Neurocrine Biosciences Prices 9.5M-Share Offering At 6 Pct Discount
Thursday, January 19, 2022 9:37 AM

Neurocrine Biosciences Inc. (NASDAQ: NBIX) has priced a public offering of 9.5 million shares at $8.10 per share, a 6.3 percent discount to Wednesday's close.

On Thursday, the stock fell 3.9 percent in early trade.

The Santa Clara, California-based company, which is focused on treatment of neurological and endocrine diseases, expects gross proceeds from this offering to be around $77 million.

It expects to use the net proceeds to fund its research and development efforts, and for general corporate purposes, including working capital.

The company has 11 programs in various stages of research and development, including six programs in clinical development.

Neurocrine has granted the underwriters a 30-day option to purchase up to an aggregate of 1.425 million additional shares of common stock to cover over-allotments, if any.

Jefferies & Company, Inc. and Deutsche Bank Securities Inc. are acting as joint book-running managers for this offering, and Piper Jaffray & Co. and Leerink Swann LLC are acting as co-managers for this offering.