Apogee Therapeutics, Inc. Announces Pricing of $350 Million Underwritten Public Offering
Rhea-AI Summary
Apogee Therapeutics (Nasdaq: APGE) priced an underwritten public offering of 5,000,000 common shares at $70.00 per share, for aggregate gross proceeds of approximately $350 million.
The offering is expected to close on March 26, 2026, subject to customary closing conditions, and underwriters have a 30-day option to purchase up to an additional 750,000 shares.
Positive
- Gross proceeds of $350 million
- Offering expected to close on March 26, 2026
- Underwriters' 30-day option for 750,000 additional shares
Negative
- Issuance of 5,000,000 new shares will dilute existing shareholders
- Net proceeds reduced by underwriting discounts, commissions and offering expenses
News Market Reaction – APGE
In the Mar 25 session, APGE gained 7.58%, reflecting a notable positive market reaction. Argus tracked a peak move of +12.2% during that session. Argus tracked a trough of -5.8% from its starting point during tracking. Our momentum scanner triggered 53 alerts that day, indicating high trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Offering Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Oct 10 | Offering closing | Positive | +2.9% | Closed prior equity offering with gross proceeds of about $345 million. |
| Oct 08 | Offering pricing | Positive | +12.6% | Priced underwritten equity offering targeting roughly $300 million in proceeds. |
| Oct 08 | Offering launch | Positive | +12.6% | Announced proposed underwritten offering with 30-day overallotment option. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Past equity offerings tended to coincide with positive single-day price moves.
Recent same-tag history shows Apogee repeatedly accessing the equity markets. On Oct 8, 2025, it announced and priced an underwritten offering for about $300 million, followed by closing on Oct 10, 2025 with gross proceeds of roughly $345 million. Each of these offering-related announcements saw positive next-day price reactions between 2.86% and 12.64%. Today’s $350 million offering pricing continues that capital-raising pattern, but the pre-news setup now includes a higher share price and prior insider sales.
Key Terms
underwritten public offering financial
prospectus supplement regulatory
registration statement regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
SAN FRANCISCO and BOSTON, March 24, 2026 (GLOBE NEWSWIRE) -- Apogee Therapeutics, Inc. (Nasdaq: APGE), a clinical-stage biotechnology company advancing optimized, novel biologics with the potential for best-in-class profiles in the largest inflammatory and immunology (I&I) markets, today announced the pricing of its previously announced underwritten public offering of 5,000,000 shares of its common stock at a public offering price per share of
Jefferies, TD Cowen, Stifel and Guggenheim Securities are acting as joint book-running managers for the offering. Wedbush PacGrow and BTIG are acting as lead managers for the offering.
An automatically effective shelf registration statement relating to these securities was filed with the Securities and Exchange Commission (SEC) on August 12, 2024. This offering is being made only by means of a written prospectus, including a prospectus supplement, forming a part of an effective registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and are available on the SEC’s website, located at www.sec.gov. A copy of the final prospectus supplement and the accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov and, when available, may be obtained from: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388, or by email at Prospectus_Department@Jefferies.com; TD Securities (USA) LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email at TDManualrequest@broadridge.com; Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at (415) 364-2720 or by email at syndprospectus@stifel.com; or Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, by telephone at (212) 518-9544, or by email at GSEquityProspectusDelivery@guggenheimpartners.com.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, 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.
About Apogee
Apogee Therapeutics is a clinical-stage biotechnology company advancing novel biologics with the potential for differentiated efficacy and dosing in the largest I&I markets, including for the treatment of Atopic Dermatitis (AD), asthma, Eosinophilic Esophagitis (EoE), Chronic Obstructive Pulmonary Disease (COPD) and other I&I indications. Apogee’s antibody programs are designed to overcome limitations of existing therapies by targeting well-established mechanisms of action and incorporating advanced antibody engineering to optimize half-life and other properties. Zumilokibart (APG777), the Company’s most advanced program, is being initially developed for the treatment of AD, which is the largest and one of the least penetrated I&I markets, as well as asthma and EoE. With four validated targets in its portfolio, Apogee is seeking to achieve best-in-class efficacy and dosing through monotherapies and combinations of its novel antibodies. Based on a broad pipeline and depth of expertise, the Company believes it can deliver value and meaningful benefit to patients underserved by today’s standard of care.
Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the federal securities laws, including, but not limited to, statements regarding Apogee’s expectations regarding the consummation of the offering, the satisfaction of customary closing conditions with respect to the offering and the potential value and clinical benefit of the Company’s product candidates, including combination therapies. Words such as “may,” “might,” “will,” “objective,” “intend,” “should,” “could,” “can,” “would,” “expect,” “believe,” “design,” “estimate,” “predict,” “potential,” “develop,” “plan” or the negative of these terms, and similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While Apogee believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to the Company on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties (including, without limitation, those set forth in the Company’s filings with the SEC), many of which are beyond the Company’s control and subject to change. Actual results could be materially different. Risks and uncertainties include: global macroeconomic conditions and related volatility, expectations regarding the initiation, progress, and expected results of the Company’s preclinical studies, clinical trials and research and development programs; expectations regarding the timing, completion and outcome of the Company’s clinical trials; the unpredictable relationship between preclinical study results and clinical study results; the applicability of clinical study results to actual outcomes; the timing or likelihood of regulatory filings and approvals; liquidity and capital resources; and other risks and uncertainties identified in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on March 2, 2026, and subsequent disclosure documents the Company may file with the SEC. The Company claims the protection of the Safe Harbor contained in the Private Securities Litigation Reform Act of 1995 for forward-looking statements. The Company expressly disclaims any obligation to update or alter any statements whether as a result of new information, future events or otherwise, except as required by law.
Investor Contact:
Noel Kurdi
VP, Investor Relations
Apogee Therapeutics, Inc.
Noel.Kurdi@apogeetherapeutics.com
Media Contact:
Dan Budwick
1AB Media
dan@1abmedia.com
