Alvotech Terminates Sales Agreement with Jefferies
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 4 days ago
0mins
On June 15, Alvotech (ALVO) notified Jefferies (JEF) that it was suspending its use of and terminating the prospectus supplement related to the potential issuance from time to time of the company's ordinary shares pursuant to the Open Market Sale Agreement dated June 14, 2024, by and between the company and Jefferies. The company will not make any sales of its securities pursuant to the Sales Agreement unless and until a new prospectus supplement or a new registration statement is filed. Other than the termination of the ATM Prospectus Supplement, the Sales Agreement remains in full force and effect.
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Analyst Views on ALVO
Wall Street analysts forecast ALVO stock price to rise
4 Analyst Rating
3 Buy
0 Hold
1 Sell
Moderate Buy
Current: 3.915
Low
5.00
Averages
8.75
High
10.00
Current: 3.915
Low
5.00
Averages
8.75
High
10.00
About ALVO
Alvotech SA is a biotechnology company. The Company is focused on the development and manufacture of biosimilar medicines for patients globally. It is engaged in developing a pipeline of monoclonal antibodies that target a variety of therapeutic areas including inflammatory diseases, oncology, and ophthalmology. The Company’s pipeline contains eight biosimilar candidates aimed at treating autoimmune disorders, eye disorders, osteoporosis, respiratory disease, and cancer. Its products pipeline includes AVT02, AVT04, AVT23, AVT03, AVT05, AVT06, AVT16, and AVT33. Its AVT02 is a monoclonal antibody and a biosimilar to Humira (adalimumab). AVT04 is a monoclonal antibody and a biosimilar candidate to Stelara (ustekinumab). It has formed a network of strategic commercial partnerships to provide global reach and leverage expertise in markets that include the United States (U.S.), Europe, Japan, China, and other Asian countries and large parts of South America, Africa, and the Middle East.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Alvotech Completes $165 Million Public Offering and Private Placement
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- Concurrent Private Placement: Alongside the public offering, Alvotech entered into subscription agreements with professional investors to issue 17,826,666 ordinary shares at the same price, expected to raise around $67 million, thereby enhancing the company's financial strength.
- Clear Use of Proceeds: The net proceeds from both the offering and private placement will be allocated to the continued development of biosimilar assets, working capital, and general corporate purposes, including intellectual property protection and clinical development, demonstrating the company's strategic planning for future growth.
- Capital Structure Adjustment: Following the completion of the offering, Alvotech's total share capital will amount to 390,431,480 shares, reflecting the company's active presence in the capital markets and its attractiveness to investors, further solidifying its position in the biopharmaceutical sector.
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- Use of Proceeds: The funds raised will be allocated towards advancing the development of its biosimilar assets and supporting working capital and general corporate purposes, reflecting the company's ongoing commitment to innovation in the biotechnology sector.
- Shareholder Participation: The Alvotech Board has approved the issuance of $43.89 million in shares to investors participating in the offering and concurrent private placement, with total issued share capital expected to reach approximately 39.04 million shares, thereby strengthening the company's capital structure.
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- Stock Performance: Alvotech's stock has traded between $2.94 and $9.94 over the past year, closing at $4.24, although pre-market trading shows a 10.38% drop to $3.80, reflecting cautious market sentiment regarding the financing news.
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- Private Placement Agreements: The company has entered into subscription agreements with certain institutional investors in the European Economic Area to sell 17.83 million ordinary shares at the same price, anticipated to generate about $67 million in gross proceeds, further strengthening its capital base.
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See More
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- Offering Size: Alvotech has announced a public offering of 22,666,667 ordinary shares at a price of $3.75 per share, expected to close on June 17, 2026, with anticipated gross proceeds of approximately $85 million, increasing to $98 million if underwriters fully exercise their purchase option.
- Concurrent Private Placement: Alongside the public offering, Alvotech has entered into agreements with certain professional investors to issue 17,826,666 ordinary shares at the same price, expected to generate approximately $67 million, further enhancing the company's liquidity.
- Use of Proceeds: The net proceeds from this offering will be allocated to the development of biosimilar assets, working capital, and general corporate purposes, including intellectual property protection and clinical development, indicating a strategic focus on future growth.
- Underwriter Lineup: BofA Securities, Jefferies, and Evercore ISI are acting as joint book-running managers for the offering, ensuring professionalism and market credibility, which boosts investor confidence.
See More
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- Offering Details: Alvotech has priced its public offering of 22,666,667 ordinary shares at $3.75 per share, with expected gross proceeds of approximately $85 million, potentially rising to $98 million if underwriters fully exercise their option, expected to close around June 17, 2026.
- Concurrent Private Placement: Alongside the public offering, Alvotech has entered into agreements to sell 17,826,666 shares at the same price to select investors, anticipating gross proceeds of about $67 million, with a closing date around June 25, 2026.
- Use of Proceeds: The net proceeds from both the offering and private placement will be directed towards the development of biosimilar assets, working capital, and general corporate purposes, including intellectual property protection and clinical development.
- Strategic Market Positioning: This financing is set to enhance Alvotech's competitive edge in the global biosimilars market, reinforcing its strategic partnerships across the U.S., Europe, and Asia, thereby supporting its growth trajectory in the industry.
See More
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- Successful Offering: Alvotech closed its public offering of 26,066,667 ordinary shares at $3.75 per share on June 17, 2026, generating approximately $98 million in gross proceeds, indicating strong market demand for its biosimilar products.
