Apogee Therapeutics resumes climb after $350 mln share sale

Jefferies Financial

25/03/2026 14:14

** Apogee Therapeutics APGE.O shares up 13.3% at $82.68 early Weds after $350 mln follow-on offering priced

** Waltham, Massachusetts-based firm late Tues announced 5 mln shares at $70, a 4.1% discount to last sale

** On Tues, APGE shares finished down nearly 8% after co commenced $300 mln offering on heels of encouraging eczema drug data

** On Mon, stock jumped 20% after the drug, zumilokibart, showed lasting benefit in people with moderate-to-severe atopic dermatitis, in mid-stage trial

** APGE intends to use net offering proceeds to fund preclinical studies, clinical trials, manufacturing, and commercial readiness activities, among other purposes

** Jefferies, TD Cowen, Stifel and Guggenheim joint bookrunners

** With move on the session, stock has roughly doubled over the past year

** Avg rating among 17 brokerages is "buy"; median PT of $118 implies ~43% upside to current levels, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))