Boston-based Albireo Pharma, a clinical-stage orphan pediatric liver disease company developing novel bile acid modulators, has completed its public offering of 1,970,000 shares of its common stock at a price to the public of $33.00 per share.
In addition, the underwriters have exercised an option to purchase an additional 295,500 shares of common stock at the public offering price, less the underwriting discounts and commissions.
The company spun out from AstraZeneca in 2008, said that all of the shares in the offering were sold, with gross proceeds to the company of about $74.8 million and net proceeds of approximately $69.9 million. The numbers are after deducting underwriting discounts and commissions and estimated offering expenses, the company said in its announcement on Monday.
The bullish company’s stocks were seen at $37.045 on Wednesday, 4.38% up from previous closed at $ 37.045.