Kala Pharmaceuticals Prices Public Offering of 7.5m Shares of Common Stock.
M2 PHARMA-October 4, 2018-Kala Pharmaceuticals Prices Public Offering of 7.5m Shares of Common Stock
(C)2018 M2 COMMUNICATIONS
- US-based biopharmaceutical company Kala Pharmaceuticals, Inc. (NASDAQ: KALA) has priced an underwritten public offering of 7.5m shares of its common stock at a public offering price of USD 8.25 per share, before offering discounts, the company said.
The offering will result in aggregate gross proceeds of approximately USD 61.9m to Kala, before deducting underwriting discounts and offering expenses.
Kala also granted the underwriters of the offering an option for a period of 30 days to purchase up to an additional 1.125m shares of common stock offered in the public offering at the public offering price, less the underwriting discount.
The offering is expected to close on or about 5 October 2018, subject to customary closing conditions.
J.P. Morgan, BofA Merrill Lynch and Jefferies are acting as joint bookrunning managers for the offering. Cantor Fitzgerald and Co. is serving as lead manager for the offering, and Wedbush PacGrow and Oppenheimer and Co. Inc. are acting as co-managers for the offering.
Kala is a biopharmaceutical company focused on the development and commercialization of therapeutics using its proprietary MPP technology, with an initial focus on the treatment of eye diseases.
The company has applied the MPP technology to a corticosteroid, LE, designed for ocular applications, resulting in recently approved Inveltys for the treatment of inflammation and pain following ocular surgery and its lead product candidate, KPI-121 0.25%, for the temporary relief of the signs and symptoms of dry eye disease.
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|Date:||Oct 4, 2018|
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