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Amicus Therapeutics closes common stock offering


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Amicus Therapeutics closes common stock offering

Amicus Therapeutics Inc. closed its underwritten public offering of 19,354,839 common shares at $15.50 apiece with expected gross proceeds of $300 million.

The biotechnology company granted underwriters an option to buy up to an additional 2,903,225 shares.

Amicus expects to use the net proceeds to fund the U.S. and international commercial infrastructure for the Fabry disease treatment migalastat HCl and for investment in manufacturing capabilities for ATB200, its candidate to treat Pompe disease.

Proceeds will also be used for clinical development, research and development expenditures, clinical and preclinical trial expenditures, commercialization expenditures and other general corporate purposes.

The company may also use the proceeds for working capital, capital expenditures, the funding of in-licensing agreements for product candidates, additional technologies or other forms of intellectual property, the acquisition of assets or businesses that are complementary to existing business, and general and administrative expenses.

J.P. Morgan Securities LLC and Goldman Sachs & Co. LLC acted as joint lead book-running managers. Cowen and Leerink Partners acted as co-book-running managers, and Bank of America Merrill Lynch acted as lead co-manager for the offering.