Chiasma (NASDAQ: CHMA), a clinical-stage biopharmaceutical company focused on improving the lives of patients with rare and serious chronic diseases, recently announced the closing of its underwritten public offering of 7,263,158 shares of its common stock at a price to the public of $4.75 each. The shares include 947,368 additional shares of common stock that were sold pursuant to the over-allotment option granted by the company to the underwriters, which was exercised in full. Chiasma received total gross proceeds of approximately $34.5 million, which the company intends to use primarily toward development costs, including the conduct of its ongoing phase 3 clinical trials of octreotide capsules, as well as toward the preparation for potential commercialization in the United States, and for working capital and other general corporate purposes. Cantor Fitzgerald & Co. served as sole book-running manager for the offering. H.C. Roth Capital Partners, Wainwright & Co., Brookline Capital Markets, a division of CIM Securities, LLC and LifeSci Capital LLC served as co-managers for the offering.
To view the full press release, visit http://nnw.fm/lGS2f
About Chiasma
Chiasma, Inc. is focused on improving the lives of patients who face challenges associated with their existing treatments for rare and serious chronic diseases. Employing its Transient Permeability Enhancer (TPE®) technology platform, Chiasma seeks to develop oral medications that are currently available only as injections. In September 2017, the company initiated CHIASMA OPTIMAL, its third Phase 3 clinical trial for its octreotide capsules product candidate, conditionally trade-named MYCAPSSA®, for the maintenance therapy of adult patients with acromegaly in whom prior treatment with somatostatin analogs has been shown to be effective and tolerated following agreement with the FDA on the design of the trial through a special protocol assessment. Chiasma is headquartered in Waltham, MA with a wholly-owned subsidiary in Israel. MYCAPSSA, TPE and CHIASMA are registered trademarks of Chiasma. For more information, visit the company’s website at www.ChiasmaPharma.com.
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 888-902-4192 (U.S. Mobile Phones Only)
For more information please visit https://www.networknewswire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.networknewswire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
