BURLINGTON, Mass., Nov. 29, 2017 (GLOBE NEWSWIRE) -- scPharmaceuticals Inc. a pharmaceutical company focused on developing and commercializing products that have the potential to transform the way therapy is delivered, advance patient care and reduce healthcare costs, today announced the closing of its initial public offering of 6,400,000 shares of common stock at a public offering price of $14.00 per share. All of the shares sold in the offering were offered by scPharmaceuticals. scPharmaceuticals common shares began trading on The Nasdaq Global Select Market under the ticker symbol “SCPH” on November 17, 2017.
Gross proceeds from the offering are $89.6 million, before deducting underwriting discounts and commissions and expenses associated with the offering payable by the Company. In addition, the Company has granted the underwriters a 30-day option to purchase up to 960,000 additional shares of common stock at the initial public offering price, less the underwriting discount.
Jefferies, Leerink Partners and BMO Capital Markets acted as joint book-running managers for the offering.
scPharmaceuticals is a clinical-stage pharmaceutical company focused on developing and commercializing products that have the potential to transform the way therapy is delivered, advance patient care and reduce healthcare costs. Our proprietary platform is designed to enable the subcutaneous administration of therapies that have previously been limited to intravenous (IV) delivery.