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.