Latham & Watkins Advises on Reneo Pharmaceuticals’ Public Offering of Common Stock and Concurrent Private Placement

Reneo Pharmaceuticals, Inc. (Nasdaq: RPHM), a clinical-stage pharmaceutical company focused on the development and commercialization of therapies for patients with rare genetic mitochondrial diseases, has announced the pricing of its previously announced underwritten public offering of 6,875,000 shares of its common stock at a public offering price of US$8.00 per share for aggregate gross proceeds of approximately US$55.0 million, before deducting underwriting discounts and commissions and offering expenses. In addition, Reneo has granted the underwriters a 30-day option to purchase up to an additional 1,031,250 shares of its common stock at the public offering price, less the underwriting discounts and commissions. The offering is expected to close on or about May 8, 2023, subject to satisfaction of customary closing conditions. Reneo also entered into a securities purchase agreement with Abingworth Bioventures 8 LP for a concurrent private placement of common stock, for aggregate gross proceeds of up to approximately US$5.0 million.

Latham & Watkins LLP advised the underwriters and placement agents in the transaction, with a capital markets team led by San Diego partner Matt Bush, with Bay Area associate Raul Gonzalez, and San Diego associates Peter Simon and Sterling Swift.