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Aeglea BioTherapeutics Announces Pricing of $120 Million Public Offering

AUSTIN, Texas, April 28, 2020 (GLOBE NEWSWIRE) -- Aeglea BioTherapeutics, Inc. (Nasdaq:AGLE), a clinical-stage biotechnology company developing next-generation human enzyme therapeutics as disruptive solutions for rare and other high-burden diseases, today announced the pricing of an underwritten public offering of 11,652,830 shares of its common stock at a price to the public of $4.75 per share. In addition, and in lieu of common stock, Aeglea is offering to certain investors pre-funded warrants to purchase up to an aggregate of 13,610,328 shares of common stock at a purchase price of $4.7499 per pre-funded warrant, which represents the per share public offering price for the common stock less the $0.0001 per share exercise price for each such pre-funded warrant. The aggregate gross proceeds from this offering are expected to be approximately $120 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Aeglea. The offering is expected to close on or about April 30, 2020, subject to customary closing conditions. Aeglea has also granted the underwriters a 30-day option to purchase up to an additional 3,789,473 shares of common stock in connection with the public offering. All of the securities are being offered by Aeglea.

J.P. Morgan Securities LLC, Evercore Group L.L.C. and Piper Sandler & Co. are acting as joint book-running managers in the offering. JonesTrading Institutional Services LLC and Needham & Company, LLC are acting as co-managers.

Aeglea intends to use the net proceeds from the offering, together with its existing cash resources, to advance the clinical development of pegzilarginase through its Phase 3 PEACE trial and BLA submission, advance its Phase 1/2 clinical trial and prepare for a potential Phase 3 trial of ACN00177 for Homocystinuria, and the remainder to fund continued research and development, manufacturing, commercialization infrastructure and for working capital and general corporate purposes.

The securities described above are being offered by Aeglea pursuant to a registration statement on Form S-3 previously filed and declared effective by the Securities and Exchange Commission (SEC). The offering is being made only by means of the written prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement and accompanying base prospectus relating to and describing the terms of the offering have been filed with the SEC and are available on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus supplement and accompanying base prospectus, and when available, the final prospectus supplement and accompanying base prospectus may also be obtained from J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (866) 803-9204 or by email at prospectus-eq_fi@jpmchase.com; Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 36th Floor, New York, NY 10055, by telephone at (888) 474-0200, or by e-mail at: ecm.prospectus@evercore.com; or Piper Sandler & Co., 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, Attention: Prospectus Department, by telephone at (800) 747-3924 or by email at prospectus@psc.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of Aeglea, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Aeglea BioTherapeutics

Aeglea BioTherapeutics is a clinical-stage biotechnology company developing next-generation human enzyme therapeutics as disruptive solutions for rare and other high-burden diseases. Aeglea's lead product candidate, pegzilarginase, is in a Phase 3 pivotal trial for the treatment of Arginase 1 Deficiency and has received both Rare Pediatric Disease and Breakthrough Therapy Designation. Aeglea has an active discovery platform with programs for Homocystinuria and Cystinuria. The Company’s Clinical Trial Application (CTA) for ACN00177 for Homocystinuria has been approved by the United Kingdom’s Medicines and Healthcare Products Regulatory Agency (MHRA).

Safe Harbor / Forward Looking Statements

This press release contains "forward-looking" statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. These statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from what we expect. Examples of forward-looking statements include, among others, statements we make regarding our ability to complete the offering and expected use of proceeds. Further information on potential risk factors that could affect our business and its financial results are detailed in our most recent Annual Report on Form 10-K for the year ended December 31, 2019 and the supplemental COVID-19 risk factor in our Current Report on Form 8-K filed on April 8, 2020, each filed with the Securities and Exchange Commission (SEC), and other reports as filed with the SEC. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Media Contact:
Kelly Boothe, Ph.D.
Director, Corporate Communications
Aeglea BioTherapeutics
512.399.5458
media@aegleabio.com

Investor Contact:
Joey Perrone
Senior Director, Finance & Investor Relations
Aeglea BioTherapeutics
investors@aegleabio.com

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Source: Aeglea BioTherapeutics, Inc.