Alder BioPharmaceuticals Announces Closing of Public Offering of Common Stock

BOTHELL, Wash., July 18, 2017 -- Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR), a clinical-stage biopharmaceutical company developing its solely-owned pivotal-stage product candidate eptinezumab as the only anti-CGRP monoclonal antibody for the prevention of migraine administered via infusion, announced today the closing of its previously announced public offering of common stock at a public offering price of $10.00 per share. Net proceeds from the offering of an aggregate of 17,250,000 shares, including 2,250,000 shares sold pursuant to the underwriters’ exercise in full of their option to purchase additional shares, were approximately $161.5 million, after underwriting discounts and commissions and estimated offering expenses.

Alder intends to use the net proceeds from the offering, together with other available funds, to fund the continued development of eptinezumab, including completion of the ongoing infusion pivotal trial program, the planned submission of a Biologics License Application (BLA) to the U.S. Food and Drug Administration (FDA), establishment of the commercial drug supply chain and other commercialization activities, and for working capital and general corporate purposes.

Leerink Partners LLC and Wells Fargo Securities, LLC acted as joint book-running managers for the offering. Needham & Company, LLC acted as co-manager for the offering.

A shelf registration statement relating to the offering was filed with the Securities and Exchange Commission (SEC), and was effective on filing on February 23, 2017.  The final prospectus supplement and the accompanying prospectus related to the offering have been filed with the SEC and are available on the SEC’s website, located at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained from Leerink Partners LLC, Attn: Syndicate Department, One Federal Street, 37th Floor, Boston, MA  02110, by telephone at (800) 808-7525, ext. 6132 or by email at [email protected]; or from Wells Fargo Securities, LLC, Attn: Equity Syndicate Department, 375 Park Avenue, New York, NY 10152, by telephone at (800) 326-5897 or by email at [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 jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements

Certain of the statements made in this press release are forward looking, such as those, among others, relating to Alder’s expectations regarding its anticipated use of net proceeds from the offering and the continued development of eptinezumab, including completion of the ongoing infusion pivotal trial program, the planned submission of a BLA submission to the FDA and establishment of the commercial drug supply chain. Actual results or developments may differ materially from those projected or implied in these forward-looking statements. Information about the risks and uncertainties faced by Alder is contained in the section captioned “Risk Factors” in the prospectus supplement related to the public offering filed with the SEC and other filings with the SEC from time to time. Alder disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Media Contact:
David Schull                                        
Russo Partners, LLC                          
(212) 845-4271                                               
[email protected]

Investor Relations Contact:
David Walsey
Alder BioPharmaceuticals, Inc.
(425) 408-8032
[email protected]