Corium Announces Closing of Follow-On Offering of Common Stock and Full Exercise of Underwriters’ Option to Purchase Additi...
May 31 2017 - 4:02PM
Corium International, Inc. (Nasdaq:CORI), a commercial-stage
biopharmaceutical company focused on the development, manufacture
and commercialization of specialty transdermal products, today
announced that it has closed its previously announced underwritten
public offering of 6,440,000 shares of common stock, including
840,000 shares sold upon full exercise of the underwriters’ option
to purchase additional shares of common stock, at a public offering
price of $6.25 per share. Corium received gross proceeds of $40.3
million.
Jefferies LLC acted as the sole book-running manager for the
offering. Guggenheim Securities, LLC acted as lead manager. Needham
& Company, LLC, FBR Capital Markets & Co., H.C. Wainwright
& Co., LLC and WBB Securities, LLC acted as co-managers.
The public offering was made pursuant to the shelf registration
statement on Form S-3 that was filed by Corium with the Securities
and Exchange Commission ("SEC") on December 30, 2015 and declared
effective by the SEC on January 20, 2016. The offering was made
only by means of a written prospectus and prospectus supplement
that form a part of the registration statement. A prospectus
supplement and accompanying base prospectus relating to and
describing the terms of the offering has been filed with the SEC
and is available on the SEC's website at www.sec.gov. Copies of the
prospectus supplement and the accompanying base prospectus may also
be obtained by contacting Jefferies LLC, Attention: Equity
Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New
York, NY 10022, or by telephone at 877-547-6340, or by email at
prospectus_department@jefferies.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy Corium's common stock, nor shall
there be any sale of Corium's common stock in any state or
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. Any offers,
solicitations of offers to buy, or sales of the common stock will
only be made pursuant to the registration statement filed with the
SEC, including a prospectus and a related prospectus
supplement.
About Corium
Corium International, Inc. is a commercial-stage
biopharmaceutical company focused on the development, manufacture
and commercialization of specialty pharmaceutical products that
leverage the company's broad experience with advanced transdermal
and transmucosal delivery systems. Corium has multiple proprietary
programs in preclinical and clinical development, focusing
primarily on the treatment of neurological disorders, with lead
programs in Alzheimer's disease. Corium has developed and is the
sole commercial manufacturer of seven prescription drug and
consumer products with partners Mayne Pharma and Procter &
Gamble. The company has two proprietary transdermal platforms:
Corplex™ for small molecules and MicroCor®, a biodegradable
microstructure technology for small molecules and biologics,
including vaccines, peptides and proteins. In addition to its
proprietary Alzheimer’s program, the company's late-stage pipeline
includes a contraceptive patch co-developed with Agile Therapeutics
and additional transdermal products that are being developed with
other partners.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of the U.S. Private Securities Litigation Reform Act of
1995 and other federal securities laws. Any statements contained
herein that do not describe historical facts, including, but not
limited to, statements regarding the expected gross proceeds of the
offering, the anticipated use of proceeds of the offering and the
timing of completion of the offering, are forward-looking
statements that involve risks and uncertainties that could cause
actual results to differ materially from those discussed in such
forward-looking statements. Such risks and uncertainties include,
among others, the risks identified in Corium's filings with the
SEC, including its Quarterly Report on Form 10-Q for the quarterly
period ended March 31, 2017, filed with the SEC on May 12, 2017,
the prospectus supplement related to the public offering, filed
with the SEC on May 25, 2017, and subsequent filings with the SEC.
Any of these risks and uncertainties could materially and adversely
affect Corium's results of operations, which would, in turn, have a
significant and adverse impact on Corium's stock price. Corium
cautions you not to place undue reliance on any forward-looking
statements, which speak only as of the date they are made. Corium
undertakes no obligation to update publicly any forward-looking
statements to reflect new information, events or circumstances
after the date they were made or to reflect the occurrence of
unanticipated events.
Source: Corium
Investor and Media Contact:
SMP Communications
Susan M. Pietropaolo
susan@smpcommunications.com
(201) 923-2049
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