SEC Filings

424B5
AVEXIS, INC. filed this Form 424B5 on 06/19/2017
Entire Document
 

Table of Contents


USE OF PROCEEDS

          We estimate that the net proceeds from this offering will be approximately $187.3 million (or $215.5 million if the underwriters exercise in full their option to purchase $30,000,000 of additional shares), after deducting the estimated underwriting discounts and commissions and estimated offering expenses payable by us.

          As of March 31, 2017, we had cash and cash equivalents of $204.5 million. We intend to use the net proceeds from this offering, together with our existing cash and cash equivalents, as follows:

    Approximately $85 million to $115 million to fund our research and manufacturing activities to support our programs in SMA, Rett syndrome and ALS, including the establishment of research lab activities for preclinical and process development and quality control testing, process development activities and contract manufacturing organization partnership activities;

    Approximately $50 million to $55 million to fund our planned clinical trials of AVXS-101 in SMA, including our pivotal trials in SMA Type 1 in the United States and Europe and our planned Phase 1/2a trial of AVXS-101 in SMA Type 2 in the United States;

    Approximately $40 million to $50 million to fund our programs for Rett syndrome and ALS, including IND-enabling preclinical studies and the submission of an IND for each indication, and the initiation of Phase 1 clinical trials for each program; and

    The balance for other general corporate purposes, including general and administrative expenses and working capital.

          Our expected use of net proceeds from this offering represents our current intentions based upon our present plans and business condition. As of the date of this prospectus supplement, we cannot predict with complete certainty all of the particular uses for the net proceeds to be received upon the completion of this offering or the actual amounts that we will spend on the uses set forth above. We believe opportunities may exist from time to time to expand our current business through the acquisition or in-license of complementary product candidates. While we have no current agreements for any specific acquisitions or in-licenses at this time, we may use a portion of the net proceeds for these purposes.

          The amounts and timing of our actual expenditures will depend on numerous factors, including the progress of our clinical trials and other development and commercialization efforts for AVXS-101 and our other product candidates, as well as the amount of cash used in our operations. We therefore cannot estimate with certainty the amount of net proceeds to be used for the purposes described above. We may find it necessary or advisable to use the net proceeds for other purposes, and we will have broad discretion in the application of the net proceeds. Pending the uses described above, we plan to invest the net proceeds from this offering in short- and intermediate-term, interest-bearing obligations, investment-grade instruments, certificates of deposit or direct or guaranteed obligations of the U.S. government.

S-13



© AveXis, Inc. All Rights Reserved.