Secondary Stock Offerings
By The Online Investor Staff, updated Sat., Sep. 19, 7:51 AM
| This Slide: #24 of 25 |
Slide #24. Albireo Pharma, Inc. — Secondary Offering
Company:
Albireo Pharma, Inc. (NASDAQ:ALBO)
Date announced:
9/8/2020
Shares Offered:
4,000,000
Date of Pricing:
9/9/2020
Price Per Share:
$40.00
Secondary Offering Details:
Albireo Pharma, Inc. (Nasdaq: ALBO), a clinical-stage orphan pediatric liver disease company developing novel bile acid modulators, announced today that it has commenced a proposed underwritten public offering of 3,000,000 shares of its common stock. In connection with the offering, Albireo intends to grant the underwriters a 30-day option to purchase up to an additional 450,000 shares of common stock. All of the shares in the offering will be sold by Albireo. 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. -updated 9/9- Albireo Pharma, Inc. (Nasdaq: ALBO), a clinical-stage orphan pediatric liver disease company developing novel bile acid modulators, announced today the pricing of its previously announced underwritten public offering of 4,000,000 shares of its common stock at a price to the public of $40.00 per share. Albireo's gross proceeds from this offering are expected to be $160 million, before deducting underwriting discounts and commissions and offering expenses. In addition, Albireo has granted the underwriters a 30-day option to purchase up to an additional 600,000 shares of common stock at the public offering price, less underwriting discounts and commissions. All of the shares in the offering are being sold by Albireo. The offering is expected to close on or about September 14, 2020, subject to satisfaction of customary closing conditions.
Albireo Pharma is a biopharmaceutical company focused on the development and commercialization of bile acid modulators to treat orphan pediatric liver diseases and other liver or gastrointestinal diseases and disorders. Co.'s primary product candidate, odevixibat, is used for the indication of progressive familial intrahepatic cholestasis, a rare genetic disorder affecting young children. Co. is also developing odevixibat in biliary atresia and in Alagille syndrome. Co.'s other product candidate, elobixibat, is for the treatment of chronic constipation and for which Co. has a clinical trial as a treatment for nonalcoholic fatty liver disease and nonalcoholic steatohepatitis.
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