Baird served as lead manager on this offering
AboutPrincipia Biopharma Inc. (“Principia” or the “Company”) (NASDAQ-GS: PRNB) recently completed an underwritten public offering of 8,625,000 shares of its common stock at a price to the public of $28.00 per share, which includes the exercise in full by the underwriters of their option to purchase an additional 1,125,000 shares of common stock. The gross proceeds to Principia from the offering are expected to be $241.5 million before deducting the underwriting discounts and commissions and estimated expenses payable by the Company.
Principia is a late-stage biopharmaceutical company focused on developing novel therapies for immune mediated diseases. Principia’s proprietary Tailored Covalency® platform differentiates the company’s investigational therapies from traditional small molecules and provides the potential to deliver the potency, selectivity and safety of injectable drugs while maintaining the convenience of a pill. This highly reproducible approach enables the company to pursue multiple programs efficiently. PRN1008, a reversible covalent BTK inhibitor, is being evaluated in a Phase 3 clinical trial in patients with pemphigus, an orphan autoimmune disease, and in a Phase 1/2 clinical trial in patients with ITP. PRN2246/SAR442168, a covalent BTK inhibitor that crosses the blood-brain barrier, has commenced a Phase 2 clinical trial in patients with multiple sclerosis, and has been partnered with Sanofi. PRN1371, a covalent inhibitor of Fibroblast Growth Factor Receptor (FGFR) is being evaluated in a Phase 1 trial in patients with bladder cancer. Principia Biopharma Inc. is headquartered in South San Francisco, California.
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- October 2019
- Principia Biopharma Inc.
- Target Location
- North America