Aeglea BioTherapeutics Withdraws Public Offering

AUSTIN, Texas, Feb. 10, 2022 /PRNewswire/ -- Aeglea BioTherapeutics, Inc. (Nasdaq:AGLE), a clinical-stage biotechnology company developing a new generation of human enzyme therapeutics as innovative solutions for rare metabolic diseases, announced today the withdrawal of the previously announced, proposed public offering. We are well capitalized, with cash and cash equivalents of $95.0 million as of December 31, 2021, which we believe will be sufficient to fund our operations into the first quarter of 2023.

Our estimated cash and cash equivalents as of December 31, 2021 is preliminary, has not been audited, and is subject to change upon completion of the preparation of our financial statements as of and for the year ended December 31, 2021.

About Aeglea BioTherapeutics

Aeglea BioTherapeutics is a clinical-stage biotechnology company redefining the potential of human enzyme therapeutics to benefit people with rare metabolic diseases with limited treatment options. In December 2021, Aeglea announced positive topline data from its PEACE Phase 3 clinical trial for its lead product candidate, pegzilarginase, in patients with Arginase 1 Deficiency. Pegzilarginase has received both Rare Pediatric Disease and Breakthrough Therapy designations. Aeglea also has an ongoing Phase 1/2 clinical trial of AGLE-177 for the treatment of Homocystinuria. AGLE-177 has been granted Rare Pediatric Disease Designation. Aeglea has an active discovery platform focused on engineering small changes in human enzymes to have a big impact on the lives of patients and their families.

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 Aeglea expects. Further information on potential risk factors that could affect Aeglea's business and its financial results are detailed in Aeglea's most recent Quarterly Report on Form 10-Q for the quarter ended September 30, 2021 filed with the SEC, and other reports filed with the SEC. Aeglea undertakes 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.

 

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SOURCE Aeglea BioTherapeutics, Inc.