BOSTON, May 30, 2017 (GLOBE NEWSWIRE) -- Albireo Pharma, Inc. (NASDAQ:ALBO), a clinical-stage orphan pediatric liver disease company developing novel bile acid modulators, announced today the completion of its previously announced underwritten public offering of 2,200,000 shares of its common stock at a price to the public of $20.50 per share. In addition, the underwriters have exercised an option to purchase an additional 330,000 shares of common stock at the public offering price, less the underwriting discounts and commissions. All of the shares in the offering were sold by Albireo, with gross proceeds to Albireo of approximately $51.9 million and net proceeds of approximately $48.2 million, after deducting underwriting discounts and commissions and estimated offering expenses.
Cowen and William Blair acted as joint book-running managers and representatives of the underwriters for the offering. Needham & Company and Wedbush PacGrow acted as co-managers.
The offering was made pursuant to a shelf registration statement on Form S-3 that was previously filed with the Securities and Exchange Commission (SEC). The final prospectus supplement and accompanying prospectus have been filed with the SEC and are available at the SEC’s website located at www.sec.gov, copies of which may be obtained from Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus Department, or by telephone at 631-274-2806, and from William Blair & Company, L.L.C., Attention: Prospectus Department, 222 West Adams Street, Chicago, IL 60606, or by telephone at 1-800-621-0687 or email at email@example.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
Albireo is a clinical-stage biopharmaceutical company focused through its operating subsidiary on the development of novel bile acid modulators to treat orphan pediatric liver diseases and other liver and gastrointestinal diseases and disorders. Albireo’s clinical pipeline includes two Phase 3 product candidates and one Phase 2 product candidate. Albireo was spun out from AstraZeneca in 2008.
Albireo Pharma is located in Boston, Massachusetts, and its key operating subsidiary, Albireo AB, is located in Gothenburg, Sweden.
Source: Albireo Pharma, Inc.
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