Argos Therapeutics, Inc. raised $50.0 million in its follow-on offering at $5.50 per share of common stock and accompanying warrants . Needham acted as the lead manager on the transaction. The net proceeds from the sale of the shares from the offering will be used by Argos Therapeutics, Inc. to fund their pivotal Phase 3 ADAPT trial of AGS-003, the ongoing and planned investigator-initiated Phase 2 clinical trials of AGS-003, their share of the expected costs of the leasing, build-out and equipping of a commercial manufacturing facility and activities in preparation for the submission of a BLA to the FDA for AGS-003, and for working capital and other general corporate purposes.
Argos Therapeutics (NASDAQ: ARGS) is an immuno-oncology company focused on the development and commercialization of individualized immunotherapies for the treatment of cancer and infectious diseases using its Arcelis® technology platform. Argos' most advanced product candidate, AGS-003, is being evaluated in the pivotal ADAPT Phase 3 clinical trial for the treatment of metastatic renal cell carcinoma (mRCC). In addition, AGS-003 is being studied in Phase 2 investigator-initiated clinical trials as neoadjuvant therapy for renal cell carcinoma (RCC) and for the treatment of non-small cell lung cancer (NSCLC). Argos is also developing a separate Arcelis®-based product candidate, AGS-004, for the treatment of human immunodeficiency virus (HIV), which is currently being evaluated in an investigator-initiated Phase 2 clinical trial aimed at HIV eradication in adult patients.