CAMBRIDGE, Mass., May 08, 2019 (GLOBE NEWSWIRE) -- Axcella Health Inc., a biotechnology company pioneering the research and development of novel multifactorial interventions to address dysregulated metabolism and support health, today announced the pricing of its initial public offering of 3,571,428 shares of common stock at a public offering price of $20.00 per share, before underwriting discounts and commissions. In addition, Axcella has granted the underwriters a 30-day option to purchase up to an additional 535,714 shares of common stock at the initial public offering price, less the underwriting discounts and commissions. Axcella’s common stock is expected to begin trading on The Nasdaq Global Market on May 9, 2019, under the ticker symbol “AXLA.” All of the common stock in the offering is being offered by Axcella. The gross proceeds of the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Axcella, are expected to be $71.4 million, excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on May 13, 2019, subject to the satisfaction of customary closing conditions.
Goldman Sachs & Co. LLC, J.P. Morgan and SVB Leerink are acting as joint book-running managers for the offering.
About Axcella Health
Axcella is designing and developing AXA Candidates, compositions of endogenous metabolic modulators, or EMMs, engineered in distinct ratios, designed to target and maximize the fundamental role that EMMs play in regulating multiple metabolic functions. Axcella’s AXA Candidates are generated from its proprietary, human-focused AXA Development Platform. Axcella believes its expertise and capabilities in EMMs position it to become a preeminent biotechnology company reprogramming metabolism to address a diverse set of complex diseases and support health. Axcella’s AXA Development Platform has already produced a pipeline of product candidates in programs targeting liver, muscle and blood. Axcella was founded by Flagship Pioneering.
