APGE: Acquired by ABBV for ~$10.9Bn

Research evidence excerpt

APGE: Acquired by ABBV for ~$10.9Bn

USA | Biotechnology

Apogee EquityJuneResearch22, 2026

FLASH NOTEAPGE: Acquired by ABBV for ~$10.9Bn

AbbVie (ABBV) is acquiring Apogee Therapeutics (APGE) for $135.11/share or RATING RESTRICTED

total equity value of ~$10.9Bn in an all-cash transaction, expected to close PRICE $90.38^

Q3'26. PRICE TARGET | NA |

52W HIGH-LOW $95.32 - $34.34

**Jefferies LLC is serving as financial advisor to Apogee Therapeutics (NASDAQ: APGE) in FLOAT (%) | ADV MM (USD) 74.0% | 92.42

connection with Abbvie's (NYSE: ABBV) acquisition of the company** MARKET CAP $6.3B

Bottom line: AbbVie (ABBV) is acquiring Apogee Therapeutics (APGE) for $135.11/share or total TICKER APGE

equity value of ~$10.9Bn in an all-cash transaction, with ABBV's deck citing a ~49% premium to the ^Prior trading day's closing price unless otherwise noted.

closing price on 06/18/2026. The acquisition is expected to close Q3'26 & provides ABBV with lead

asset zumilokibart (anti-IL-13 mAb), along w/ combination opportunities e.g. with APG333 (anti-

TSLP).

According to the press release/deck, ABBV believes that: A) APGE's portfolio of products is

complementary to ABBV's existing immunology portfolio, B) zumi has the potential for best-in-

category efficacy in atopic derm w/ potential for substantially lower injection burden, C) ABBV's

deck cites an expansion opportunity for zumi where IL-13 plays a role e.g. EoE, CPUO, CSU, PN for

zumi mono, or in combo w/ TSLP (APG333) for asthma, COPD, CRSwNP.

According to the press release and accompanying deck, ABBV states APGE's pipeline represents

mega-blockbuster collective peak sales potentia, w/ zumi in AD making up the most substantial

component of deal value.

Akash Tewari * | Equity Analyst

1 (212) 284-3416 | atewari@jefferies.com