Neurocrine Biosciences closes stock offering
Biotechnology company Neurocrine Biosciences Inc. said Tuesday it completed a stock offering for proceeds of about $23 million.
On Friday, the company priced its offering of $9.1 million shares at $2.20 apiece, which marked a 15.4 percent discount at the time. The company will use proceeds to fund research and development and general corporate purposes.
Underwriters exercised their option to buy just under $1.4 million additional shares to cover overallotments. Jefferies & Co. was the sole book-running manager.
The company had $44.1 million shares of stock outstanding as of Jan. 29.