Aquinox Announces Closing Of $75.4 Million Public Offering Of Common Stock

VANCOUVER, British Columbia, Sept. 23, 2016 (GLOBE NEWSWIRE) -- Aquinox Pharmaceuticals, Inc. (“Aquinox”) (Nasdaq:AQXP), a clinical-stage pharmaceutical company discovering and developing targeted therapeutics in disease areas of inflammation and immuno-oncology, today announced the closing of its previously announced underwritten public offering of 6,152,500 shares of its common stock, including 802,500 shares sold pursuant to the underwriters’ full exercise of their option to purchase additional shares, at a price to the public of $12.25 per share. The gross proceeds from the offering (inclusive of the option exercise), before underwriting discounts and commissions and offering costs, are $75.4 million.

Aquinox intends to use the net proceeds from the offering to fund additional clinical development of AQX-1125 and to fund pre-commercial and market assessment activities, research and development costs to advance its pipeline of preclinical product candidates and for working capital and other general corporate purposes.

Leerink Partners LLC, Canaccord Genuity and Guggenheim Securities acted as joint book-running managers for the offering. Needham & Company acted as lead manager.

The securities described above were offered by Aquinox pursuant to a registration statement previously filed with and declared effective by the Securities and Exchange Commission (SEC). A final prospectus supplement and accompanying prospectus relating to this offering has been filed with the SEC and is available on the SEC’s website at http://www.sec.gov/. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained from Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA, 02110, by telephone at (800) 808-7525 ext. 6142 or by email at syndicate@leerink.com; from Canaccord Genuity Inc., Attn: Syndicate Department, 99 High Street, Floor 12, Boston, MA 02110, by telephone at (617) 371-3900 or by email at prospectus@canaccordgenuity.com; or from Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, by telephone at (212) 518-9658 or by email at GSEquityProspectusDelivery@guggenheimpartners.com.

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