WALTHAM, Mass., April 03, 2019 (GLOBE NEWSWIRE) -- Chiasma, Inc. (Nasdaq: CHMA), a clinical-stage biopharmaceutical company focused on improving the lives of patients with rare and serious chronic diseases, today announced that it has closed its previously announced underwritten public offering of 7,263,158 shares of its common stock at a price to the public of $4.75 per share for gross proceeds of approximately $34.5 million. The shares include 947,368 shares of common stock sold pursuant to the option granted by the Company to the underwriters, which option was exercised in full. Chiasma anticipates using the proceeds from the offering primarily for development costs, including the conduct of its ongoing Phase 3 clinical trials of octreotide capsules, preparation for potential commercialization in the United States, and for working capital and other general corporate purposes.
Cantor Fitzgerald & Co. acted as sole book-running manager for the offering. H.C. Wainwright & Co., Roth Capital Partners, Brookline Capital Markets, a division of CIM Securities, LLC and LifeSci Capital LLC acted as co-managers for the offering.
About Chiasma
Chiasma, Inc. (Nasdaq: CHMA) is focused on improving the lives of patients who face challenges associated with their existing treatments for rare and serious chronic diseases. Employing its Transient Permeability Enhancer (TPE®) technology platform, Chiasma seeks to develop oral medications that are currently available only as injections. In September 2017, the Company initiated CHIASMA OPTIMAL, its third Phase 3 clinical trial for its octreotide capsules product candidate, conditionally trade-named MYCAPSSA®, for the maintenance therapy of adult patients with acromegaly in whom prior treatment with somatostatin analogs has been shown to be effective and tolerated following agreement with the FDA on the design of the trial through a special protocol assessment. Chiasma is headquartered in Waltham, MA with a wholly-owned subsidiary in Israel. MYCAPSSA, TPE and CHIASMA are registered trademarks of Chiasma.
