Strongbridge Biopharma (SBBP) Prices 11.11M Share Common Offering at $2.25/Sh

Strongbridge Biopharma plc, (NASDAQ: SBBP), a global commercial-stage biopharmaceutical company focused on the development and commercialization of therapies for rare diseases with significant unmet needs, today announced that it has priced its previously announced underwritten public offering. The Company is offering 11,111,111 ordinary shares at a price to the public of $2.25 per share for total gross proceeds of approximately $25.0 million, before deducting the underwriting discount and estimated offering expenses payable by the Company. The offering is expected to close on or about September 21, 2020, subject to the satisfaction of customary closing conditions. In addition, the Company granted the underwriters a 30-day option to purchase up to an additional 1,666,666 ordinary shares on the same terms and conditions.

Jefferies and Stifel are acting as the joint book-running managers for the offering. JMP Securities and Oppenheimer & Co. are acting as lead managers for the offering. MTS Securities, LLC is serving as a financial advisor to the Company in the offering.

The Company intends to use the net proceeds from this offering to (i) continue development and regulatory activities, facilitate commercial readiness and commercially launch Recorlev primarily in the United States, (ii) support the life cycle management activities of Keveyis, and (iii) support other general corporate purposes, which may include working capital, capital expenditures, acquisition of additional technologies or other forms of intellectual property, acquisition of assets or businesses that are complementary to our existing business, and general and administrative expenses.

You May Also Be Interested In

• Daré Bioscience CEO discusses pipeline and commercial shift
• Vivakor raises 2026 supply and trading outlook to $3.5 billion
• Beyond Air to sell NeuroNOS stake to Univo for equity and milestones