Type of information: Private placement
Company: Albireo Pharma (USA - MA)
Amount: $48.2 million
Funding type: private placement
Planned used: Albireo is a clinical-stage biopharmaceutical company focused through its operating subsidiary on the development of novel bile acid modulators to treat orphan pediatric liver diseases and other liver and gastrointestinal diseases and disorders. Albireo's clinical pipeline includes two Phase 3 product candidates and one Phase 2 product candidate. Albireo was spun out from AstraZeneca in 2008.
Albireo Pharma is located in Boston, Massachusetts , and its key operating subsidiary, Albireo AB , is located in Gothenburg, Sweden .
- • On May 30, 2017, Albireo Pharma announced the completion of its previously announced underwritten public offering of 2,200,000 shares of its common stock at a price to the public of $20.50 per share. In addition, the underwriters have exercised an option to purchase an additional 330,000 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 $51.9 million and net proceeds of approximately $48.2 million , after deducting underwriting discounts and commissions and estimated offering expenses.
- • On May 24, 2017, Albireo Pharma announced the pricing of its previously announced underwritten public offering of 2,200,000 shares of its common stock at a price to the public of $20.50 per share. Albireo's gross proceeds from this offering are expected to be approximately $45.1 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 330,000 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 May 30, 2017 , subject to customary closing conditions.
• On May 23, 2017, Albireo Pharma announced today that it has commenced an underwritten public offering of its common stock. In connection with the offering, Albireo intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the number of shares of common stock sold in the offering. All of the shares in the offering will be sold by Albireo. 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 William Blair are acting as joint book-running managers and representatives of the underwriters for the offering. Needham & Company and Wedbush PacGrow are acting as co-managers.
Therapeutic area: Gastrointestinal diseases - Digestive diseases - Liver diseases - Hepatic diseases