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Apogee Therapeutics Stock Surges 13% on $300 Million Secondary Offering
Apogee Therapeutics Stock Surges 13% on $300 Million Secondary Offering
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BTCCSquare news:
Apogee Therapeutics (APGE) shares rallied nearly 13% Thursday after the clinical-stage biotech announced a $300 million secondary stock offering. The immunology-focused company priced 6.95 million shares at $41 each, with additional warrants for 365,853 shares available to select investors.
The capital raise comes as Apogee seeks to fund preclinical studies and clinical trials for its antibody program. Underwriters retain the option to purchase an extra 1.1 million shares, demonstrating strong institutional interest in the biotech's pipeline.
This financing triumph contrasts sharply with the S&P 500's 0.3% decline, highlighting investor appetite for growth-stage biotechs with promising therapeutic platforms.
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