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Dermira closes $149.5M common stock offering

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Dermira closes $149.5M common stock offering

Dermira Inc. closed an underwritten public offering of 11,283,019 of its common shares at $13.25 apiece for gross proceeds of about $149.5 million.

The shares sold included the full exercise of the underwriters' option to buy 1,471,698 additional common shares to cover overallotments in the offering.

Citigroup, Cowen, Cantor Fitzgerald & Co. and Guggenheim Securities acted as book runners, and Needham & Co. and H.C. Wainwright & Co. acted as co-managers for the offering.

Menlo Park, Calif.-based Dermira develops and commercializes therapies for patients with dermatologic diseases.