Axcella Health (NASDAQ: AXLA), a clinical-stage biotechnology company focused on leveraging endogenous metabolic modulators (“EMMs”) to pioneer a new approach for treating complex diseases and improving health, has closed an underwritten public offering of 12,650,000 shares of its common stock, including 1,650,000 additional shares per the full exercise of the over-allotment option granted to the underwriters. According to the update, Axcella secured approximately $60.1 million in gross proceeds, with each of the shares sold at the public offering price of $4.75. Axcella intends to use the proceeds, together with its existing cash and cash equivalents, to advance its current programs and product candidates, development platform and discovery efforts, as well as to support organizational growth and for working capital and other general corporate purposes. ROTH Capital Partners acted as co-manager for the offering.
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About Axcella Health
Axcella is a clinical-stage biotechnology company focused on leveraging endogenous metabolic modulators (“EMMs”) to pioneer a new approach for treating complex diseases and improving health. The company’s product candidates are comprised of EMMs and their derivatives that are engineered in distinct combinations and ratios to simultaneously impact multiple biological pathways. Axcella’s pipeline includes lead therapeutic candidates for non-alcoholic steatohepatitis (“NASH”) and the reduction in risk of overt hepatic encephalopathy (“OHE”) recurrence. Additional muscle- and blood-related programs are in earlier-stage development. For more information, visit the company’s website at www.AxcellaHealth.com.
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