Peptide News Digest

#Upsized-Offering

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Industry · View digest

Halozyme Prices Upsized $1.3 Billion of 1.50% Convertible Notes Due 2033, Using Part of the Proceeds to Repurchase 2027 and 2028 Notes

Halozyme priced $1.3 billion of 1.50% convertible senior notes due 2033 on Thursday, September 17, 2026, up from the $1.05 billion originally announced. Interest is payable semi-annually, and the initial conversion rate of 7.1509 shares per $1,000 of principal equals about $139.84 per share. Halozyme plans to spend about $162.5 million on capped call transactions, about $217.0 million to repurchase $151.7 million of its 2027 notes, and about $435.5 million to repurchase $220.0 million of its 2028 notes, with the rest for general corporate purposes including potential acquisitions. Closing was expected on September 22, 2026. Halozyme's ENHANZE drug delivery technology is used in ten commercialized products and is licensed to companies including Roche, Takeda, Pfizer, Janssen, AbbVie, Eli Lilly, Bristol Myers Squibb, and argenx.

Industry · View digest

Amylyx Pharmaceuticals (NASDAQ: AMLX) Upsized Its Underwritten Public Offering to $500.2 Million From the Initial $350 Million Announcement, Pricing 14,090,000 Shares of Common Stock at $35.50 per Share Wednesday August 19, 2026 With Expected Closing August 21 and an Underwriter 30-Day Option for an Additional 2,113,500 Shares That Would Bring Total Raise Capacity to Roughly $575 Million (Before Underwriting Discounts and Commissions); Use of Proceeds: Avexitide (Exendin 9-39, a Peptide GLP-1 Receptor Antagonist) Commercial Launch Preparation Following the Monday LUCIDITY Phase 3 Win, NDA Submission Activities (Planned End of 2026), AMX0318 IND-Enabling Studies, and General Corporate Purposes; New Investors Will Experience Substantial Immediate Dilution Relative to the Public Offering Price, With 111,368,283 Shares Outstanding as of June 30, 2026 Now Growing by 12.6% on Base Offering and 14.5% Including the Overallotment

Amylyx Pharmaceuticals (NASDAQ: AMLX) upsized its underwritten public offering to $500.2 million from the initial $350 million announcement, pricing 14,090,000 shares of common stock at $35.50 per share Wednesday August 19, 2026. Expected closing: August 21, 2026, subject to customary closing conditions. Underwriter 30-day option: additional 2,113,500 shares at the same price less underwriting discounts and commissions, which would bring total raise capacity to roughly $575 million if fully exercised. Use of proceeds: avexitide (exendin 9-39, a peptide GLP-1 receptor antagonist) commercial launch preparation following the Monday August 18 LUCIDITY Phase 3 primary endpoint hit (55% reduction in composite Level 2/3 hypoglycemic events, p=0.000003, in post-bariatric hypoglycemia), NDA submission activities planned for end of 2026, AMX0318 (long-acting GLP-1 receptor antagonist candidate) IND-enabling studies with IND filing targeted 2027, and general corporate purposes. Dilution: as of June 30, 2026, Amylyx reported 111,368,283 shares outstanding; the 14.09 million new shares represent roughly 12.6% dilution on the base offering and 14.5% dilution including the underwriter overallotment. The upsize from $350M to $500.2M reflects the strong demand generated by the LUCIDITY win and the analyst reception (Guggenheim $55 PT, Mizuho $30, H.C. Wainwright $20, Seeking Alpha Strong Buy upgrade). Amylyx also expanded its board of directors as part of the capital markets round.