26 February 2018 - - Brisbane, California-based food allergy treatment developer Aimmune Therapeutics, Inc. (NASDAQ: AIMT) has commenced an underwritten public offering of up to USD150 m of shares of its common stock, the company said.
All of the shares to be sold in the offering will be offered by Aimmune. In addition, Aimmune expects to grant the underwriters of the offering a 30-day option to purchase up to an additional USD22,500,000 of shares of common stock at the public offering price, less underwriting discounts and commissions.
Aimmune expects to use the net proceeds from this offering to fund its ongoing clinical development of AR101, an investigational biologic for the treatment of patients with peanut allergy; regulatory activities related to the potential filing of a biologics license application and a marketing authorization application for AR101; preparation for potential commercialization of AR101; research and development of additional CODIT product candidates; and for general corporate purposes.
Aimmune Therapeutics is developing treatments for life-threatening food allergies. The company's Characterized Oral Desensitization ImmunoTherapy (CODIT) approach is intended to achieve meaningful levels of protection by desensitizing patients with defined, precise amounts of key allergens.