Albireo Announces Closing of $46 Million Public Offering Including Exercise in Full of Underwriters’ Option to Purchase Add...
February 03 2020 - 4:01PM
Albireo Pharma, Inc. (Nasdaq: ALBO), a clinical-stage orphan
pediatric liver disease company developing novel bile acid
modulators, announced today the completion 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. In addition, the underwriters have exercised in full an
option to purchase an additional 285,750 shares of common stock at
the public offering price, less the underwriting discounts and
commissions. All of the shares in the offering were sold by
Albireo, with gross proceeds to Albireo of approximately $46.0
million and net proceeds of approximately $42.9 million,
after deducting underwriting discounts and commissions and
estimated offering expenses.
Jefferies acted as the sole book-running manager and
representative of the underwriters for the offering.
The offering was 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 final prospectus supplement and
accompanying prospectus have been filed with the SEC and are
available at the SEC’s website located at www.sec.gov, copies of
which may be obtained 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 (PFIC). Albireo’s clinical pipeline also includes two
Phase 2 product candidates. Elobixibat is in Phase 2 development in
NAFLD and NASH. Approved in Japan for the treatment of chronic
constipation, elobixibat 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, Mass., 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
net 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 final prospectus supplement filed with the
SEC on January 30, 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: Heather Anderson6
Degrees919-827-5539handerson@6degreespr.com
Source: Albireo Pharma, Inc.
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