Strongbridge Biopharma stock spikes after terminating offer of ordinary shares
Strongbridge Biopharma plc (NASDAQ:SBBP) shares rallied on Thursday after the company announced it is terminating its public offering of ordinary shares.
The company said it had terminated the public offering it had announced on August 14. It added current market conditions are not conducive for an offering on terms which would be in the best interests of Strongbridge shareholders.
Strongbridge had announced this week it intends to offer and sell 9 million of its shares in an underwritten public offering.
Shares of the company surged in the premarket in New York, rising nearly 9% to US$5.50.
READ: Oppenheimer raises price target for Strongbridge Biopharma to US$15 citing its rare disease assets
Strongbridge’s rare endocrine franchise includes Macrilen, the first and only FDA-approved oral drug indicated for the diagnosis of adult growth hormone deficiency, Recorlev, a cortisol synthesis inhibitor currently being studied in Phase 3 clinical studies for the treatment of endogenous Cushing’s syndrome, and veldoreotide extended release, a pre-clinical next-generation somatostatin being investigated for the treatment of acromegaly and potential additional applications in other conditions amenable to somatostatin receptor activation.
Strongbridge Biopharma is a global commercial-stage biopharmaceutical company focused on the development and commercialization of therapies for rare diseases with significant unmet needs. The company is based in Dublin, Ireland.
Contact Rene Pastor at [email protected]
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/203070/strongbridge-biopharma-stock-spikes-after-terminating-offer-of-ordinary-shares-203070.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).