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Eiger BioPharmaceuticals starts common stock offering

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.