Image Credit: Oxford University Innovation
Pepgen Inc., a leading clinical-level biotechnology company advancing the next generation future of oligonucleotide therapies with a motive of transitioning the treatment of neurological disease and extreme neuromuscular, declared that they have initiated an underwritten public offering of its common stock instead of common stock to few investors, including the pre-funded warrants to buy its common stock. All the pre-funded warrants and shares are proposed by Pepgen. Further, Pepgen plans to reward the 30-day option for underwriters to buy additional shares of its common stock.
The initiated offering is titled to certain conditions and the market. There’s no assurance as to when the offering will complete or come to an actual terms or size of the offering. Stifel and Leerink partners will be the joint book-running managers for this proposed offering. Pepgen recently planned to use the net proceeds from this offering for the funding of its clinical development and ongoing research initiative involving the FREEDOM2-DM1 and FREEDOM-DM1 clinical trials, as well as several other general corporate and working capital purposes.
With the previous announcement of the $100 million public offering and now the confirmation of its completion, it is paving the way for investors to actively engage with PepGen and continue its business journey. The offerings revive the professional relationship between the investors and the company in which they invest. This offering will strengthen the financial status of Pepgen and continue to introduce new advancements and developments to contribute immensely to the clinical and overall vast healthcare sector. This offering will have a positive impact on the investors.
The securities are being enabled with the delivery of a registration statement on Form S-3 that was last filed with and later announced effective on 8th July 2024 by the Securities and Exchange Commission (SEC). An accompanying prospectus and preliminary prospectus supplement related to the offering will be legally filed with the SEC and available on the website of the SEC http://www.sec.gov. The copies of the accompanying prospectus and the preliminary prospectus supplement regarding the offering on availability will be collectible from Stifel, Nicolaus and Company, incorporated, located at syndicate, One Montgomery Street, Suite 3700, San Francisco, California 94104, or Leerink Partners LLC, syndicate department, 53 State Street, 40th floor, Boston, MA 02109.
Holding MSC in Biotechnology, Sushma Singh is a seasoned editor at Towards Healthcare, with over three years of experience delivering insightful and accurate news in the healthcare, biotechnology, and pharmaceutical domains.
