Key Developments: Cempra Inc (CEMP.W)
7.11USD
18 Jun 2013
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Latest Key Developments (Source: Significant Developments)
Cempra Inc Announces Partial Exercise of Over-Allotment Option and Completion of the Public Offering of Common Stock
Cempra Inc announced that underwritten public offering of 7,250,000 shares of common stock, plus an additional 1,023,938 shares issued pursuant to the partial exercise by the underwriters of their over-allotment option, at a public offering price of $7.00 per share. The partial exercise of the over-allotment option increases the net proceeds to the Company, after underwriting discounts and commissions and estimated offering expenses, from approximately $47.5 million to approximately $54.2 million. Barclays, Stifel and Cowen and Company are acting as joint book-running managers for the offering. Needham & Company and SunTrust Robinson Humphrey are acting as co-managers. Full Article
Cempra Inc Prices Public Offering of Common Stock
Cempra Inc announced that it has priced an underwritten public offering of 7,250,000 shares of its common stock at a price of $7.00 per share for aggregate gross proceeds of $50.8 million. Net proceeds after underwriting discounts and commissions and expenses of the offering are expected to be approximately $47.7 million. The Company also has granted the underwriters a 30-day option to purchase up to an additional 1,087,500 shares to cover over-allotments, if any, which would result in additional net proceeds of approximately $7.2 million, if exercised in full. The offering is expected to close on or about June 19, 2013, subject to satisfaction of customary closing conditions. Barclays, Stifel and Cowen and Company are acting as joint book-running managers for the offering. Needham & Company and SunTrust Robinson Humphrey are acting as co-managers. Full Article
Cempra Inc Announces Proposed Public Offering of Common Stock
Cempra Inc announced that its intention to offer and sell shares of its common stock in an underwritten public offering pursuant to its existing shelf registration statement. The Company also intends to grant to the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock sold in the public offering to cover over-allotments, if any. The Company intends to use the net proceeds from the offering to fund its planned IV-to-oral Phase 3 clinical trial of solithromycin in community acquired bacterial pneumonia (CABP), working capital and general corporate and administrative expenses. 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. Barclays, Stifel and Cowen and Company are acting as joint book-running managers for the offering. Full Article
Cempra Inc Secures $58 Million Contract To Develop Antibiotic For Pediatric Use And Biodefense By Biomedical Advanced Research And Development Authority
Cempra Inc announced that the Biomedical Advanced Research and Development Authority ( BARDA ) has awarded Cempra with a five year contract valued up to $58 million for the development of solithromycin to treat infections in pediatric populations and for the treatment of infections by bioterror threat pathogens. Solithromycin, Cempra's lead product candidate, is a fourth generation macrolide antibiotic in the fluoroketolide family that is currently in Phase 3 development for community-acquired bacterial pneumonia (CABP) in adults. Full Article
Cempra Inc Signs Japan Licensing Deal For New Antibiotic-DJ
Dow Jones reported that Cempra Inc signed an agreement giving a unit of Fujifilm Holdings Corp. the right to brings its new antibiotic to market in Japan. The Company will receive an upfront payment of $10 million and milestone payments of up to $60 million from Toyoma Chemical Co. Cempra also expects to receive royalties based on the sales of the antibiotic, solithromycin, following its launch in Japan. Full Article
Cempra Inc Announces Pricing Of $25 Million Private Placement
Cempra Inc announced that it has entered into a securities purchase agreement with a select group of new and existing institutional and accredited investors in connection with a private placement financing. Upon closing of the financing, Cempra will receive gross proceeds of approximately $25 million resulting from the sale of 3,864,461 shares of common stock at the purchase price of $6.50 per share. Jefferies & Company, Inc., Cowen and Company and Stifel Nicolaus Weisel served as placement agents for the financing. Proceeds from the private placement are expected to be used for general corporate and working capital purposes, including the funding of clinical trials. Full Article
Cempra Inc Announces Positive Top-Line Results From Solithromycin Phase 2 Clinical Trial In Patients With Uncomplicated Urogenital Gonorrhea
Cempra Inc announced positive top-line data showing that solithromycin cleared infections in patients with uncomplicated urogenital gonorrhea. Patients with proven gonococcal infections were treated with a single oral dose of solithromycin. The Phase 2 trial is a single-center, open-label study that has enrolled 25 patients with suspected gonococcal infection. Patients were treated with a single oral dose of solithromycin. The primary endpoint of bacterial eradication as measured by conversion from positive baseline urethral or cervical cultures to negative at seven days was achieved in 100% of evaluable (22 patients with positive baseline cultures) patients. Pharyngeal and rectal infections were also cleared in this study. Safety and tolerability were also measured in these patients. Full Article
Cempra Holdings LLC Announces Exercise In Full Of Underwriters' Option To Purchase Additional Shares
Cempra Holdings LLC announced that the underwriters of its recent initial public offering have exercised in full their option to purchase an additional 1,260,000 shares of common stock. The closing of the over‑allotment option occurred on February 27, 2012. With the sale of the additional shares at $6.00 per share, the total net proceeds to the Company from the offering, after deducting underwriter discounts and commissions and estimated offering expenses, were approximately $54.7 million. The Company intends to use the net proceeds from the offering to develop two of its product candidates, CEM-101 and Taksta. Stifel Nicolaus Weisel, Leerink Swann LLC and Cowen and Company, LLC served as joint book-running managers for the offering. Needham & Company, LLC acted as co-manager. Full Article
Cempra Holdings LLC Announces Closing Of Initial Public Offering Of Common Stock
Cempra Holdings LLC announced that it has closed the initial public offering of 8,400,000 shares of common stock at $6.00 per share. The shares began trading on February 3, 2012 on The Nasdaq Global Market under the ticker symbol CEMP. Total net proceeds to the Company from the offering, after deducting underwriter discounts and commissions and estimated offering expenses, were approximately $47.7 million. The Company intends to use the net proceeds from the offering to develop two of its product candidates, CEM-101 and Taksta. Stifel Nicolaus Weisel, Leerink Swann LLC and Cowen and Company, LLC served as joint book-running managers for the offering. Needham & Company, LLC acted as co-manager. Full Article
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