What Is The Buzz Surrounding Aimmune Therapeutics Inc (NASDAQ:AIMT)?

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Aimmune Therapeutics Inc (NASDAQ:AIMT) a biopharmaceutical firm developing treatments for serious food allergies reported that it will host an Investor and Analyst Event in the first week of March, at the joint congress of the AAAAI and the WAO in Orlando, Florida, after a late-breaking oral presentation of its Phase 3 PALISADE study results.

The buzz

This event will bring together major expert allergists to talk the results of Aimmune’s Phase III PALISADE study of AR101 for the cure of peanut allergy, which were reported by the firm on February 20, 2018. Additional PALISADE report will be issued at AAAAI-WAO, including studies exploring the effect of baseline characteristics on patient results, peanut-specific biomarkers and indications severity during the placebo-controlled, double-blind food challenge.

In unrelated news, Aimmune Therapeutics reported the completion of its earlier reported underwritten public offering of 5.5 million shares of its common stock at a price of $32 per share. All shares in the public offering were offered by Aimmune, with gross proceeds to company of $176 million and net proceeds of around $164.2 million, after deducting commissions and underwriting discounts and projected offering expenses.

Additionally, the company has granted the underwriters a 30-day option to buy up to an additional 825,000 shares at the public offering price, less commissions and underwriting discounts. BofA Merrill Lynch, Piper Jaffray & Co. and Cantor Fitzgerald & Co. are joint bookrunning managers for the public offering. RBC Capital Markets and Credit Suisse are also serving as book running managers. Wedbush PacGrow and Roth Capital Partners are co-managers for the offering.

In the last trading session, the stock price of Aimmune gained more than 2% to close the day at $32.50. The gains came at a share volume of 1.64 million compared to average share volume of 1.11 million. Post the recent gains, the market cap of firm was noted at $1.65 billion.

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