Argenx raised over $300 million in their US public offering
18 September 2018 - Read the press release here.
Argenx is a Belgian clinical-stage biotechnology company, developing differentiated antibody-based therapies for the treatment of severe autoimmune diseases and cancer. This week they announced the pricing of an underwritten public offering in the United States and an offering in Europe only to qualified investors, with anticipated gross proceeds totalling approximately $300.6 million from the sale of 3,475,000 American Depositary Shares at a price to the public of $86.50 per ADS.
The public offering comes shortly after the company announced positive Phase II results for its lead autoimmune drug candidate, efgartigimod. Argenx now plans to progress efgartigimod, an antibody fragment inspired by llama antibodies, to Phase III trials for treatment of the autoimmune blood disease primary immune thrombocytopenia (ITP).