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Dicerna to raise $40M in common stock offering

Dicerna Pharmaceuticals, Inc. is looking to raise gross proceeds of $40 million in a public offering with the sale of 5,714,286 common shares at a price of $7 apiece.

The company granted the underwriters an option to buy up to an additional 857,143 shares.

Dicerna expects to close the offering by Dec. 18.

Net proceeds will be used for preclinical studies and clinical trials, with the remainder being used for continued technology platform development, working capital and general corporate purposes.

Stifel and Evercore ISI are acting as the joint book-running managers for the offering. H.C. Wainwright & Co. and SunTrust Robinson Humphrey are acting as the co-lead managers for the offering.