Durata could raise $57.5 million through public stock offering

Deal sells shares via BofA Merrill Lynch, Credit Suisse, Jefferies

By Toni Weeks

San Luis Obispo, Calif., April 1 - Durata Therapeutics, Inc. could raise up to $57.5 million in a public offering of stock. The deal has a greenshoe.

BofA Merrill Lynch, Credit Suisse Securities (USA) LLC and Jefferies LLC will lead a syndicate of underwriters that also includes JMP Securities LLC and RBC Capital Markets, LLC.

Proceeds will be used primarily for dalbavancin, specifically for marketing approval of the drug candidate in the United States and the European Union for the treatment of patients with acute bacterial skin and skin-structure infections, the scale-up of manufacturing for its commercial launch, its development for additional indications and additional commercial activities for the drug in the United States and possibly western Europe. Proceeds will also be used for working capital and other general corporate purposes.

The pharmaceutical company is based in Chicago.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.