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Kadmon prices common stock offerings

Kadmon Holdings Inc. priced an underwritten offering and a registered direct offering of 30,303,030 common shares at $3.30 apiece.

The biopharmaceutical company expects gross proceeds of about $100 million from the offerings.

Underwriters have an option to buy up to an additional 4 million common shares on the same conditions.

The underwritten offering and a portion of the direct offering are expected to close June 14. The remainder of the direct offering is expected to close June 26. The offerings are subject to closing conditions.

The company said it plans to use net proceeds to fund preclinical and clinical development of its lead product candidates, development and preclinical studies of other products and for other general corporate purposes.

Jefferies LLC is acting as the sole book-running manager and H.C. Wainwright & Co. LLC is acting as the lead manager for the underwritten offering.

New York-based Kadmon Holdings develops drugs to treat inflammatory and fibrotic diseases.