NPS proposes offering for about $82M to further teduglutide and other programmes
This article was originally published in Scrip
NPS Pharmaceuticals, which focuses on therapies for rare GI and endocrine disorders, said on 11 April it plans to sell at least nine million shares (or 10,350,000 if the underwriters exercise the overallotment option) in a follow-on underwritten by CitiGroup Capital Markets and Leerink Swann. The drug developer did not say at what price it planned to sell the shares, but in the preliminary prospectus it estimates that net proceeds will be about $76.7 million after deducting expenses, assuming a public offering price of $9.09, which was the share price on 8 April.
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