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Recro Pharma raises close to $37M in stock offering

Recro Pharma Inc. closed a public offering of 6,670,000 shares at $6 apiece to raise $36.9 million in net proceeds.

The funds will help Recro advance development of injectable meloxicam to treat moderate to severe postoperative pain.

Piper Jaffray & Co. was the sole book-running manager of the issue, with Janney Montgomery Scott and ROTH Capital Partners acting as co-managers.