uniQure sets $17 share price for $75 million offering

LEXINGTON, Mass. and AMSTERDAM - uniQure N.V. (NASDAQ:QURE), a gene therapy company, has announced the pricing of its public offering of 4,411,764 ordinary shares at $17.00 each, expecting to raise gross proceeds of approximately $75 million before deductions. The offering comes as the company's stock has shown remarkable momentum, with InvestingPro data showing a 366% surge over the past six months, though analysts have recently revised earnings expectations downward. The offering, with securities sold by uniQure, is anticipated to close around January 10, 2025, subject to customary conditions.

The company has also granted underwriters a 30-day option to buy up to an additional 661,764 shares at the offering price minus underwriting discounts and commissions. Leerink Partners, Stifel, and Guggenheim Securities are managing the bookrunning, while Chardan and H.C. Wainwright & Co. are the lead managers.

This offering follows uniQure's filing of an automatic shelf registration statement with the U.S. Securities and Exchange Commission (SEC) on January 7, 2025. Prospective investors can obtain copies of the final prospectus supplement and accompanying prospectus from the bookrunners once filed with the SEC.

uniQure specializes in gene therapies for severe medical conditions and has made strides with its hemophilia B treatment. It continues to develop gene therapies for Huntington's disease, epilepsy, ALS, Fabry disease, and other conditions.

The press release includes forward-looking statements, which are subject to various factors that could affect the actual outcomes, including market conditions, regulatory developments, and global economic impacts. With a market capitalization of approximately $860 million and high price volatility, investors seeking deeper insights can access 13 additional exclusive ProTips and comprehensive financial analysis through InvestingPro. The company cautions that actual results may differ from those projected.

This news is based on a press release statement and does not constitute an offer to sell or a solicitation of an offer to buy the securities in any state or jurisdiction where such an offer would be unlawful.

In other recent news, uniQure N.V. has made significant strides in the development of its gene therapy product, AMT-130, for Huntington's Disease. The U.S. Food and Drug Administration (FDA) has agreed to an accelerated approval process for AMT-130. This development has been positively received by financial services companies like Raymond (NS:RYMD) James, Stifel, and RBC Capital Markets. In addition, the company has initiated a Phase I/II clinical trial for its investigational treatment AMT-162, aimed at addressing ALS caused by SOD1 mutations.

On another note, TD Cowen, through its analyst Joseph Thome, outlined ten anticipated catalysts for the year 2025 that are expected to generate significant investor interest. These include a range of clinical trial data releases and regulatory milestones across various firms. For instance, ANAB is expected to release Phase II rheumatoid arthritis data for Rosnilimab, and UTHR is looking to extend the success of its Tyvaso treatment to a Phase III idiopathic pulmonary fibrosis program.

Furthermore, Mizuho (NYSE:MFG) Securities has updated its perspective on uniQure, increasing its price target for the company's stock to $20.00. This adjustment reflects Mizuho's growing confidence in uniQure's AMT-130. However, the firm notes that uniQure's stock has already experienced a substantial increase, suggesting that the market has already priced in the potential for accelerated approval of AMT-130.

Lastly, Goldman Sachs has maintained its Neutral rating on uniQure shares, citing the FDA's review of AMT-130 data. The firm expressed confidence that the existing data on cUHDRS, along with reductions in cerebrospinal fluid neurofilament light chain (CSF NfL), will be sufficient for an accelerated approval of AMT-130. These recent developments reflect uniQure's progress in gene therapy, particularly with AMT-130 for Huntington's disease and AMT-162 for ALS.

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