FX.co ★ Corbus Pharmaceutical Prices Offering Of Approx. 4.3 Mln Shares At $19 Per Share; Stock Up

On Wednesday, Corbus Pharmaceuticals Holdings, Inc. (CRBP), revealed it is offering 4.325 million shares at $19 a share, expected to raise an estimated total of $82.2 million.

The company plans on using these proceeds to fund future clinical pipeline projects and corporate-related purposes. The deal is set to close on or around the 2nd of February.

On top of the primary offering, underwriters have been given a 30-day option to purchase up to an additional 648,750 shares.

Jefferies has been appointed as the sole book-runner for the offering. Following the announcement, Corbus's stock rose by 3.64 percent to $26.08, in comparison to the previous close of $25.16, with a total volume of 1,774,228 on the Nasdaq.