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NeuroDerm closes follow-on offering of ordinary shares

NeuroDerm Ltd. closed its follow-on offering of 4 million ordinary shares at a price of $18.75 per share.

The company also granted the underwriters an option to buy up to an additional 600,000 shares at the public offering price.

The total gross proceeds before underwriting discounts and commissions and other offering expenses were $75 million.

NeuroDerm will use the net proceeds to fund ongoing and planned clinical trials for its product candidates, development of related devices, and for research and development of other product candidates as well as for general corporate purposes.

Jefferies LLC and Cowen and Co. LLC acted as joint book-running managers, while Raymond James & Associates Inc. and Roth Capital Partners LLC acted as co-managers for the offering.