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Amicus Therapeutics starts $250M common stock offering

Amicus Therapeutics Inc. initiated a $250 million underwritten public offering of its common stock.

The company expects to grant the underwriters an option to buy up to an additional 15% of the shares offered.

Amicus expects to use the net proceeds to fund the U.S. and international commercial infrastructure for migalastat HCl, investment in manufacturing capabilities for ATB200, the continued clinical development of its product candidates, research and development expenditures, clinical and pre-clinical trial expenditures, commercialization expenditures and for 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 are acting as joint lead book-running managers, Cowen and Leerink Partners LLC are acting as co-book-running managers, and Bank of America Merrill Lynch is acting as lead co-manager for the offering.