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Dicerna Pharmaceuticals prices $100M common stock offering

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Dicerna Pharmaceuticals prices $100M common stock offering

Dicerna Pharmaceuticals Inc. priced an offering of 7,680,492 common shares at $13.02 each.

The Cambridge, Mass-based drugmaker gave underwriters a 30-day option to buy up to an additional 1,152,073 common shares at the same price.

Dicerna expects gross proceeds of about $100 million from the offering. Net proceeds will be used for preclinical and clinical studies, technology platform development and working capital and general corporate purposes.

Citigroup, Leerink Partners and Stifel are acting as the joint book-running managers for the offering, while H.C. Wainwright & Co. and SunTrust Robinson Humphrey are acting as the lead co-managers.

The offering is expected to close on or about Sept. 11.

Dicerna Pharmaceuticals develops therapies for liver diseases.