BOSTON, Sept. 09, 2020 (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 4,000,000 shares of its common stock at a price to the public of $40.00 per share. Albireo’s gross proceeds from this offering are expected to be $160 million, before deducting underwriting discounts and commissions and offering expenses. In addition, Albireo has granted the underwriters a 30-day option to purchase up to an additional 600,000 shares of common stock at the public offering price, less underwriting discounts and commissions. All of the shares in the offering are being sold by Albireo. The offering is expected to close on or about September 14, 2020, subject to satisfaction of customary closing conditions.

Cowen and William Blair are acting as the joint book-running managers and representatives of the underwriters for the offering. Wedbush PacGrow, H.C. Wainwright & Co. and Baird are acting as co-managers for the offering.

About Albireo

Albireo Pharma is a clinical-stage biopharmaceutical company focused on the development of novel bile acid modulators to treat orphan pediatric liver diseases, and other liver and gastrointestinal diseases and disorders. Albireo’s lead product candidate, odevixibat, is being developed to treat rare pediatric cholestatic liver diseases and is in Phase 3 development in progressive familial intrahepatic cholestasis (PFIC) and biliary atresia, with a third Phase 3 trial being planned in Alagille syndrome. Albireo was spun out from AstraZeneca in 2008. Albireo Pharma is located in Boston, Massachusetts, and its key operating subsidiary is located in Gothenburg, Sweden.