Viela Bio Announces Pricing of Public Offering of Common Stock
Rhea-AI Summary
Viela Bio, Inc. (Nasdaq: VIE) has priced an underwritten public offering of 3,600,000 shares of common stock at $47.00 per share, aiming for gross proceeds of approximately $169 million, before expenses. The offering includes a 30-day option for underwriters to purchase an additional 540,000 shares. Proceeds will support the commercialization of inebilizumab for NMOSD and advance clinical development of pipeline candidates. The offering is expected to close on or about June 1, 2020.
Positive
- Expected gross proceeds of approximately $169 million to support inebilizumab commercialization.
- Funding intended for ongoing clinical development of multiple pipeline candidates.
Negative
- Dilution of existing shares due to the public offering.
News Market Reaction – VIE
In the trading session that priced this news, VIE declined 11.54%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
GAITHERSBURG, Md., May 27, 2020 (GLOBE NEWSWIRE) -- Viela Bio, Inc. (Nasdaq:VIE), a clinical-stage biotechnology company pioneering treatments for autoimmune and severe inflammatory diseases, today announced the pricing of an underwritten public offering of 3,600,000 shares of its common stock at a price to the public of
Morgan Stanley, Goldman Sachs & Co. LLC, Cowen and Guggenheim Securities are acting as the joint book-running managers for the offering. The offering is expected to close on or about June 1, 2020, subject to the satisfaction of customary closing conditions.
Viela Bio intends to use the net proceeds from the offering to support activities for the commercialization of inebilizumab for the treatment of NMOSD, if approved; to advance the ongoing clinical development of inebilizumab in other indications and of VIB4920, VIB7734 and other pipeline candidates; and for working capital and other general corporate purposes. Viela Bio will not receive any proceeds from any sale of shares by the selling stockholders.
The offering is being made only by means of a prospectus. Copies of the final prospectus related to the offering may be obtained, when available, from:
- Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, Second Floor, New York, NY 10014;
- Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, email: prospectus-ny@ny.email.gs.com, telephone: 1-866-471-2526, fax: 1-212-902-9316;
- Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department, email: PostSaleManualRequests@broadridge.com, telephone: 1-833-297-2926; or
- Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017, email: GSEquityProspectusDelivery@guggenheimpartners.com, telephone: 1-212-518-5548.
A registration statement relating to these securities was filed with the Securities and Exchange Commission (SEC) and became effective on May 27, 2020. The registration statement can be accessed through the SEC’s website at www.sec.gov. This press release shall not constitute an offer to sell or a 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 Viela Bio
Viela Bio, headquartered in Gaithersburg, Maryland, is a clinical-stage biotechnology company pioneering treatments for autoimmune and severe inflammatory diseases.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, contained in this press release, including statements regarding the completion of the public offering, the satisfaction of customary closing conditions with respect to the public offering and the use of proceeds therefrom, are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue” or the negative of these terms or other comparable terminology, which are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. Various factors may cause differences between our expectations and actual results as discussed in greater detail in our filings with the Securities and Exchange Commission (SEC), including without limitation, risks and uncertainties related to global economic or market conditions, volatility in the share price of our common stock, changes in our operating plans or funding requirements and the risks and uncertainties described in the section entitled “Risk Factors” in our annual report on Form 10-K for the year ended December 31, 2019 that was filed with the SEC on March 25, 2020 and our subsequent periodic and current reports filed with the SEC. We do not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Source: Viela Bio