Strongbridge Biopharma plc Announces Proposed Public Offering of Ordinary Shares
October 03 2017 - 4:03PM
Strongbridge Biopharma plc (NASDAQ:SBBP) (the “Company”) today
announced that it intends to offer and sell its ordinary shares in
an underwritten public offering. The Company also intends to
grant the underwriters a 30-day option to purchase up to an
additional 15% of the number of ordinary shares sold in the
offering. The offering is subject to market and other
conditions and there can be no assurance as to whether or when the
offering may be completed, or as to the actual size or terms of the
offering.
Cantor Fitzgerald & Co. is acting as the sole
book-running manager for the offering.
The Company intends to use the net proceeds from
the offering for investment in expanded commercial infrastructure
for KEVEYIS, continued development of RECORLEV and
veldoreotide, commercialization expenditures, and for 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 its existing business, and general and
administrative expenses.
A shelf registration statement relating to the
ordinary shares was previously filed with the Securities and
Exchange Commission (the “SEC”) and declared effective on May 8,
2017. A preliminary prospectus supplement and accompanying
prospectus relating to the offering will be filed with the SEC and
will be available on the SEC’s website. Copies of the preliminary
prospectus supplement (when available) and accompanying prospectus
may be obtained from Cantor Fitzgerald & Co., Attention:
Capital Markets, 499 Park Ave., 6th Floor, New York, New York
10022, or by e-mail at prospectus@cantor.com.
This press release shall not constitute an offer to
sell or the solicitation of an offer to buy these securities, nor
shall there be any sale of these securities in any state or other
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or other jurisdiction. Any offer,
if at all, will be made only by means of the prospectus supplement
and accompanying prospectus forming a part of the effective
registration statement.
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 first commercial product is KEVEYIS®
(dichlorphenamide), the first and only FDA-approved treatment for
hyperkalemic, hypokalemic, and related variants of Primary Periodic
Paralysis. KEVEYIS has orphan drug exclusivity status in the U.S.
through August 7, 2022. In addition to establishing this
neuromuscular disease franchise, the Company has a clinical-stage
pipeline of therapies for rare endocrine diseases. Strongbridge’s
lead compounds include 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 Cushing’s
syndrome and neuroendocrine tumors. Both RECORLEV and veldoreotide
have received orphan designation from the U.S. Food and Drug
Administration and the European Medicines Agency.
“Safe Harbor” Statement Under the Private
Securities Litigation Reform Act of 1995
This press release contains forward-looking
statements within the meaning of the federal securities laws. These
statements involve risks and uncertainties that could cause actual
results to differ materially, including, but not limited to,
whether or not Strongbridge will be able to raise capital through
the sale of ordinary shares or consummate the offering, the final
terms of the offering, the satisfaction of customary closing
conditions, prevailing market conditions, the anticipated use of
the proceeds of the offering, which could change as a result of
market conditions or for other reasons, and the impact of general
economic, industry or political conditions in the United States or
internationally. Additional risks and uncertainties relating to the
proposed offering, Strongbridge and its business can be found under
the heading “Risk Factors” in Strongbridge’s annual report on Form
20-F for the year ended December 31, 2016, filed with the SEC on
April 4, 2017, its Report on Form 6-K filed with the SEC on August
7, 2017, and in the preliminary prospectus supplement and
accompanying prospectus relating to the offering to be filed with
the SEC. Strongbridge assumes no duty or obligation to update or
revise any forward-looking statements for any reason.
Contacts:
Corporate and Media Relations
Elixir Health Public Relations Lindsay Rocco +1 862-596-1304
lrocco@elixirhealthpr.com
Investor RelationsU.S.:The Trout
Group Marcy Nanus +1 646-378-2927 mnanus@troutgroup.com
Europe:First HouseMitra Hagen
Negård+47 21 04 62 19strongbridgebio@firsthouse.no
USA 900 Northbrook Drive Suite 200
Trevose, PA 19053 Tel. +1 610-254-9200 Fax. +1
215-355-7389
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