Acceleron Pharma Inc. (NASDAQ: XLRN) today announced that it has priced an underwritten public offering of 4,864,864 shares of common stock at a price to the public of $92.50 per share for gross proceeds of $450.0 million. In connection with this offering, Acceleron has granted the underwriters a 30-day option to purchase up to an additional 729,729 shares of common stock.

J.P. Morgan, SVB Leerink and Cowen are acting as joint book-runners for the offering. Barclays, Credit Suisse, and Piper Sandler & Co. are also acting as joint book-running managers. H.C. Wainwright & Co. is acting as lead manager. The offering is expected to close on or about July 6, 2020, subject to the satisfaction of customary closing conditions.

Acceleron expects to receive net proceeds from the offering after deducting underwriting discounts and commissions and estimated offering expenses payable by the company of approximately $428.2 million. 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.