Corbus Pharmaceuticals Prices Common Stock Public Offering

Corbus Pharmaceuticals Holdings (NASDAQ:CRBP) announced it has priced its public offering of 4,650,000 shares of common stock at $7.00 per share price.
As quoted in the press release:

Corbus has also granted the underwriters a 30-day option to purchase up to an additional 697,500 shares of common stock on the same terms as the underwriters are purchasing the base number of shares. After the underwriting discounts and commissions and other estimated offering expenses payable by it, Corbus expects to receive net proceeds from the offering of approximately $30.4 million, assuming no exercise of the option to purchase additional shares. Corbus currently expects to use the net proceeds from the offering to fund its continued development of anabasum and for general corporate purposes, which may include funding preclinical studies and clinical trials, manufacturing anabasum for clinical trials and commercial launch, and acquisitions or investments in businesses, products or technologies that are complementary, and to increase its working capital and fund capital expenditures. The offering is expected to close on or about October 26, 2017, subject to customary closing conditions.

Click here to read the full press release.

Source: www.marketwired.com