-looking statements for the purposes of the safe
harbor provisions under The Private Securities Litigation Reform
Act of 1995. Actual results may differ materially from those
indicated by these forward-looking statements as a result of
various important factors, including, without limitation, risks
related to fluctuations in our stock price, those associated with
market conditions and the satisfaction of customary closing
conditions related to the proposed offering, as well as those risks
more fully discussed in the "Risk Factors" filed with Alnylam's
most recent Quarterly Report on Form 10-Q filed with the SEC and in
other filings that Alnylam makes with the SEC. There can be no
assurance that Alnylam will be able to complete the proposed public
offering on the anticipated terms, or at all. You should not place
undue reliance on these forward-looking statements. In addition,
any forward-looking statements represent Alnylam's views only as of
today and should not be relied upon as representing its views as of
any subsequent date. Alnylam explicitly disclaims any obligation to
update any forward-looking statements.
Alnylam Pharmaceuticals, Inc.Cynthia Clayton,
617-551-8207Vice President, Investor Relations and Corporate
Communicationsor(Media)SpectrumLiz Bryan, 202-955-6222 x2526
Alnylam Pharmaceuticals (NASDAQ:ALNY)
Historical Stock Chart
From Mar 2024 to Apr 2024
Alnylam Pharmaceuticals (NASDAQ:ALNY)
Historical Stock Chart
From Apr 2023 to Apr 2024