Agios Pharmaceuticals’ $294.1 Million Common Stock Offering

Davis Polk advised the joint book-running managers and representatives of the several underwriters in connection with the stock offering.

Agios Pharmaceuticals, Inc. (Nasdaq: AGIO) has priced an underwritten public offering of 8,250,000 shares of common stock at a price to the public of $31.00 per share, before underwriting discounts, which would result in aggregate gross proceeds of approximately $256 million. All of the shares in the offering are to be sold by Agios. Agios has also granted the underwriters a 30-day option to purchase up to 1,237,500 shares of common stock sold in the public offering on the same terms and conditions. Closing of the offering is expected to occur on or November 12, 2019, subject to customary closing conditions.

J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC and Cowen and Company, LLC are acting as joint book-running managers for the offering.

Agios is focused on discovering and developing novel investigational medicines to treat cancer and rare genetic diseases through scientific leadership in the field of cellular metabolism and adjacent areas of biology. All Agios programs focus on genetically identified patient populations, leveraging its knowledge of metabolism, biology and genomics.

The Davis Polk capital markets team included partner Richard D. Truesdell Jr. (Picture) and associate Chris Van Buren. The tax team included partner Michael Mollerus and associate Joseph M. Gerstel. Counsel Bonnie Chen and associate Christopher C. Woller provided intellectual property and technology advice. Counsel Marcie A. Goldstein provided FINRA advice

Involved fees earner: Bonnie Chen – Davis Polk & Wardwell; Joseph Gerstel – Davis Polk & Wardwell; Marcie Goldstein – Davis Polk & Wardwell; Michael Mollerus – Davis Polk & Wardwell; Richard Truesdell Jr. – Davis Polk & Wardwell; Chris Van Buren – Davis Polk & Wardwell; Christopher Woller – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Cowen and Company; Goldman Sachs & Co.; J.P. Morgan Securities LLC;

Author: Ambrogio Visconti