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Strongbridge Biopharma closes share offering

Strongbridge Biopharma plc closed its underwritten public offering of 4 million shares for net proceeds of about $23.4 million.

The company plans to use net proceeds to advance its drug pipeline, including Keveyis to treat primary periodic paralysis and Recorlev to treat Cushing's syndrome, and for other general corporate purposes and general and administrative expenses.

Cantor Fitzgerald & Co. acted as the sole book-running manager and Oppenheimer & Co. Inc. and H.C. Wainwright & Co. LLC acted as co-managers for the offering.