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Eiger BioPharmaceuticals prices common stock offering

Eiger BioPharmaceuticals Inc. priced its public offering of 3.2 million common shares at $12.50 apiece to raise about $37.2 million in net proceeds.

The Palo Alto, Calif.-based biopharmaceutical company granted the underwriters an option to buy up to an additional 480,000 shares.

The company 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 — a genetic condition characterized by the dramatic, rapid appearance of aging beginning in childhood — for working capital and other general corporate purposes.

The offering is expected to close May 29, subject to customary closing conditions.

Piper Jaffray & Co. is acting as the lead book runner, while BTIG LLC is acting as a book runner. Ladenburg Thalmann is acting as co-manager for the offering.