Albireo Prices $40 Million Public Offering of Common Stock
January 29 2020 - 9:57PM
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 1,905,000 shares of its common
stock at a price to the public of $21.00 per share. Albireo’s gross
proceeds from this offering are expected to be approximately $40
million, before deducting underwriting discounts and commissions
and estimated offering expenses. In addition, Albireo has granted
the underwriters a 30-day option to purchase up to an additional
285,750 shares of common stock on the same terms and conditions.
All of the shares in the offering are being sold by Albireo. The
offering is expected to close on or about February 3, 2020, subject
to customary closing conditions.
Jefferies is acting as the sole book-running manager and
representative of the underwriters for the offering.
The offering will be made only by means of a written prospectus
and related prospectus supplement forming part of a shelf
registration statement on Form S-3 that was filed with the
Securities and Exchange Commission (SEC) on March 6, 2019 and
declared effective by the SEC on April 30, 2019. The preliminary
prospectus supplement and accompanying prospectus relating to and
describing the terms of the offering were filed with the SEC on
January 29, 2020. The final prospectus supplement and accompanying
prospectus will be filed with the SEC and will be available at the
SEC’s website located at www.sec.gov, copies of which may be
obtained, when available, from Jefferies LLC, Attention: Equity
Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New
York, NY 10022, by e-mail at prospectus_department@jefferies.com or
by telephone at (877) 821-7388.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or other 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 other jurisdiction.
About AlbireoAlbireo Pharma is a
clinical-stage biopharmaceutical company focused on the development
of novel bile acid modulators to treat orphan pediatric liver
diseases, and other liver and gastrointestinal diseases and
disorders. Albireo’s lead product candidate, odevixibat, is being
developed to treat rare pediatric cholestatic liver diseases and is
in Phase 3 development in its initial target indication,
progressive familial intrahepatic cholestasis. Albireo’s clinical
pipeline also includes two Phase 2 product candidates. Albireo’s
elobixibat, approved in Japan for the treatment of
chronic constipation, is the first ileal bile acid transporter
(IBAT) inhibitor approved anywhere in the world. Albireo was spun
out from AstraZeneca in 2008.Albireo Pharma is located in Boston,
Massachusetts, and its key operating subsidiary is located in
Gothenburg, Sweden.
Forward-Looking StatementsThis press release
includes “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements include statements, other than statements of historical
fact, regarding, among other things, the completion and timing of
the public offering and the anticipated total gross proceeds from
the offering. Albireo often uses words such as “anticipates,”
“believes,” “plans,” “expects,” “projects,” “future,” “intends,”
“may,” “will,” “should,” “could,” “estimates,” “predicts,”
“potential,” “planned,” “continue,” “guidance,” and similar
expressions to identify forward-looking statements. Actual results,
performance or experience may differ materially from those
expressed or implied by any forward-looking statement as a result
of various risks, uncertainties and other factors, including, but
not limited to: the completion of the public offering and other
risks and uncertainties that are described under the heading “Risk
Factors” in Albireo’s preliminary prospectus supplement filed with
the SEC on January 29, 2020, Albireo’s most recent Annual Report on
Form 10-K or in subsequent filings that it makes with the
Securities and Exchange Commission. As a result of risks and
uncertainties that Albireo faces, the results or events indicated
by any forward-looking statement may not occur. Albireo cautions
you not to place undue reliance on any forward-looking statement.
In addition, any forward-looking statement in this press release
represents Albireo’s views only as of the date of this press
release and should not be relied upon as representing its views as
of any subsequent date. Albireo disclaims any obligation to update
any forward-looking statement, except as required by applicable
law.
Investor Contact: Hans VitzthumLifeSci
Advisors, LLC617-430-7578
Media Contact:Bill BerryBerry & Company
Public Relations212-253-8881bberry@berrypr.com
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