Acceleron Pharma Inc. plans to sell $200 million of its common stock in an underwritten public offering.
The clinical-stage biopharmaceutical company also plans to grant the underwriters an option to buy up to an additional 15% of the shares offered.
Acceleron, which focuses on the development and commercialization of therapeutics to treat serious and rare diseases, plans to use the net proceeds from the offering for clinical trials and associated activities with therapeutic candidates from its research pipeline. Its neuromuscular disorder therapy ACE-083 was granted fast-track designation by the U.S. Food and Drug Administration in November 2018.
In addition, the proceeds will be used for working capital, general corporate purposes and administrative expenses, including potential future development programs and potential acquisitions.
Citigroup, J.P. Morgan and SVB Leerink are acting as joint book-running managers for the offering.