DUBLIN, Ireland and TREVOSE, Pa., Aug. 14, 2018 (GLOBE NEWSWIRE) -- Strongbridge Biopharma plc (NASDAQ:SBBP) announced that it intends to offer and sell 9,000,000 of its ordinary shares in an underwritten public offering. The Company also intends to grant the underwriters a 30-day option to purchase up to an additional 1,350,000 ordinary shares. The offering is subject to market and other conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Cowen and Stifel are acting as the joint book-running managers for the offering and JMP Securities is acting as the lead manager. MTS Securities, LLC is serving as a financial advisor to the Company in the offering.
The Company intends to use the net proceeds from the offering to support the commercialization and life cycle management activities of Keveyis and Macrilen, conduct development and regulatory activities, as well as facilitate commercial readiness, for Recorlev, and for other general corporate purposes, which may include working capital, capital expenditures, acquisition of additional technologies or other forms of intellectual property, acquisition of assets or businesses that are complementary to our existing business, and general and administrative expenses.
About Strongbridge Biopharma plc
Strongbridge Biopharma is a global commercial-stage biopharmaceutical company focused on the development and commercialization of therapies for rare diseases with significant unmet needs. Strongbridge's rare endocrine franchise includes MACRILEN™ (macimorelin), the first and only FDA-approved oral drug indicated for the diagnosis of adult growth hormone deficiency, RECORLEV™ (levoketoconazole), a cortisol synthesis inhibitor currently being studied in Phase 3 clinical studies for the treatment of endogenous Cushing's syndrome, and veldoreotide extended release, a pre-clinical next-generation somatostatin analog being investigated for the treatment of acromegaly and potential additional applications in other conditions amenable to somatostatin receptor activation. MACRILEN has orphan drug exclusivity in the United States, and both RECORLEV and veldoreotide have received orphan drug designation from the FDA and the European Medicines Agency. The Company’s rare neuromuscular franchise includes KEVEYIS® (dichlorphenamide), the first and only FDA-approved treatment for hyperkalemic, hypokalemic, and related variants of primary periodic paralysis. KEVEYIS has orphan drug exclusivity in the United States.
