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Receptos Inc announces closing of underwritten public offering of common stock and full exercise of underwriters' option to purchase additional shares

Tuesday, 14 Jan 2014 09:46am EST 

Receptos Inc:Says it is closing of the previously announced underwritten public offering of 3,320,000 shares of its common stock at a price to the public of $30.75 per share.Says it is closing the full exercise of the option granted to the underwriters to purchase an aggregate of 498,000 additional shares of common stock.Says the gross proceeds to Receptos from this offering were about $117.4 mln, before deducting underwriting discounts and commissions and other estimated offering expenses.Says all of the shares in the offering were sold by Receptos.Says it to use the net proceeds received from this offering to fund continued development of its product candidate RPC1063 in ongoing clinical trials for relapsing multiple sclerosis and ulcerative colitis.Says it intend to use the proceeds for development of its in-licensed product candidate RPC4046 in a clinical trial for eosinophilic esophagitis, other ongoing preclinical and research programs and for general corporate purposes including working capital.Says Credit Suisse Securities (USA) LLC, Leerink Partners LLC and BMO Capital Markets acted as joint book-running managers for the offering.Says Wedbush PacGrow Life Sciences acted as a co-manager. 

Company Quote

23 Oct 2014