AveXis Announces Pricing of Initial Public Offering

CHICAGO, Feb. 10, 2016 -- AveXis, Inc. (Nasdaq:AVXS), a clinical stage gene therapy company developing treatments for patients suffering from rare and life-threatening neurological genetic diseases, today announced the pricing of its initial public offering of 4,750,000 shares of common stock at an initial public offering price of $20.00 per share, before underwriting discounts. In addition, AveXis has granted the underwriters a 30-day option to purchase up to an additional 712,500 shares of common stock at the initial public offering price, less underwriting discounts and commissions. All of the shares are being offered by AveXis. The shares are expected to begin trading on The NASDAQ Global Select Market on February 11, 2016 under the ticker symbol "AVXS." The offering is expected to close on February 17, 2016, subject to customary closing conditions. 

AveXis intends to use its existing cash and cash equivalents and the net proceeds of the offering, expected to total $85.9 million, to fund the ongoing Phase 1 clinical trial and future spinal muscular atrophy trials of AVXS-101; for manufacturing activities to support ongoing and future trials for AVXS-101, including the establishment of the Company’s own manufacturing facility; and for general corporate purposes and working capital.

Goldman, Sachs & Co. and Jefferies LLC are acting as joint book-running managers. BMO Capital Markets Corp. is acting as lead manager and Chardan is acting as co-manager of the offering.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on February 10, 2016. The offering will be made only by means of a prospectus, copies of which may be obtained for free from the offices of Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, NY 10282; by telephone at 1-866-471-2526; or by email at [email protected] or Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022; by phone at 1-877-547-6340; or by email at [email protected].

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 such state or jurisdiction.

About AveXis, Inc.
AveXis is a clinical-stage gene therapy company developing treatments for patients suffering from rare and life-threatening neurological genetic diseases. The company’s initial proprietary gene therapy candidate, AVXS-101, is in an ongoing Phase 1 clinical trial for the treatment of SMA Type 1.

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Lauren Barbiero
W2O Group
646-564-2156
[email protected]