Synageva BioPharma Corp. (NASDAQ:GEVA), a clinical stage biopharmaceutical company developing therapeutic products for rare disorders, has commenced a $80 million underwritten public offering of shares of its common stock. In connection with this offering, Synageva expects to grant to the underwriters a 30-day option to purchase additional shares of common stock to cover over-allotments, if any, equal to up to 15% of the number of shares of common stock sold in the offering. Morgan Stanley and J.P. Morgan are acting as joint book-running managers in the offering.

Synageva is a clinical stage biopharmaceutical company focused on the discovery, development, and commercialization of therapeutic products for patients with life-threatening rare diseases and unmet medical need. Synageva has several protein therapeutics in its pipeline. The company has assembled a team with a proven record of bringing orphan therapies to patients.