Why Amicus Therapeutics, Inc. (NASDAQ:FOLD) Is In Focus?

0
283

Amicus Therapeutics, Inc. (NASDAQ:FOLD) reported that it will schedule a conference call on February 28, 2018 to discuss financial report for the full year closed December 31, 2017. This call will be hosted by Chairman and CEO, John F. Crowley. He will be joined by additional members of the company’s management team.

The buzz

More recently, Amicus Therapeutics reported the closing of its earlier announced offering of common stock. The firm issued a total of around 19.354 million shares at a price of $15.50 a share. The company has given the underwriters a 30-day option to buy up to an additional around 2.903 million shares of its common stock.

The gross proceeds from this offering is projected to be $300 million, before discounting underwriting discounts and commissions as well as estimated offering expenses. Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC served as joint lead book-running managers. BofA Merrill Lynch was reported to be lead co-manager for this offering, while Cowen and Leerink Partners served as co-book-running managers.

Amicus Therapeutics anticipates to use the net proceeds from this offering for investment in the international and U.S. commercial infrastructure for migalastat HCl, the continued clinical advancement of its product candidates, R&D expenditures, pre-clinical and clinical trial expenditures, commercialization costs, investment in manufacturing activities for ATB200, and for other general corporate uses.

These general corporate uses may include capital expenditures, working capital, the funding of in-licensing deals for product candidates, additional know-hows or other types of intellectual property, the assets or businesses acquisition that are complementary to the firm’s current business and general and administrative expenses.

In the last trading session, the stock price of gained 0.07% to close the day at $15.14. The gains came at a share volume of 2.49 million compared to average share volume of 3.68 million.

LEAVE A REPLY

Please enter your comment!
Please enter your name here