Achaogen Announces Closing of Public Offering Including Exercise of Underwriters’ Option to Purchase Additional Shares

SOUTH SAN FRANCISCO, Calif., Dec. 19, 2016 -- Achaogen, Inc. (NASDAQ:AKAO), a clinical-stage biopharmaceutical company developing novel antibacterials addressing multi-drug resistant (MDR) gram-negative infections, today announced the completion of its previously announced underwritten public offering of 7,475,000 shares of its common stock at a public offering price of $13.50 per share, which includes the exercise in full of the underwriters’ option to purchase up to an additional 975,000 shares of common stock. All shares in the offering were sold by Achaogen, with gross proceeds to Achaogen of approximately $100.9 million and net proceeds of approximately $94.5 million, after deducting underwriting discounts and commissions and estimated offering expenses.

Leerink Partners LLC, Stifel and Guggenheim Securities, LLC acted as joint book-running managers for the offering. SunTrust Robinson Humphrey, Inc. acted as lead manager for the offering.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission and became effective on April 21, 2015. This offering was made solely by means of such registration statement, including a prospectus supplement and the accompanying prospectus forming a part of the registration statement. Copies of the prospectus supplement and the accompanying prospectus related to the offering may be obtained from Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA, 02110, by email at [email protected], or by phone at 800-808-7525, ext. 6142; Stifel, Nicolaus & Company, Incorporated, One Montgomery Street, Suite 3700, San Francisco, California 94104, Attn: Syndicate, by phone at 415-364-2720 or by email at [email protected]; or Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, by email at [email protected], or by phone at 212-518-9658.

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 Achaogen
Achaogen is a clinical-stage biopharmaceutical company passionately committed to the discovery, development, and commercialization of novel antibacterials to treat MDR gram-negative infections. Achaogen is developing plazomicin, Achaogen’s lead product candidate, for the treatment of serious bacterial infections due to MDR Enterobacteriaceae, including carbapenem-resistant Enterobacteriaceae. Achaogen’s plazomicin program is funded in part with a contract from the Biomedical Advanced Research and Development Authority. Plazomicin is the first clinical candidate from Achaogen’s gram-negative antibiotic discovery engine, and Achaogen has other programs in early and late preclinical stages focused on other MDR gram-negative infections.

Media Contact:
Denise Powell
510.703.9491
[email protected]