Eiger BioPharmaceuticals Inc. started an underwritten public offering of its common stock.
The company plans to grant the underwriters an option to buy up to an additional 15% of the shares offered.
Eiger plans to use the net proceeds to fund its planned phase 3 clinical trial of lonafarnib in hepatitis delta virus infection and for regulatory development of the drug related to the treatment of Hutchison-Gilford progeria syndrome, which is a genetic condition characterized by the dramatic, rapid appearance of aging beginning in childhood.
The company may also use the proceeds for working capital and other general corporate purposes.
Piper Jaffray & Co. is acting as the lead book runner. BTIG LLC is also acting as a book runner. Ladenburg Thalmann is acting as co-manager for the offering.
