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Intec Pharma raises $2M from underwriters of its public offering

Intec Pharma Ltd. said the underwriters of its public offering partially exercised their overallotment option to buy 400,000 additional shares at $5.25 apiece.

The Israel-based clinical stage biopharmaceutical company received net proceeds of about $2 million from the exercise.

In April, Intec closed its public offering of 6.75 million ordinary shares at $5.25 apiece to raise about $35.4 million in gross proceeds.

Oppenheimer & Co. Inc. acted as the sole book-running manager, while Ladenburg Thalmann and Roth Capital Partners acted as co-managers in the offering.