Eiger BioPharmaceuticals Announces Proposed Public Offering of Common Stock

PRNewswire 17-Apr-2019 4:01 PM

PALO ALTO, Calif., April 17, 2019 /PRNewswire/ -- Eiger BioPharmaceuticals, Inc. (NASDAQ:EIGR) today announced that it has commenced an underwritten public offering of shares of its common stock.  All of the shares to be sold in the offering are to be sold by Eiger.  In addition, Eiger expects to grant the underwriters a 30-day option to purchase additional shares at the public offering price, less underwriting discounts and commissions.  The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.  

Eiger anticipates using the net proceeds from the offering to fund activities in connection with its Hepatitis Delta Virus (HDV) clinical programs, including advancing peginterferon lambda into a potentially registrational program, supporting pipeline activities, and working capital and general corporate purposes.

Citigroup and Jefferies are acting as the joint book-running managers of the offering.

A shelf registration statement on Form S-3, including a base prospectus, relating to the public offering of the shares of common stock described above was filed with the Securities and Exchange Commission (the "SEC") and is effective.  A preliminary prospectus supplement and the accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC's web site at www.sec.gov.  When available, copies of the preliminary prospectus supplement and accompanying prospectus may also be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York, 11717, or by telephone at (800) 831-9146, or from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at (877) 821-7388, or by e-mail at Prospectus_Department@Jefferies.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Eiger BioPharmaceuticals, Inc.
Eiger is a late stage biopharmaceutical company focused on the development and commercialization of targeted therapies for serious rare and ultra-rare diseases.  It innovates by developing well-characterized drugs in newly identified or novel targets in rare diseases.  Eiger's mission is to systematically reduce the time and cost of the drug development process to more rapidly deliver important medicines to patients. 

For additional information about Eiger and its clinical programs, please visit www.eigerbio.com.

Forward-Looking Information is Subject to Risk and Uncertainty
Certain of the statements made in this press release are forward looking, such as those, among others, relating to Eiger's expectations regarding the completion, use of proceeds and timing of the proposed public offering.  Actual results or developments may differ materially from those projected or implied in these forward-looking statements.  Factors that may cause such a difference include, without limitation, risks and uncertainties related to whether or not Eiger will be able to raise capital through the sale of shares of common stock, the final terms of the proposed offering, market and other conditions, the satisfaction of customary closing conditions related to the proposed public offering and the impact of general economic, industry or political conditions in the United States or internationally.  There can be no assurance that Eiger will be able to complete the proposed public offering on the anticipated terms, or at all. You should not place undue reliance on these forward-looking statements, which apply only as of the date of this press release.  Additional risks and uncertainties relating to the proposed offering, Eiger and its business can be found under the heading "Risk Factors" in Eiger's Annual Report on Form 10-K for the year ended December 31, 2018 and other filings with the SEC, and in the preliminary prospectus supplement related to the proposed offering to be filed with the SEC on or about the date hereof.  Except as otherwise required by law, Eiger does not undertake any obligation to update forward-looking statements and expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.

Contact: Ingrid Choong, PhD
Email: ichoong@eigerbio.com 
Phone: (650) 619-6115

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SOURCE Eiger BioPharmaceuticals, Inc.