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Spring Bank Pharmaceuticals plans common stock offering

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Spring Bank Pharmaceuticals plans common stock offering

Spring Bank Pharmaceuticals Inc. is planning to undertake an underwritten public offering of its common stock.

The Hopkinton, Mass.-based biopharmaceutical company intends to grant the underwriters an option to buy up to an additional 15% of shares offered.

Spring Bank intends to use the net proceeds for funding clinical trials, nonclinical studies, research and development and for general corporate purposes.

Jefferies LLC and Piper Jaffray & Co. are acting as joint book-running managers for the proposed offering.