WALTHAM, Mass., July 26, 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 the pricing of its previously announced underwritten public offering of 10,000,000 shares of its common stock at a price to the public of $5.50 per share, before deducting underwriting discounts and commissions and other offering expenses payable by Chiasma. In addition, Chiasma has granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of its common stock at the public offering price, less underwriting discounts and commissions. This offering is expected to close on or about July 30, 2019, subject to customary closing conditions.

Piper Jaffray & Co. and Cantor Fitzgerald & Co. are acting as joint book-running managers for the offering. H.C. Wainwright & Co., Roth Capital Partners and Brookline Capital Markets are acting as co-managers for the offering.

Chiasma expects to receive gross proceeds of $55.0 million, before deducting underwriting discounts and estimated offering expenses (without giving effect to any exercise of the underwriters’ option to purchase additional shares). Chiasma intends to use these proceeds primarily for commercialization of MYCAPSSA in the United States, if approved, and for working capital and other general corporate purposes.

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 July 2019, Chiasma reported statistically significant data from 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. Prior to trial initiation, Chiasma reached 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.