Egalet announces plans to price its initial public offering of stock

Stifel, JMP, Canaccord Genuity and Janney Montgomery Scott will assist

By Devika Patel

Knoxville, Tenn., Oct. 16 - Egalet Corp. will conduct an initial public offering of its common stock with a 30-day greenshoe, according to a Form S-1 filed Wednesday with the Securities and Exchange Commission.

Stifel and JMP Securities are the joint bookrunning managers. Canaccord Genuity and Janney Montgomery Scott are the co-managers.

Proceeds will be used for bioequivalence trials and abuse deterrence studies for Egalet-001, phase 3 efficacy and safety trials, as well as alcohol interaction studies and abuse deterrence studies for Egalet-002, to establish commercial manufacturing capability for Egalet-001 and Egalet-002, for research and development operations, for working capital and for general corporate purposes.

The pharmaceutical company is based in Malvern, Pa. It intends to list its common stock on the Nasdaq under the symbol "EGLT."

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