Acceleron Pharma Inc. (Nasdaq: XLRN) announced that it intends to offer and sell, subject to market and other conditions, $400 million of its common stock in an underwritten public offering. As part of this offering, Acceleron intends to grant the underwriters a 30-day option to purchase up to an additional fifteen percent (15%) of the shares of common stock offered in the public offering. All of the shares in the proposed offering are to be sold by Acceleron.

J.P. Morgan, SVB Leerink and Cowen are acting as joint book-running managers for the offering. Barclays, Credit Suisse, and Piper Sandler & Co. are also acting as joint book-running managers.

Acceleron intends to use the net proceeds from the offering to conduct clinical trials and associated activities in connection with its therapeutic candidates in its pulmonary programs; to prepare for the potential launch and commercialization of sotatercept; and the remainder for general corporate purposes, including potential future development programs, capital expenditures and working capital, as well as potential acquisitions of rights to additional programs from third parties.