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Alcobra Raises $33 Million In Secondary Nasdaq Offering

The ADHD treatment developer raised $27 million in its IPO in May.

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Alcobra Pharmaceuticals Ltd. (Nasdaq: ADHD) raised a gross $33 million in its secondary offering on Thursday. The company issued two million shares at $16.50 per share. The underwriters, Stifel Nicolaus, Aegis Capital Corp., JMP Securities have a 30-day option to buy additional 300, 000 sharesAlcobra will use the proceeds for the development of its proprietary drug, MG01CI (Metadoxine extended-release), for the treatment of ADHD and Fragile X Syndrome, a factor in autism.

Alcobra raised $27 million in its IPO in May.

Alcobra’s share price closed at $17.01 on Friday, giving a market cap of $189 million, after falling 0.5% during the session.

 

Published by www.globes-online.com 

1 Comment

1 Comment

  1. edwartfruitman

    March 12, 2015 at 8:22 am

    With the rapid increase in cases of ADHD, this issue has
    become more of a health crisis. Many psychiatrist
    and pharmaceutical companies are working together to find a lasting solution
    for this drastic mental disorder.

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