Deal Details

AVEO Completes $55 Million Follow-On Offering

Healthcare

AVEO follow-on offering

Summary

AVEO Oncology (“AVEO”) (NASDAQ-CM:AVEO) recently completed an underwritten public offering of 6,900,000 shares of its common stock, which included the exercise in full by the underwriters of their option to purchase an additional 900,000 shares of common stock, at a public offering price of $8.00 per share. The gross proceeds to AVEO from the offering are expected to be approximately $55.2 million.

Baird served as lead manager on this offering.

About

AVEO is an oncology-focused biopharmaceutical company committed to delivering medicines that provide a better life for cancer patients. AVEO’s strategy is to focus its resources toward development and commercialization of its product candidates in North America, while leveraging partnerships to support development and commercialization in other geographies. AVEO’s lead candidate, FOTIVDA® (tivozanib), received U.S. Food and Drug Administration (FDA) approval on March 10, 2021 for the treatment of adult patients with relapsed or refractory renal cell carcinoma (RCC) following two or more prior systemic therapies. FOTIVDA® was approved in August 2017 in the European Union and other countries in the EUSA territory for the treatment of adult patients with advanced RCC. AVEO has previously reported promising early clinical data on ficlatuzumab (anti-HGF IgG1 mAb) in head and neck cancer, pancreatic cancer and acute myeloid leukemia and is conducting a randomized Phase 2 confirmatory clinical trial of ficlatuzumab for the potential treatment of head and neck cancer. AVEO’s pipeline of product candidates also includes AV-380 (anti-GDF15 IgG1 mAb). AVEO has previously reported the acceptance of its investigational new drug application in the U.S. for AV-380 and its initiation of a Phase 1 clinical trial for the potential treatment of cancer cachexia. AVEO’s earlier-stage pipeline includes monoclonal antibodies in oncology development, including AV-203 (anti-ErbB3 mAb) and AV-353 (anti-Notch 3 mAb). AVEO Pharmaceuticals, Inc. is headquartered in Boston, Massachusetts.

Healthcare

AVEO follow-on offering