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Strongbridge completes $33.8M stock sale

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3.0 from 18 votes
Monday, February 05, 2018

Strongbridge Biopharma completed a $33.8 million public stock offering this week.

The company plans to use the proceeds to expand its commercial infrastructure for its two approved products. Those products are Keveyis, a pediatric paralysis treatment, and Macrilen, a treatment for adult growth hormone deficiency that Strongbridge acquired last month for $24 million.

The funds will also be used to continue development of the company's clinical-stage product candidates Recorlev, which is being conceived as a treatment for Cushing's Syndrome, and Veldoreotide, an experimental treatment for a excess growth hormone disorder known as acromegaly.

Strongbridge (NASDAQ:SBBP), which is based in Dublin, Ireland, and has its U.S. headquarters in Trevose, Bucks County, sold 5 million ordinary shares of its common stock at $6.75 per share.

Cantor Fitzgerald & Co. acted as the sole bookrunner for the offering. JMP Securities LLC was lead manager, with Oppenheimer & Co. Inc. and H.C. Wainwright & Co. serving as co-managers.

Contacts:
Strongbridge Biopharma
900 Northbrook Dr #200, Feasterville-Trevose, PA 1905

Media:
Email: media@strongbridgebio.com

Phone: 610-254-9200

Source: Strongbridge Biopharma plc
2.88235294118
3.0 from 18 votes
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