DUBLIN, Ireland and TREVOSE, Pa., Jan. 25, 2018 (GLOBE NEWSWIRE) -- Strongbridge Biopharma plc (NASDAQ:SBBP) announced that it has priced its previously announced underwritten public offering of 5 million ordinary shares at a price to the public of $6.75 per share. The offering is expected to close on or about January 30, 2018 subject to satisfaction of customary closing conditions. Strongbridge granted the underwriters a 30-day option to purchase up to an additional 750,000 ordinary shares. Before deducting the underwriting discount and estimated offering expenses payable by the Company, the Company expects to receive gross proceeds of approximately $33.8 million, assuming no exercise of the underwriters’ option to purchase additional shares.
Cantor Fitzgerald & Co. is acting as the sole bookrunner for the offering. JMP Securities LLC is acting as the lead manager for the offering. Oppenheimer & Co. Inc. is acting as lead co-manager and H.C. Wainwright & Co. is acting as co-manager for the offering.
About Strongbridge Biopharma plc
Strongbridge Biopharma is a global commercial-stage biopharmaceutical company focused on the development and commercialization of therapies for rare diseases with significant unmet needs. Strongbridge's commercial portfolio within its rare neuromuscular and rare endocrine franchises includes Keveyis® (dichlorphenamide), the first and only FDA-approved treatment for hyperkalemic, hypokalemic, and related variants of primary periodic paralysis, and Macrilen™ (macimorelin), the first and only FDA-approved oral drug indicated for the diagnosis of adult growth hormone deficiency. The Company’s rare endocrine franchise also includes a clinical-stage pipeline of therapies: Recorlev™ (levoketoconazole), a cortisol synthesis inhibitor currently being studied for the treatment of endogenous Cushing's syndrome, and veldoreotide, a next-generation somatostatin analog being investigated for the treatment of acromegaly, with potential additional applications in other conditions amenable to somatostatin receptor activation.
