On June 4, 2020 Aileron Therapeutics (NASDAQ: ALRN) reported that the pricing of an underwritten public offering of 9,090,910 shares of its common stock at a public offering price of $1.10 per share, for aggregate gross proceeds of $10.0 million, before deducting underwriting discounts and commissions and offering expenses payable by Aileron (Press release, Aileron Therapeutics, JUN 4, 2020, View Source [SID1234560864]). In addition, Aileron has granted the underwriter a 30-day option to purchase up to 1,363,636 additional shares of common stock at the public offering price, less the underwriting discounts and commissions. All of the shares are being sold by Aileron. The offering is expected to close on June 8, 2020, subject to the satisfaction of customary closing conditions.

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Aileron expects to use the net proceeds from the offering, together with its existing cash, cash equivalents and short-term investments, to fund clinical development of ALRN-6924 as a chemoprotective agent and for working capital and other general corporate purposes.

William Blair & Company, L.L.C. is acting as sole book-running manager for the offering.

The shares are being offered pursuant to an effective shelf registration statement that was filed with the Securities and Exchange Commission (SEC) on July 1, 2019 and declared effective by the SEC on July 15, 2019.

This offering is being made only by means of a prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement relating to and describing the terms of the offering has been filed with the SEC and may be obtained for free by visiting the SEC’s website at www.sec.gov. The final prospectus supplemented relating to the offering will be filed with the SEC. When available, copies of the final prospectus supplement and the accompanying prospectus may also be obtained by contacting William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, or by calling (800) 621-0687, or emailing [email protected].

This release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state.