SAN DIEGO--(BUSINESS WIRE)--
Retrophin, Inc. (NASDAQ:RTRX), a biopharmaceutical company focused on
the discovery and development of drugs for the treatment of catastrophic
diseases that are debilitating and often life-threatening, and for which
there are currently limited patient options, today announced the closing
of its previously announced underwritten public offering of 7,866,000
shares of its common stock at a price to the public of $19.00 per share,
including 1,026,000 shares sold pursuant to the full exercise of the
underwriters' option to purchase additional shares. The gross proceeds
to Retrophin from this offering, before deducting underwriting discounts
and commissions and offering expenses payable by Retrophin, were
approximately $149.5 million. Retrophin anticipates using the net
proceeds from the offering to fund its research and development efforts,
acquisitions or investments in additional complementary businesses,
products and technologies, including $27 million to fund the initial
cash milestone payment payable in connection with the acquisition of an
additional clinical asset from Asklepion Pharmaceuticals, LLC, and for
general corporate purposes, including working capital.
Leerink Partners LLC and Deutsche Bank Securities Inc. acted as joint
book-running managers for the offering. Nomura Securities International,
Inc. and JMP Securities LLC acted as co-managers for the offering.
Registration statements relating to these securities became effective as
of March 18, 2015. A final prospectus supplement and accompanying
prospectus relating to the offering was filed with the Securities and
Exchange Commission (the "SEC") and is available for free on the SEC's
website at http://www.sec.gov.
Copies of the final prospectus supplement and the accompanying
prospectus relating to these securities may also be obtained from
Leerink Partners LLC, Attention: Syndicate Department, One Federal
Street, 37th Floor, Boston, MA, 02110, or by email at syndicate@leerink.com,
or by phone at (800) 808-7525 ext. 6142, or from Deutsche Bank
Securities Inc., Attn: Prospectus Department, 60 Wall Street, New York,
New York 10005-2836, or at 1-800-503-4611 or prospectus.cpdg@db.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there be any
sale of these securities in any state or other jurisdiction in which
such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or other jurisdiction.
Forward-Looking Statements
In addition to historical facts, this press release contains
forward-looking statements that involve a number of risks and
uncertainties, such as those relating to Retrophin's anticipated use of
proceeds from the public offering. Among the factors that could cause
actual results to differ materially from those indicated in the
forward-looking statements are risks and uncertainties associated with
Retrophin's business and finances in general, and the other risks
described in Retrophin's annual report on Form 10-K and Form 10-K/A for
the year ended December 31, 2014 and other filings with the SEC.
Retrophin undertakes no obligation to update the statements contained in
this press release after the date hereof.
Retrophin, Inc.
Chris Cline, CFA
Manager, Investor Relations
646-564-3680
IR@retrophin.com
Source: Retrophin, Inc.
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