 BOSTON, July 02, 2021 GLOBE NEWSWIRE -- Aerovate Therapeutics, Inc. Nasdaq: AVTE, a clinical stage biopharmaceutical company focused on developing drugs that meaningfully improve the lives of patients with rare cardiopulmonary disease, today announced the closing of its upsized initial public offering of 9,984,463 shares of common stock, including the exercise in full by the underwriters of their option to purchase up to 1,302,321 additional shares of common stock, at a public offering price of 14.00 per share. The aggregate gross proceeds from the offering, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Aerovate, were approximately 139.8 million. All of the shares in the offering were sold by Aerovate. 