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Strongbridge Biopharma prices share offering

Strongbridge Biopharma plc priced an underwritten public offering of 4 million shares at $6.25 apiece to raise $25 million in gross proceeds.

The offer is expected to close Oct. 6 with Cantor Fitzgerald & Co. acting as the sole book-running manager and Oppenheimer & Co. Inc. and H.C. Wainwright & Co. LLC as co-managers.

The underwriters have an option to buy up to an additional 600,000 of the shares offered.

Strongbridge plans to use the net proceeds to advance its drug pipeline, including Keveyis to treat primary periodic paralysis and Recorlev to treat Cushing's syndrome.