BOSTON, May 24, 2017 (GLOBE NEWSWIRE) -- Albireo Pharma, Inc. (NASDAQ:ALBO), a clinical-stage orphan pediatric liver disease company developing novel bile acid modulators, announced today the pricing of its previously announced underwritten public offering of 2,200,000 shares of its common stock at a price to the public of $20.50 per share. Albireo’s gross proceeds from this offering are expected to be approximately $45.1 million, before deducting underwriting discounts and commissions and estimated offering expenses. In addition, Albireo has granted the underwriters a 30-day option to purchase up to an additional 330,000 shares of common stock on the same terms and conditions. All of the shares in the offering are being sold by Albireo. The offering is expected to close on or about May 30, 2017, subject to customary closing conditions.

Cowen and William Blair are acting as joint book-running managers and representatives of the underwriters for the offering. Needham & Company and Wedbush PacGrow are acting as co-managers.

About Albireo

Albireo is a clinical-stage biopharmaceutical company focused through its operating subsidiary on the development of novel bile acid modulators to treat orphan pediatric liver diseases and other liver and gastrointestinal diseases and disorders. Albireo’s clinical pipeline includes two Phase 3 product candidates and one Phase 2 product candidate. Albireo was spun out from AstraZeneca in 2008.