Principia Biopharma Inc. (NASDAQ: PRNB), the San Francisco-based late-stage biopharmaceutical company focused on developing novel therapies for immune mediated diseases, today announced that it has commenced an underwritten public offering of $125 million of its common stock.
Principia also intends to grant the underwriters a 30-day option to purchase up to an additional $18,750,000 of the shares of common stock sold in the public offering. All of the shares are being offered by Principia.
BofA Merrill Lynch, SVB Leerink, and Wells Fargo Securities are acting as joint book-running managers for the offering. Baird is acting as lead manager and H.C. Wainwright is acting as co-manager for the offering.
The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
The shares are being offered by Principia pursuant to an effective shelf registration statement that was filed with the Securities and Exchange Commission (SEC) on October 1, and declared effective by the SEC on October 11.
Also Tuesday, the company announced positive preliminary data from an ongoing Phase 1/2 trial of its investigational treatment, PRN1008, in a highly treatment-resistant and refractory patient population (median of five prior therapies) with immune thrombocytopenia (ITP).
Further updated data from the trial will be presented at an oral scientific session at the 61st American Society of Hematology Annual Meeting in December.
Shares dipped $1.01, or 3.4%, to $28.90
