BioCentury
ARTICLE | Financial News

Strongbridge raises $25M in U.S. listing

October 17, 2015 1:30 AM UTC

Strongbridge Biopharma plc (NASDAQ:SBBP) gained $0.05 to $10.05 in its first day of trading on NASDAQ on Friday after it raised $25 million through the sale of 2.5 million shares at $10 in a deal underwritten by Stifel; JMP Securities; Roth Capital Partners; and Arctic Securities. The price valued Strongbridge at $212.1 million.

Strongbridge filed in August to raise up to $86.3 million. Last month, it said it hoped to sell 4.3 million shares, which would have raised $76.2 million based on an estimated offering price of $17.93. That price was based on Strongbridge's Sept. 18 closing price of NOK145 on the Norwegian Over-The-Counter System and would have valued the company at $411.6 million. ...