Axcella Health debuts IPO


Cambridge, Massachusetts-based Axcella Health Inc, a biotech company, has raised $71.4 million for its IPO after pricing its over 3.5 million shares at $20 per share. The stock began trading May 9, 2019 on the NASDAQ under the ticker symbol “AXLA.” Goldman Sachs, J.P. Morgan and SVB Leerink are the lead underwriters. Axcella’s pre-IPO backers included Gurnet Point Capital, Flagship Pioneering and Enso Ventures.

PRESS RELEASE

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.

A registration statement relating to the shares being sold in this offering has been filed with the Securities and Exchange Commission and became effective on May 8, 2019. The offering is being made only by means of a prospectus. Copies of the final prospectus may be obtained, when available, from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, telephone: (866) 471-2526, facsimile: (212) 902-9316, or email: [email protected]; from J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: (866) 803-9204, or email: [email protected]; or from SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at (800) 808-7525, ext. 6132, or by emailing [email protected]

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

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.

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