CRANBURY, N.J., Nov. 24, 2014 (GLOBE NEWSWIRE) -- Amicus Therapeutics (Nasdaq:FOLD), a biopharmaceutical company at the forefront of therapies for rare and orphan diseases, today announced the closing of its previously announced public offering of common stock. Prior to the closing, the underwriters exercised in full their option to purchase an additional 2,077,500 shares of common stock. As a result, the Company issued a total of 15,927,500 shares in the offering at a price of $6.50 per share.
The gross proceeds from the offering to Amicus are expected to be $103.5 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Amicus. J.P. Morgan Securities LLC acted as sole book-running manager for the offering. Cowen and Company, LLC and Leerink Partners acted as lead managers and Janney Montgomery Scott acted as co-manager for the offering.
The Company expects to use the net proceeds of the offering for investment in the global commercialization infrastructure for migalastat monotherapy for Fabry disease, the continued clinical development of its product candidates and for other general corporate purposes.
Copies of the prospectus supplement and accompanying base prospectus relating to the offering may be obtained by contacting J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 (telephone number: 866-803-9204).
About Amicus Therapeutics
Amicus Therapeutics (Nasdaq:FOLD) is a biopharmaceutical company at the forefront of therapies for rare and orphan diseases. The Company is developing novel, first-in-class treatments for a broad range of human genetic diseases, with a focus on delivering new benefits to individuals with lysosomal storage diseases. Amicus' lead programs include the small molecule pharmacological chaperones migalastat as a monotherapy and in combination with enzyme replacement therapy (ERT) for Fabry disease; and AT2220 (duvoglustat) in combination with ERT for Pompe disease.
Statements in this press release concerning Amicus' future expectations, plans and prospects, including, without limitation, statements regarding the proposed public offering, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements due to various risks, uncertainties and important factors, including those set forth in the "Risk Factors" section in the prospectus supplement relating to the offering and in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2013 filed with the Securities and Exchange Commission, any of which could cause its actual results to differ from those contained in the forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and Amicus undertakes no obligation to revise or update this news release to reflect events or circumstances after the date hereof.
CONTACT: Investors/Media: Amicus Therapeutics Sara Pellegrino Director, Investor Relations firstname.lastname@example.org (609) 662-5044 Media: Pure Communications Dan Budwick email@example.com (973) 271-6085
Source:Amicus Therapeutics, Inc.