BURLINGTON, Mass., Nov. 29, 2017 (GLOBE NEWSWIRE) -- scPharmaceuticals Inc.(Nasdaq:SCPH), 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 it has issued an additional 894,968 shares of common stock at the initial public offering price of $14.00, resulting in additional gross proceeds of approximately $12.5 million, pursuant to the exercise of the underwriters’ over-allotment option in connection with the Company’s previously announced initial public offering of common stock. After giving effect to exercise of the over-allotment option, the total number of shares sold by scPharmaceuticals in the initial public offering was 7,294,968 shares and the gross proceeds were approximately $102.1 million, before deducting underwriting discounts and commissions and expenses associated with the offering payable by the Company. All 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.
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.