trending Market Intelligence /marketintelligence/en/news-insights/trending/ul4lf4kpr63cbivcmxoa9q2 content esgSubNav
In This List

Strongbridge Biopharma plans ordinary shares offering

Case Study

Identifying PPE Suppliers During the Pandemic


Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage


COVID-19 Impact & Recovery: Healthcare Outlook for H2 2021


Corporate Credit Risk Trends in Developing Markets: A Loss Given Default (LGD) Perspective

Strongbridge Biopharma plans ordinary shares offering

Trevose, Pa.-based Strongbridge Biopharma PLC plans to sell 9 million ordinary shares in an underwritten public offering.

Underwriters will be given an option to buy up to an additional 1,350,000 shares in the offering.

The biopharmaceutical company said it plans to use net proceeds to support activities related to paralysis drug Keveyis and adult growth hormone deficiency drug Macrilen. In January, Strongbridge acquired rights to Macrilen in the U.S. and Canada from Aeterna Zentaris Inc.

A portion of the proceeds will be used to fund development and regulatory activities for Recorlev for Cushing's syndrome, and for general corporate purposes, including working capital, capital expenditures, acquisitions and general and administrative expenses.

Cowen and Stifel are acting as the joint book-running managers, with JMP Securities as lead manager. MTS Securities LLC is the company's financial adviser in the offering.

Strongbridge Biopharma develops and sells therapies for rare diseases with significant unmet needs.