 BOSTON, June 29, 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 pricing of its upsized initial public offering of 8,682,142 shares of common stock at a public offering price of 14.00 per share, before underwriting discounts and commissions. In addition, Aerovate has granted the underwriters a 30-day option to purchase up to an additional 1,302,321 shares of common stock at the initial public offering price per share, less the underwriting discounts and commissions. All of the shares are being offered by Aerovate. The gross proceeds of the offering, before deducting underwriting discounts and commissions, and other offering expenses payable by Aerovate, are expected to be approximately 121.5 million, excluding any exercise of the underwriters option to purchase additional shares. 