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Aimmune Therapeutics prices $176M common stock offering

Aimmune Therapeutics Inc. priced an underwritten public offering of 5.5 million common shares at $32 apiece.

The company, which develops treatments for peanut and other food allergies, plans to raise $176 million.

Underwriters have a 30-day option to buy up to an additional 825,000 shares at the public offering price.

Aimmune plans to use the net proceeds to fund its ongoing clinical development of AR101, a treatment for patients with peanut allergy; research and development of additional product candidates; and for general corporate purposes.

The offering, which is subject to certain closing conditions, is expected to close Feb. 26.

BofA Merrill Lynch, Cantor Fitzgerald & Co. and Piper Jaffray & Co. are acting as joint book-running managers for the offering. Credit Suisse and RBC Capital Markets are also acting as book-running managers. Roth Capital Partners and Wedbush PacGrow are acting as co-managers for the offering.