Sierra Oncology, Inc. (Nasdaq: SRRA), a late-stage biopharmaceutical company dedicated to delivering targeted therapies for rare cancers, today announced that the underwriters of its previously announced underwritten public offering exercised in full their option to purchase 750,000 additional shares of common stock at a price of $27.00 per share, before deducting underwriting discounts and commissions. With this exercise, the aggregate gross proceeds to Sierra Oncology from the offering were approximately $155.3 million, before deducting underwriting discounts and commissions and other offering expenses. The offering of the additional 750,000 shares closed on February 3, 2022. Sierra Oncology intends to use the net proceeds of the offering to prepare for potential commercialization of momelotinib, clinical development of its other product candidates, research, clinical and process development and manufacturing of its product candidates, working capital, and capital expenditures and other general corporate purposes.
Sierra Oncology Announces Full Exercise of Underwriters' Option to Purchase Additional Shares
Feb 03, 2022
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