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Sierra Oncology plans common stock offering

Vancouver, Canada-based Sierra Oncology Inc. is planning an underwritten public offering of its common stock.

The cancer specialist plans to grant underwriters a 30-day option to buy up to an additional 15% of shares offered.

Sierra plans to use the proceeds to develop its product candidates SRA737 and SRA141 and to fund general corporate purposes.

Jefferies is acting as the sole book-running manager for the offering.