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Repros Therapeutics Inc Announces the Closing Of Public Offering of Common Stock


Tuesday, 25 Jun 2013 11:47am EDT 

Repros Therapeutics Inc announced that it has closed an underwritten public offering of 4,312,500 shares of its common stock at a public offering price of $19.00 per share, for net proceeds of approximately $76.5 million after deducting underwriting discounts and other estimated offering expenses. The Company intends to use the proceeds from this offering to progress the clinical development programs for Androxal and Proellex and for general administrative purposes. Our unaudited cash balance as of the date of this release, including the proceeds from this offering and after deducting estimated offering expenses, is approximately $87.5 million. The Company believes that our current liquidity will be sufficient to complete an NDA submission for both of its current clinical programs, with an anticipated NDA filing date for Androxal in mid-2014 and for Proellex in 2016. Additionally, these funds will allow us to maximize the commercial and strategic value for both programs. In connection with this offering, BofA Merrill Lynch acted as the sole book-running manager and Lazard Capital Markets LLC, Ladenburg Thalmann & Co. Inc. and Ascendiant Capital Markets, LLC acted as co-managers. 

Company Quote

9.9
-0.29 -2.85%
30 Sep 2014