Aptinyx Announces Closing of Public Offering of Common Stock and Full Exercise of Underwriters’ Option

Rhea-AI Summary

Aptinyx Inc. (Nasdaq: APTX) has completed a public offering of 16,100,000 shares of common stock at $3.00 per share, totaling $48.3 million in gross proceeds. The offering included an exercised option for additional shares and was managed by SVB Leerink, Piper Sandler, and Cantor. The proceeds will fund the development of novel NMDA receptor modulators targeting chronic pain, PTSD, and cognitive impairments. The shares were issued under an effective shelf registration statement with the SEC.

Positive

• Raised $48.3 million in gross proceeds from the offering.
• Funds will advance development of therapies for chronic pain, PTSD, and cognitive impairment.

Negative

• Dilution risk for existing shareholders due to the issuance of additional shares.

EVANSTON, Ill.--(BUSINESS WIRE)--Aptinyx Inc. (Nasdaq: APTX), a clinical-stage biopharmaceutical company developing transformative therapies for the treatment of brain and nervous system disorders, today announced the closing of its public offering of 16,100,000 shares of its common stock, which included the exercise in full of the underwriters’ option to purchase additional shares, at a public offering price of $3.00 per share. All of the shares sold in the offering were sold by Aptinyx. The gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses payable by Aptinyx, were $48.3 million.

SVB Leerink, Piper Sandler and Cantor are acting as joint bookrunning managers for the offering. Wedbush PacGrow is acting as passive bookrunning manager and H.C. Wainwright & Co. is acting as lead manager for the offering.

Aptinyx intends to use the net proceeds received from the offering to advance the development of its novel NMDA receptor modulators, including NYX-2925, NYX-783, and NYX-458, in development for chronic pain, PTSD, and cognitive impairment, respectively, and for working capital and other general corporate purposes.

The shares of common stock in the public offering were issued by Aptinyx pursuant to a shelf registration statement that was previously filed with, and declared effective by, the Securities and Exchange Commission (the “SEC”). The offering was made only by means of the written prospectus and prospectus supplement that form a part of the registration statement. A final prospectus supplement and the accompanying prospectus relating to the public offering were filed by the Company with the SEC. Copies of the final prospectus supplement and the accompanying prospectus may be obtained, when available, on the SEC's website at http://www.sec.gov or by contacting SVB Leerink LLC, Attention: Syndicate Department, One Federal St., 37th Floor, Boston, MA, 02110, by telephone at (800) 808-7525, ext. 6132, or by email at syndicate@svbleerink.com; or Piper Sandler & Co., Attn: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN, 55402, by telephone at (800) 747-3924, or by email at prospectus@psc.com; or Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Ave., 6th Floor, New York, NY, 10022, or by email at prospectus@cantor.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Aptinyx

Aptinyx Inc. is a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of proprietary synthetic small molecules for the treatment of brain and nervous system disorders.

Forward-Looking Statements

Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Such statements include, but are not limited to, statements regarding the expected use of proceeds of the offering. Risks that contribute to the uncertain nature of the forward-looking statements include: the success, cost, and timing of the company’s product candidate development activities and planned clinical studies; the company’s ability to execute on its strategy; positive results from a clinical study may not necessarily be predictive of the results of future or ongoing clinical studies; regulatory developments in the United States and foreign countries; the company’s estimates regarding expenses, future revenue, and capital requirements, and other financial results; as well as those risks and uncertainties set forth in the company’s most recent Annual Report on Form 10-K and subsequent filings with the United States Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made. Aptinyx undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

Source: Aptinyx Inc.