Strongbridge Biopharma plc Announces Proposed Public Offering of Ordinary Shares
DUBLIN, Ireland and TREVOSE, Pa., Aug. 14, 2018 (GLOBE NEWSWIRE) — Strongbridge Biopharma plc (NASDAQ:SBBP) (the “Company”) today 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.
A shelf registration statement relating to the ordinary shares was previously filed with the Securities and Exchange Commission (the “SEC”) and declared effective on March 27, 2018. This offering is being made only by means of a written prospectus supplement and the accompanying prospectus forming a part of the effective registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website. Copies of the preliminary prospectus supplement (when available) and accompanying prospectus may be obtained from either Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department or by telephone at (631) 274-2806 or Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, or by telephone at (415) 364-2720, or by email at syndprospectus@stifel.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. Any offer, if at all, will be made only by means of the prospectus supplement and accompanying prospectus forming a part of the effective registration statement.
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.
“Safe Harbor” Statement Under the Private Securities Litigation Reform Act of 1995
This press release contains forward-looking statements within the meaning of the federal securities laws. These statements include statements related to the expected completion of the offering described herein, the timing and size of the offering, and the intended use of proceeds. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in such statements, including risks and uncertainties associated with prevailing market conditions, the impact of general economic, industry or political conditions in the United States or internationally, and Strongbridge’s ability to satisfy customary closing conditions associated with the offering. Additional risks and uncertainties relating to the proposed offering, Strongbridge and its business can be found under the heading “Risk Factors” in the preliminary prospectus supplement and accompanying prospectus relating to the offering to be filed with the SEC, as well as Strongbridge’s Annual Report on Form 10-K for the year ended December 31, 2017 and subsequent filings with the SEC. Strongbridge assumes no duty or obligation to update or revise any forward-looking statements for any reason.
Contacts:
Corporate and Media Relations
Elixir Health Public Relations
Lindsay Rocco
+1 862-596-1304
lrocco@elixirhealthpr.com
Investor Relations
US:
The Trout Group
Marcy Nanus
+1 646-378-2927
mnanus@troutgroup.com
Europe:
First House
Geir Arne Drangeid
+47 913 10 458
strongbridgebio@firsthouse.no
USA:
900 Northbrook Drive
Suite 200
Trevose, PA 19053
Tel. +1 610-254-9200
Fax. +1 215-355-7389
Source: Strongbridge Biopharma
