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Nivalis Therapeutics Announces Closing of Its Initial Public Offering and Full Exercise of Underwriters' Option to Purchase Additional Shares

BOULDER, Colo., June 23, 2015 (GLOBE NEWSWIRE) -- Nivalis Therapeutics, Inc. (Nasdaq:NVLS), a clinical stage pharmaceutical company focused on treating people with cystic fibrosis, announced today the closing of its initial public offering of 6,325,000 shares of its common stock at a price to the public of $14.00 per share, which included 825,000 shares sold pursuant to the exercise in full of the underwriters' option to purchase additional shares, for aggregate proceeds of $88.55 million, before underwriting commission and discounts and offering expenses. Nivalis common stock is listed on The NASDAQ Global Market under the symbol "NVLS".

Cowen and Company and Stifel acted as joint lead book-running managers for the offering. Baird and H.C. Wainwright & Co. acted as co-managers for the offering.

A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission on June 16, 2015. The offering is being made only by means of a prospectus. Copies of the final prospectus related to the offering may be obtained from: Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, by telephone at (631) 274-2806 or by fax at (631) 254-7140; or Stifel, Nicolaus & Company, Incorporated, One Montgomery Street, Suite 3700, San Francisco, CA 94104, Attn: Syndicate, by telephone at (415) 364-2720 or by email at syndprospectus@stifel.com.

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 any such state or jurisdiction.

About Nivalis Therapeutics, Inc.

Nivalis Therapeutics, Inc. is a clinical stage pharmaceutical company committed to the discovery, development and commercialization of small molecule therapeutics for patients with cystic fibrosis. In addition to developing innovative solutions that extend and improve the lives of people with cystic fibrosis, Nivalis plans to utilize its proprietary S-nitrosoglutathione reductase (GSNOR) inhibitor portfolio to develop therapeutics for patients with other diseases.

CONTACT: Investor Relations Contact: John Graziano 1-646-378-2942 jgraziano@troutgroup.com Media Contact: Lindsay Rocco 1-862-596-1304 lrocco@elixirhealthpr.comSource:Nivalis Therapeutics