CRANBURY, N.J., March 7, 2012 (GLOBE NEWSWIRE) -- Amicus Therapeutics, Inc. (Nasdaq:FOLD), a biopharmaceutical company at the forefront of therapies for rare and orphan diseases, announced today the closing of its previously announced public offering of common stock. Prior to the closing, the underwriters exercised in full their option to purchase an additional 1,500,000 shares of common stock. As a result, the Company issued a total of 11,500,000 shares in the offering at a price of $5.70 per share.
After the underwriting discounts and estimated offering expenses, Amicus received net proceeds of approximately $62 million. Leerink Swann LLC and Cowen and Company, LLC served as underwriters for the offering. The shares described above were sold by Amicus pursuant to a registration statement previously filed with and subsequently declared effective by the Securities and Exchange Commission.
The Company expects to use the net proceeds of this offering to advance its pipeline of pharmacological chaperone monotherapy and combination programs, to potentially enter into collaborations, alliances and other business development opportunities, and for other general corporate purposes.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, 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. Copies of the prospectus supplement and accompanying base prospectus relating to this offering may be obtained from Leerink Swann LLC, Attention: Syndicate Prospectus Department, by telephone at 617-918-4814, or by facsimile at 617-918-4914; or from Cowen and Company, LLC c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY,11717, Phone (631) 274-2806 / Fax (631) 254-7140.
About Amicus Therapeutics
Amicus Therapeutics (Nasdaq:FOLD) is a biopharmaceutical company at the forefront of developing therapies for rare and orphan diseases. The Company is developing orally-administered, small molecule drugs called pharmacological chaperones, a novel, first-in-class approach to treating a broad range of diseases including lysosomal storage disorders and diseases of neurodegeneration. Amicus' lead program migalastat HCl is in Phase 3 for the treatment of Fabry disease.
Forward Looking Statements
Statements in this press release concerning Amicus' future expectations, plans and prospects, including, without limitation, statements regarding the proposed use of proceeds from this offering, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements due to various risks, uncertainties and important factors, including those set forth in the "Risk Factors" section in our Annual Report on Form 10-K for the fiscal year ended December 31, 2011 filed with the Securities and Exchange Commission, any of which could cause our actual results to differ from those contained in the forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and Amicus undertakes no obligation to revise or update this news release to reflect events or circumstances after the date hereof.
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