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Gemphire Therapeutics starts common stock offering

Gemphire Therapeutics Inc. initiated an underwritten public offering of its common shares.

The company also plans to grant the underwriters an option to buy up to an additional 15% of the common shares.

Gemphire plans to use the net proceeds from the offering for working capital and general corporate purposes.

Piper Jaffray & Co. is acting as the lead book-running manager and Raymond James & Associates Inc. is acting as a book runner for the offering.