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Flexion Therapeutics starts common stock offering

Flexion Therapeutics Inc. started an underwritten public offering for 4 million common shares.

The specialty pharmaceutical company plans to grant underwriters an option to buy up to an additional 15% of the shares offered.

Net proceeds will be used to fund manufacturing and commercialization of company's drug Zilretta, product pipeline development, and for working capital and general corporate purposes.

Wells Fargo Securities, BMO Capital Markets and RBC Capital Markets are acting as joint book-running managers.