Agios raises $475M in follow-on
Agios Pharmaceuticals Inc. (NASDAQ:AGIO) raised $475 million late Thursday through the sale of 7.1 million shares at $67 in a follow-on underwritten by J.P. Morgan, Goldman Sachs, Cowen, RBC Capital Markets and SunTrust Robinson Humphrey. The price is a 5% discount to Agios' close of $70.33 on Wednesday, when the company proposed after market hours to raise up to $400 million.
In December, the cancer and rare disease company submitted an NDA to FDA for ivosidenib (AG-120) to treat acute myelogenous leukemia (AML) in patients with an isocitrate dehydrogenase 1 (IDH1) mutation. The candidate is an inhibitor of mutated IDH1...
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