ChemoCentryx Floats Common Stock Issue

ChemoCentryx (NASDAQ: CCXI  ) is set to raise up to $60 million in a new public offering of its common stock. The company also intends to grant its underwriters a 30-day purchase option for an additional $9 million worth of shares to cover over-allotments, if any.

The issue has commenced, although the company added that "there can be no assurance as to whether or when the offering may be completed."

ChemoCentryx said it plans to use the proceeds "to fund development of our drug candidates, for working capital and other general corporate purposes."

JPMorgan Chase unit J.P. Morgan Securities and Goldman Sachs are the joint book-running managers of the offering.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

DocumentId: 2364443, ~/Articles/ArticleHandler.aspx, 7/22/2014 10:24:34 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement