AC Immune SA, a Swiss-based, biopharmaceutical company focused on neurodegenerative diseases, today announced that its common shares will open for trading on the NASDAQ Stock Market. CEO Prof. Andrea Pfeifer will be joined by members of AC Immune's senior team and guests at the First Trade Ceremony at NASDAQ’s headquarters in New York.
AC Immune SA announced today the pricing of its initial public offering of 6,000,000 of its common shares at the initial public offering price of $11.00 per common share. This represents a 32% increase in the offering size relative to the originally announced amount. In addition, AC Immune has granted the underwriters for the offering an option to purchase up to 900,000 additional common shares to cover over-allotments. After deducting the underwriting discounts and other estimated offering expenses, the net proceeds of the initial public offering are expected to be approximately $57.8 million.
Professor Andrea Pfeifer, CEO of AC Immune said: "We are delighted to take AC Immune public and to join NASDAQ, the right trading platform for our company as we broaden our shareholder base to support our next growth phase. With our pipeline of seven therapeutic and three diagnostic candidates, we believe that we are well-positioned to leverage our expertise in addressing Alzheimer’s disease and other disorders caused by misfolding proteins.”
“I wish to thank all of our employees, founders, board members, shareholders, business partners and members of the medical community for their loyalty and support which has enabled us to achieve the maturity of a public company “, she concluded.
Martin Velasco, Chairman of the Board, commented: “AC Immune has made remarkable progress since its foundation in 2003, benefiting from the vibrant life science and business environment in Switzerland. Today marks broader international recognition of the company, and we welcome our new investors in Switzerland, the United Kingdom, the United States and elsewhere as we pursue our goal of becoming a leader in personalized treatments for neurodegenerative diseases.”
The First Trade Ceremony with Prof. Andrea Pfeifer will take place today at 10:00am EDT (4:00pm CEST).
About AC Immune
AC Immune is a clinical stage Swiss-based biopharmaceutical company focused on neurodegenerative diseases with four product candidates in clinical trials. The Company designs, discovers and develops therapeutic and diagnostic products intended to prevent and modify diseases caused by misfolding proteins.
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