Alcobra Ltd. Prices Initial Public Offering of 3,125,000 Ordinary Shares

NEW YORK, May 21, 2013 (GLOBE NEWSWIRE) -- Alcobra Ltd., an emerging biopharmaceutical company primarily focused on the development and commercialization of a proprietary drug, MG01CI, to treat Attention Deficit Hyperactivity Disorder, today announced the pricing of its initial public offering of 3,125,000 ordinary shares at an initial public offering price of $8.00 per share. The gross proceeds to Alcobra from the initial public offering are expected to be $25,000,000 before underwriting discounts and commissions and other offering expenses. Alcobra has granted the representative of the underwriters a 45-day option to purchase up to 458,125 additional ordinary shares from Alcobra to cover over-allotments, if any. The ordinary shares are scheduled to begin trading on The NASDAQ Capital Market on May 22, 2013 under the symbol "ADHD." The offering is expected to close on May 28, 2013, subject to customary closing conditions.

Aegis Capital Corp. is acting as sole book-running manager for the offering.

Sunrise Securities Corp. and Feltl & Company, Inc are acting as co-managers for the offering.

A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission on May 21, 2013.

This offering is being made only by means of a prospectus. Copies of the prospectus relating to this offering may be obtained by contacting Aegis Capital Corp., Prospectus Department, 810 Seventh Avenue, 18th Floor, New York, NY 10019, telephone: 212-813-1010, e-mail: prospectus@aegiscap.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 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 jurisdiction.

About Alcobra Ltd.

Alcobra Ltd. is an emerging biopharmaceutical company primarily focused on the development and commercialization of a proprietary drug, MG01CI, to treat Attention Deficit Hyperactivity Disorder. MG01CI has completed Phase II studies to treat Attention Deficit Hyperactivity Disorder. The company was founded in 2008 and is headquartered in Tel Aviv, Israel.

Forward Looking Statements

This press release contains forward-looking statements. Words such as "expect," "believe," "intend," "plan," "continue," "may," "will," "anticipate," and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve certain risks and uncertainties, including, among others, risks impacting the ability of Alcobra Ltd. to complete any public offering of its securities because of general market conditions or other factors and risks that could cause the results to differ materially from those expected by the management of Alcobra Ltd. More detailed information about the risks and uncertainties affecting Alcobra Ltd. is contained under the heading "Risk Factors" in Alcobra Ltd.'s registration statement on Form F-1 filed with the SEC, which is available on the SEC's web site, www.sec.gov. Alcobra Ltd. undertakes no obligation to update or revise any forward-looking statements.

CONTACT: U.S. Investor Contacts: KCSA Strategic Communications Jeffrey Goldberger / Garth Russell +1 212.896.1249 / +1 212.896.1250 jgoldberger@kcsa.com / grussell@kcsa.com Israel Investor Contact: Investor Relations Ltd. Moran Meir-Beres +011972-3-5167620 moran@km-ir.co.ilSource:Alcobra Ltd.