Recro Pharma, Inc. (NASDAQ:REPH) Files An 8-K Other EventsItem 8.01 Other Events.
On December 16, 2016, Recro Pharma, Inc. (the “Company”) announced that it closed its underwritten public offering (the “Offering”) of 6,500,000 shares of the Company’s common stock, par value $0.01 per share (the “Common Stock”). At the closing, the Company sold 6,670,000 shares of Common Stock at the public offering price of $6.00 per share, which included 170,000 shares of Common Stock issued to the partial exercise of the underwriters’ option to purchase additional shares. All of the shares in the Offering were sold by the Company, resulting in approximately $36.9 million of net proceeds to the Company, after deducting the underwriters’ discounts and commission and other estimated offering expenses payable by the Company. The underwriters have until January 12, 2017 to exercise their option to purchase an additional 805,000 shares of the Company’s common stock at the public offering price less the applicable underwriting discount. The Company intends to use the net proceeds from this offering to fund the filing of the new drug application and regulatory approval process and preparatory commercial activities for IV meloxicam, the Company’s planned IV meloxicam Phase IIIB program, and for general corporate purposes.
Piper Jaffray & Co. acted as sole book-running manager and representative of the underwriters for the Offering. Janney Montgomery Scott and ROTH Capital Partners acted as co-managers for the Offering.
The Offering was made to the Company’s effective registration statement on Form S-1 (Registration No. 333-214856) filed with the Securities and Exchange Commission (the “SEC”) on December 1, 2016, as amended, and declared effective by the SEC on December 13, 2016, and a final prospectus filed with the SEC on December 13, 2016.
About Recro Pharma, Inc. (NASDAQ:REPH)
Recro Pharma, Inc. is a clinical-stage specialty pharmaceutical company. The Company is engaged in developing products for hospitals and ambulatory care settings that is developing non-opioid products for treatment of serious acute pain. The Company’s lead product candidate is an injectable form of meloxicam. Its product candidates for pain indications include injectable meloxicam, a product candidate in development for the treatment of acute post-operative pain; Dex-IN, a product candidate under development for the treatment of post-operative pain; Dex-SL, a product candidate for the treatment of chronic pain, and Fadolmidine (Fado), a product candidate used by injection into the spine for pain associated with surgery or certain types of chronic pain and which the Company pursues as a topical product for local application to treat serious pain associated with nerve damage to local tissues (neuropathies), especially of the lower extremities, which can occur in diabetic patients. Recro Pharma, Inc. (NASDAQ:REPH) Recent Trading Information
Recro Pharma, Inc. (NASDAQ:REPH) closed its last trading session up +0.31 at 7.15 with 258,875 shares trading hands.