Apogee Therapeutics, Inc. (APGE), a clinical-stage biotechnology company, announced that it has commenced a public offering of $300 million of shares of its common stock.
Following the news, APGE is up 2.04% at $80.86.
Apogee intends to use the net proceeds from this offering, together with its existing cash, cash equivalents, and marketable securities, to fund preclinical studies, clinical trials, manufacturing, and commercial readiness activities in support of its antibody programs, as well as for additional research and development activities.
In addition, Apogee expects to grant the underwriters a 30-day option to purchase up to an additional $45 million of shares of its common stock at the public offering price, less underwriting discounts and commissions.
Jefferies, TD Cowen, Stifel and Guggenheim Securities are acting as joint book-running managers for the proposed offering.
Apogee develops biologics for the treatment of atopic dermatitis, asthma, eosinophilic esophagitis, chronic obstructive pulmonary disease, and other inflammatory and immunology indications in the United States.
The company's lead candidate, Zumilokibart (APG777), is being evaluated in Phase 2 trials for the treatment of atopic dermatitis and in Phase 1 trials for asthma and eosinophilic esophagitis.
It also develops APG279 for the treatment of asthma and chronic obstructive pulmonary disease, which is in phase 1 trials; APG273 for asthma and chronic obstructive pulmonary disease; and APG808 for the treatment of allergic diseases.
On Monday, the company reported positive 52-week Phase 2 data for its lead drug candidate Zumilokibart in atopic dermatitis.
APGE has traded between $26.20 and $84.56 in the last year. The stock closed Monday's trade at $79.24, up 19.99%.
For More Such Biotech News, visit rttnews.com.
For comments and feedback contact: editorial@rttnews.com
Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.