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Strongbridge raises additional proceeds in ordinary shares offering

Strongbridge Biopharma plc said the underwriters for its previously announced offering partially exercised their option to buy an additional 255,683 ordinary shares at $6.75 apiece.

The Dublin, Ireland-based biopharmaceutical company expects to raise gross proceeds of about $35.5 million from the offering now.

The partial exercise will likely close Feb. 27.

Cantor Fitzgerald & Co. is acting as the sole book runner in the offering with JMP Securities LLC as lead manager. Meanwhile, Oppenheimer & Co. Inc. is acting as lead co-manager with H.C. Wainwright & Co. as co-manager.

Strongbridge focuses on developing and marketing therapies for rare diseases.