Alnylam Pharmaceuticals Announces $450-Million Proposed Public Offering
Alnylam Pharmaceuticals, Inc. (Nasdaq:ALNY) recently announced it has commenced an underwritten public offering of shares of its common stock to raise aggregate proceeds of approximately $450 million. All of the shares in the offering are to be sold by Alnylam.
J.P. Morgan Securities LLC and Deutsche Bank Securities Inc. are acting as joint book-running managers for the offering. Alnylam intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the number of shares sold. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Alnylam intends to use the net proceeds from this offering for general corporate purposes, focused on achieving its Alnylam 2020 profile with 3 marketed products, 10 RNAi therapeutic clinical programs, including 4 in late stages of development, across its 3 Strategic Therapeutic Areas (STArs) – Genetic Medicines, Cardio-Metabolic Disease, and Hepatic Infectious Disease – by the end of 2020. Alnylam expects these purposes to include research and development expenses, including clinical trial costs, potential acquisitions of new businesses, technologies, or products Alnylam believes have the potential to complement or expand its business, working capital, capital expenditures, and general and administrative expenses.
The securities are being offered by Alnylam pursuant to an automatically effective shelf-registration statement that Alnylam previously filed with the Securities and Exchange Commission (SEC).
Alnylam is a biopharmaceutical company developing novel therapeutics based on RNA interference (RNAi). The company is leading the translation of RNAi as a new class of innovative medicines. Alnylam’s pipeline of investigational RNAi therapeutics is focused in 3 Strategic Therapeutic Areas (STArs): Genetic Medicines, with a broad pipeline of RNAi therapeutics for the treatment of rare diseases; Cardio-Metabolic Disease, with a pipeline of RNAi therapeutics toward genetically validated, liver-expressed disease targets for unmet needs in cardiovascular and metabolic diseases; and Hepatic Infectious Disease, with a pipeline of RNAi therapeutics that address the major global health challenges of hepatic infectious diseases. For more information, visit www.alnylam.com.
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