Impel NeuroPharma Inc's (NASDAQ: IMPL) has priced its previously announced underwritten public offering of three million shares at $15.00 per share for gross proceeds of $45 million.
The offer price represents a steep discount of 29% from the last close price of $21.13 on Thursday. The company's stock gained 27.25% to close higher on Thursday at $21.13.
The offering will close by September 14.
Impel will use the proceeds to fund the commercial launch activities and market development of Trudhesa, advance INP105 into a clinical proof-of-concept trial in patients with ASD.
Impel NeuroPharma, Inc. is a commercial-stage biopharmaceutical company developing transformative therapies for people suffering from diseases with high unmet medical needs, with an initial focus on the central nervous system.
Impel offers and is developing treatments that pair its proprietary Precision Olfactory Delivery (POD ® ) technology with well-established
therapeutics. In addition to TRUDHESA™ nasal spray, which is approved in the United States for the acute treatment of migraine with or without aura in adults, Impel is also developing INP105 for the acute treatment of agitation and aggression in patients with autism, and INP107 for OFF episodes in Parkinson’s disease.
IMPL stock is down $4.15, or 19.7%, at $16.98 during the first hour of Friday`s session.
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