argenx (Euronext Brussels: ARGX), a clinical-stage biotechnology company developing a deep pipeline of differentiated antibody-based therapies for the treatment of severe autoimmune diseases and cancer, announced today that it intends to increase the number of American Depositary Shares ("ADSs"), representing an equal number of ordinary shares, offered in its previously announced initial public offering in the United States (the "Offering") to 5 million ADSs.
The completion of the Offering is subject to market and other conditions. The final issuance price per ADS (in USD) sold in the Offering will be determined following the bookbuilding process.
argenx's ordinary shares are currently listed on the regulated market of Euronext Brussels. argenx has made an application to have its ADSs listed on the NASDAQ Global Stock Market under the symbol "ARGX". Application will also be made to admit the ordinary shares issued pursuant to the Offering to trading on the regulated market of Euronext Brussels.
A registration statement relating to and describing the terms of the Offering has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. The ADSs may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.
Cowen and Company and Piper Jaffray & Co. are acting as joint bookrunning managers for the Offering, and JMP Securities and Wedbush PacGrow are acting as co-managers. Kempen & Co is acting as argenx's advisor in connection with the Offering.
argenx intends to grant the underwriters of the Offering a 30-day option to purchase additional ordinary shares in the form of ADSs, provided that the number of such additional ADSs shall not exceed 15% of the ADSs sold in the Offering.
The ADSs referred to in this release are to be offered only by means of a prospectus. When available, copies of the preliminary prospectus can be obtained from Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus Department, by telephone at (631) 274-2806 or by fax at (631) 254-7140 or from Piper Jaffray & Co., Attn: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55403, or by telephone at (800)747-3924, or by email at firstname.lastname@example.org.
argenx is a clinical-stage biotechnology company developing a deep pipeline of differentiated antibody-based therapies for the treatment of severe autoimmune diseases and cancer. We are focused on developing product candidates with the potential to be either first-in-class against novel targets or best-in-class against known, but complex, targets in order to treat diseases with a significant unmet medical need. Our ability to execute on this focus is enabled by our suite of differentiated technologies. Our SIMPLE Antibody(TM) Platform, based on the powerful llama immune system, allows us to exploit novel and complex targets, and our three antibody engineering technologies are designed to enable us to expand the therapeutic index of our product candidates.