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Bellus Health prices C$35M overnight marketed equity offering

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Bellus Health prices C$35M overnight marketed equity offering

Bellus Health Inc. priced its overnight marketed equity offering at 95 Canadian cents per share, with initial demand attracting C$35 million for its common shares.

The Laval, Quebec-based biopharmaceutical company will conduct the offering in Canada and potentially in the U.S.

Net proceeds from the offering will be used to fund research and development activities, including the clinical development of the company's lead drug candidate BLU-5937, which treats chronic cough patients who are unresponsive to current therapies. A portion of the proceeds will also go to general and administrative expenses, working capital needs and other general corporate purposes.

The offering is set to close on or about Dec. 18, subject to customary closing conditions.

Bloom Burton Securities Inc. is acting as lead agent on behalf of a syndicate of agents, including Mackie Research Capital Corp.