Receptos Prices Public Offering Of 3.60 Mln Shares At $100/shr - Quick Facts

(RTTNews) - Receptos Inc. (RCPT), a biopharmaceutical company developing therapeutic candidates for the treatment of immune and metabolic diseases, announced that it has priced an underwritten public offering of 3.60 million shares of its common stock at a price to the public of $100.00 per share.

The gross proceeds to Receptos from this offering are expected to be $360 million, before deducting underwriting discounts and commissions and other estimated offering expenses. All of the shares of common stock to be sold in the offering are being offered by Receptos. In addition, Receptos said it has granted the underwriters a 30-day option to purchase up to an additional 540,000 shares of common stock. The offering is expected to close on or about November 24, 2014, subject to customary closing conditions.

The company noted that it intends to use the net proceeds received from this offering to fund continued development of its product candidate RPC1063 in ongoing and planned clinical trials for Relapsing Multiple Sclerosis, Ulcerative Colitis and Crohn's Disease, continued development of its in-licensed product candidate RPC4046 in an ongoing clinical trial for Eosinophilic Esophagitis, ongoing preclinical and research programs, and working capital and other general corporate purposes.