NeuroDerm Prices Follow-On Stock Offering at 2.1% Discount

NeuroDerm said Wednesday that it has priced a follow-on offering of 4 million ordinary shares at a price of $18.75 per share, or a 2.1% discount from the stock’s previous close, for total expected gross proceeds of $75 million.

The underwriters have been granted a 30-day option to purchase up to 0.6 million additional shares.

The company intends to use the net proceeds to fund its ongoing and planned clinical trials, for research and development of related devices and other product candidates, and for general corporate purposes.  The offering is expected to close on or about Dec. 12, subject to customary closing conditions.

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