Applied Genetic planning follow-on
Rare ophthalmic disease company Applied Genetic Technologies Corp. (NASDAQ:AGTC) proposed to sell 2 million shares in a follow-on. If sold at the company's close of $19.07 on Friday, before Applied Genetic's company proposed the offering, the company would raise $38.1 million. BMO Capital Markets; Stifel; Wedbush PacGrow; Cantor Fitzgerald; and Roth Capital Partners are underwriters.
Applied Genetic is developing gene therapies using viral vectors to deliver genes to patients with severe inherited Orphan diseases in ophthalmology. The company's most advanced lead compound is slated to enter a Phase I/II trial to treat X-linked retinoschisis (XLRS), with data expected in mid-2015. XLRS is caused by mutations in the retinoschisis X-linked juvenile 1 ( RS1; XLRS1) gene. ...