Neurocrine Biosciences Prices Public Offering Of 6.94 Mln Shares At $36/shr

(RTTNews) - Neurocrine Biosciences, Inc. (NBIX) has priced its underwritten public offering of 6.94 million common shares at a price of $36.00 per share. The gross proceeds to Neurocrine from this offering, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Neurocrine, are expected to be about $250 million. The offering may close on or about February 24, 2015.

Neurocrine plans to make use the net proceeds from the offering to fund its research and development efforts, to prepare for commercialization efforts and for general corporate purposes, including working capital. The underwriters were granted a 30-day option to buy up to an aggregate of 1.04 million additional common shares.

J.P. Morgan Securities LLC and Deutsche Bank Securities Inc. are acting as joint book-running managers for this offering, Jefferies LLC and Barclays Capital Inc. are acting as co-lead managers for this offering and Cowen and Company, LLC and Nomura Securities International, Inc. are acting as co-managers for this offering.