Policy & Regulation
Intec Pharma concludes USD35.4m public offering
16 April 2018 -

Biopharmaceutical company Intec Pharma Ltd (NASDAQ:NTEC) (TASE:NTEC) disclosed on Friday the completion of the sale of 6.75 million of its ordinary shares in a public offering.

All of the shares were issued by the company at a public offering price of USD5.25 per ordinary share for gross proceeds of approximately USD35.4m, before deducting underwriting discounts and commissions and other estimated offering expenses.

In the offering, Oppenheimer & Co Inc acted as the sole book-running manager. Ladenburg Thalmann and Roth Capital Partners acted as co-managers.

Net proceeds may be used by the company to fund the company's Phase III clinical trial for Accordion Pill Carbidopa/Levodopa for the treatment of Parkinson's disease symptoms in advanced Parkinson's disease patients, to advance its pre-commercial activities and working capital, as well as other general corporate purposes.