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NetworkNewsBreaks – Achaogen, Inc. (AKAO) Proposes Common Stock Public Offering, Proceeds to Advance Plazomicin

Company: Achaogen, Inc. (AKAO)
Category: Stock Spotlights

Achaogen (NASDAQ: AKAO) has initiated an underwritten public offering of up to 5,750,000 shares of its common stock, all of which are offered by the company. Additionally, Achaogen expects to grant the underwriters of the offering a 30-day option to purchase up to an additional 862,500 shares of common stock at the public offering price, less underwriting discounts and commissions. The company said it intends to use the net proceeds to fund the ongoing development and preparation for potential commercialization of its lead candidate plazomicin, for which the company yesterday announced positive results in phase 3 cUTI and CRE clinical trials. Any remaining proceeds will be used for working capital and general corporate purposes, including research and development of additional product candidates.

To view the full press releases, visit: http://nnw.fm/iwyG6 and  http://nnw.fm/6LShg

About Achaogen

Achaogen is a clinical-stage biopharmaceutical company passionately committed to the discovery, development, and commercialization of novel antibacterials to treat MDR gram-negative infections. Achaogen is developing plazomicin, Achaogen’s lead product candidate, for the treatment of serious bacterial infections due to MDR Enterobacteriaceae, including carbapenem-resistant Enterobacteriaceae. Achaogen’s plazomicin program is funded in part with a contract from the Biomedical Advanced Research and Development Authority. Plazomicin is the first clinical candidate from Achaogen’s gram-negative antibiotic discovery engine, and Achaogen has other programs in early and late preclinical stages focused on other MDR gram-negative infections. For more information visit www.achaogen.com

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NetworkNewsBreak (NNB) provides a rapid summary of corporate news that caught the attention of NetworkNewsWire (NNW). NNB keeps you up-to-date on active US Public Companies complementary to NNW’s broader scope as a provider of news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of journalists and writers, NNW is uniquely positioned to best serve private and public companies who need to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

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