- Concurrent Private Placement: Alongside the public offering, Alvotech entered into subscription agreements with professional investors to issue 17,826,666 ordinary shares at the same price, expected to raise around $67 million, thereby enhancing the company's financial strength.
- Clear Use of Proceeds: The net proceeds from both the offering and private placement will be allocated to the continued development of biosimilar assets, working capital, and general corporate purposes, including intellectual property protection and clinical development, demonstrating the company's strategic planning for future growth.
- Capital Structure Adjustment: Following the completion of the offering, Alvotech's total share capital will amount to 390,431,480 shares, reflecting the company's active presence in the capital markets and its attractiveness to investors, further solidifying its position in the biopharmaceutical sector.
See More
Alvotech Closes $26.07 Million Public Offering
- Offering Amount: Alvotech announced the closing of a $26.07 million public offering at a price of $3.75 per share, with a concurrent offering expected to raise an additional $17.83 million, leading to total gross proceeds of approximately $165 million, indicating strong market interest in the company.
- Use of Proceeds: The funds raised will be allocated towards advancing the development of its biosimilar assets and supporting working capital and general corporate purposes, reflecting the company's ongoing commitment to innovation in the biotechnology sector.
- Shareholder Participation: The Alvotech Board has approved the issuance of $43.89 million in shares to investors participating in the offering and concurrent private placement, with total issued share capital expected to reach approximately 39.04 million shares, thereby strengthening the company's capital structure.
- Market Performance: Although the company's stock is currently trading at $3.87, down 1.15%, the successful completion of this offering may provide essential funding for future growth and enhance investor confidence in the company's prospects.
See More
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- Funding Size: Alvotech successfully raised $152 million through a public offering and private placement, with the public offering priced at $3.75 per share for 22,666,667 shares, expected to close on June 17, 2026, to support the ongoing development of its biosimilar pipeline.
- Private Placement Details: Subscription agreements with European Economic Area investors will sell 17,826,666 shares at the same $3.75 per share, expected to generate $67 million, scheduled to close on June 25, 2026, further supporting the company's capital needs.
- Use of Funds: The proceeds will be allocated to the development of biosimilar assets, working capital, intellectual property protection, commercial expenditures, and potential acquisitions or collaborations, indicating a strategic focus on future growth.
- Stock Performance: Alvotech's stock has traded between $2.94 and $9.94 over the past year, closing at $4.24, although pre-market trading shows a 10.38% drop to $3.80, reflecting cautious market sentiment regarding the financing news.
See More
Alvotech Announces Public Offering and Private Placement to Raise $152M
- Public Offering Pricing: Alvotech has priced its public offering of 22.67 million ordinary shares at $3.75 per share, expecting to raise approximately $85 million in gross proceeds, which will be utilized to advance the development of its biosimilar pipeline.
- Private Placement Agreements: The company has entered into subscription agreements with certain institutional investors in the European Economic Area to sell 17.83 million ordinary shares at the same price, anticipated to generate about $67 million in gross proceeds, further strengthening its capital base.
- Total Financing Expectations: The combined public offering and private placement are expected to raise approximately $152 million, with the potential to reach $165 million if underwriters fully exercise their purchase option, providing robust financial support for the company's future growth.
- Stock Price Volatility Impact: Despite the seemingly positive financing plans, Alvotech's stock price fell about 8% during after-market trading on Monday, reflecting the market's short-term reaction to the company's financing strategy and its potential impact on shareholder confidence.
See More
Alvotech Prices Public Offering of 22,666,667 Shares at $3.75 Each
- Offering Size: Alvotech has announced a public offering of 22,666,667 ordinary shares at a price of $3.75 per share, expected to close on June 17, 2026, with anticipated gross proceeds of approximately $85 million, increasing to $98 million if underwriters fully exercise their purchase option.
- Concurrent Private Placement: Alongside the public offering, Alvotech has entered into agreements with certain professional investors to issue 17,826,666 ordinary shares at the same price, expected to generate approximately $67 million, further enhancing the company's liquidity.
- Use of Proceeds: The net proceeds from this offering will be allocated to the development of biosimilar assets, working capital, and general corporate purposes, including intellectual property protection and clinical development, indicating a strategic focus on future growth.
- Underwriter Lineup: BofA Securities, Jefferies, and Evercore ISI are acting as joint book-running managers for the offering, ensuring professionalism and market credibility, which boosts investor confidence.
See More
Alvotech Prices Public Offering of 22.67 Million Shares
- Offering Details: Alvotech has priced its public offering of 22,666,667 ordinary shares at $3.75 per share, with expected gross proceeds of approximately $85 million, potentially rising to $98 million if underwriters fully exercise their option, expected to close around June 17, 2026.
- Concurrent Private Placement: Alongside the public offering, Alvotech has entered into agreements to sell 17,826,666 shares at the same price to select investors, anticipating gross proceeds of about $67 million, with a closing date around June 25, 2026.
- Use of Proceeds: The net proceeds from both the offering and private placement will be directed towards the development of biosimilar assets, working capital, and general corporate purposes, including intellectual property protection and clinical development.
- Strategic Market Positioning: This financing is set to enhance Alvotech's competitive edge in the global biosimilars market, reinforcing its strategic partnerships across the U.S., Europe, and Asia, thereby supporting its growth trajectory in the industry.
See More
