CAMBRIDGE, Mass., April 10, 2014 (GLOBE NEWSWIRE) -- Cerulean Pharma Inc. (Nasdaq:CERU) today announced the pricing of its initial public offering of 8,500,000 shares of its common stock at a public offering price of $7.00 per share, before underwriting discounts. In addition, Cerulean has granted the underwriters a 30-day option to purchase up to an additional 1,275,000 shares of common stock at the public offering price, less underwriting discounts. Cerulean's common stock has been approved for listing on the NASDAQ Global Market and is expected to begin trading under the ticker symbol "CERU" today.
The offering is expected to close on April 15, 2014, subject to customary closing conditions.
Leerink Partners is acting as sole book-running manager for the offering. Canaccord Genuity, JMP Securities and Wedbush PacGrow Life Sciences are acting as co-managers for the offering.
A registration statement relating to the securities being sold in this offering has been filed with and declared effective by the Securities and Exchange Commission. The offering is being made only by means of a prospectus, copies of which may be obtained from Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, or by email at email@example.com, or by phone at (800) 808‐7525, ext. 4814.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
Cerulean Pharma Inc. is a clinical-stage oncology-focused company applying its proprietary Dynamic Tumor Targeting™ platform to develop differentiated therapies. The Company's nanopharmaceutical product candidates consist of proprietary polymers that are covalently linked to anti-cancer therapeutics. The Company's technology platform can be also applied to a wide range of drug molecules, ranging from small molecules to peptides and RNAs. Cerulean is located in Cambridge, Massachusetts.
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Source:Cerulean Pharma Inc.