Alnylam Pharmaceuticals Prices Public Offering of Common Stock
January 14 2019 - 8:13PM
Business Wire
Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY), the leading RNAi
therapeutics company, today announced the pricing of an
underwritten public offering of 5,000,000 shares of its common
stock at a public offering price of $77.50 per share. The gross
proceeds to Alnylam from the offering, before deducting the
underwriting discounts and commissions and other estimated offering
expenses, are expected to be approximately $387,500,000. The
offering is expected to close on or about January 17, 2019, subject
to the satisfaction of customary closing conditions. In addition,
Alnylam has granted the underwriter a 30-day option to purchase up
to an additional 750,000 shares of its common stock solely to cover
over-allotments. All of the shares in the offering are to be sold
by Alnylam.
Barclays Capital Inc. is acting as sole book-running manager for
the offering.
Alnylam intends to use the net proceeds from this offering for
general corporate purposes, including advancing the ongoing
commercialization of ONPATTRO® (patisiran) in the United States and
Europe and, assuming favorable regulatory reviews, the potential
expansion into additional countries, development efforts directed
towards the potential expansion of the ONPATTRO label in the United
States, continuing to advance its late stage clinical pipeline and
preparing for the potential global launch of several additional
products, continuing investment in its early stage pipeline,
including its CNS and ocular programs, clinical trial costs and
other research and development expenses, continued growth of its
manufacturing, quality, commercial and medical affairs capabilities
to support its commercialization efforts, potential acquisitions,
investments or licenses in businesses, products or technologies
that are complementary to Alnylam’s 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).
A registration statement (including a base prospectus and a
preliminary prospectus supplement) relating to these securities has
been filed with the SEC and has become effective. Before you
invest, you should read these and other documents 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.
The offering will be made only by means of a prospectus
supplement and related prospectus. Copies of the preliminary
prospectus supplement and, when available, the final prospectus
supplement and the accompanying base prospectus relating to the
offering may be obtained by contacting Barclays Capital Inc., c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
New York 11717; barclaysprospectus@broadridge.com (phone
888-603-5847).
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.
About Alnylam PharmaceuticalsAlnylam (Nasdaq:ALNY) is
leading the translation of RNA interference (RNAi) into a new class
of innovative medicines with the potential to improve the lives of
people afflicted with rare genetic, cardio-metabolic, hepatic
infectious, and central nervous system (CNS)/ocular diseases. Based
on Nobel Prize-winning science, RNAi therapeutics represent a
powerful, clinically validated approach for the treatment of a wide
range of severe and debilitating diseases. Founded in 2002, Alnylam
is delivering on a bold vision to turn scientific possibility into
reality, with a robust discovery platform. ONPATTRO® (patisiran)
lipid complex injection, available in the U.S. for the treatment of
the polyneuropathy of hereditary transthyretin-mediated (hATTR)
amyloidosis in adults, is Alnylam’s first U.S. FDA-approved RNAi
therapeutic. In the EU, ONPATTRO is approved for the treatment of
hATTR amyloidosis in adults with stage 1 or stage 2 polyneuropathy.
Alnylam has a deep pipeline of investigational medicines, including
three product candidates that are in late-stage development.
Looking forward, Alnylam will continue to execute on its “Alnylam
2020” strategy of building a multi-product, commercial-stage
biopharmaceutical company with a sustainable pipeline of RNAi-based
medicines to address the needs of patients who have limited or
inadequate treatment options. Alnylam employs over 1,000 people
worldwide and is headquartered in Cambridge, MA.
Alnylam Forward-Looking StatementsStatements in this
release concerning Alnylam’s future expectations, plans and
prospects, including, without limitation, statements about
Alnylam’s proposed public offering, intended use of proceeds and
Alnylam’s 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 and future plans 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,
except to the extent required by law, to update any forward-looking
statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20190114005876/en/
Alnylam Pharmaceuticals, Inc.Christine Regan
Lindenboom(Investors and Media)617-682-4340
Josh Brodsky(Investors)617-551-8276
Manmeet Soni(Investors)617-682-4260
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