Apogee Therapeutics, Inc. Announces Proposed $300 Million Underwritten Public Offering
Rhea-AI Summary
Apogee Therapeutics (Nasdaq: APGE) announced a proposed underwritten public offering of $300 million of common stock on March 23, 2026, with a 30‑day option for underwriters to purchase up to an additional $45 million.
Net proceeds are intended to fund preclinical and clinical programs, manufacturing, commercial readiness, R&D, capital expenditures, working capital and general corporate purposes. The offering is subject to market conditions and will be made by prospectus supplement under an existing registration statement.
Positive
- Proceeds target of $300 million to fund development
- Use of funds includes clinical trials, manufacturing, and R&D
- All shares offered by the company, increasing cash runway
Negative
- Dilution risk to existing shareholders from new share issuance
- Offering subject to market conditions; completion is not assured
- Potential overallotment of up to $45 million increases dilution
News Market Reaction – APGE
In the Mar 24 session, APGE declined 7.87%, reflecting a notable negative market reaction. Argus tracked a peak move of +30.3% during that session. Our momentum scanner triggered 30 alerts that day, indicating elevated 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 | Neutral | +2.9% | Closed prior underwritten offering with about $345M in gross proceeds. |
| Oct 08 | Offering pricing | Neutral | +12.6% | Priced ~$300M offering of shares and pre-funded warrants at $41.00. |
| Oct 08 | Offering launch | Neutral | +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.
Prior equity offerings have historically seen positive price reactions, with an average move of about 9.38% on similar "offering" events.
Recent "offering" news shows Apogee raising substantial capital via underwritten deals. On October 8, 2025, it announced and priced a roughly $300 million offering that included common shares and pre-funded warrants, with underwriters granted a 30-day option for additional shares. By October 10, 2025, the company closed the transaction with gross proceeds of about $345 million. Those events produced positive one-day moves of 12.64% and 2.86%, framing today’s proposed raise within an established capital-raising pattern.
Key Terms
underwritten public offering financial
prospectus supplement regulatory
shelf registration statement regulatory
Securities and Exchange Commission (SEC) regulatory
joint book-running managers financial
preliminary prospectus regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
SAN FRANCISCO and BOSTON, March 23, 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 that it has commenced an underwritten public offering of
Apogee intends to use the net proceeds from this offering, together with its existing cash, cash equivalents, marketable securities and long-term marketable securities, to fund preclinical studies, clinical trials, manufacturing, and commercial readiness activities in support of its antibody programs, as well as for additional research and development activities, capital expenditures, working capital and general corporate purposes.
Jefferies, TD Cowen, Stifel and Guggenheim Securities are acting as joint book-running managers for the proposed offering. Wedbush PacGrow and BTIG are acting as lead managers for the proposed 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 will be made only by means of a written prospectus, including a prospectus supplement, forming a part of an effective registration statement. A copy of the preliminary prospectus and the accompanying prospectus relating to the offering may be obtained, when available, 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 proposed offering, including the timing, structure and completion of the proposed offering on the anticipated terms, the anticipated use of the net proceeds from the offering, the grant to the underwriters of the option to purchase additional shares 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
