Recro Pharma announces plans to price initial public stock offering

Proceeds used for phase 2b bunionectomy trial, preclinical studies

By Devika Patel

Knoxville, Tenn., Oct. 24 - Recro Pharma, Inc. will price an initial public offering of common stock with a 45-day greenshoe, according to a Form S-1 filed Thursday with the Securities and Exchange Commission.

Aegis Capital Corp. is the bookrunner.

Proceeds will be used for the phase 2b bunionectomy trial, preclinical studies, two phase 3 pivotal trials, safety clinical trials and manufacturing work for Dex-IN, working capital needs and other general corporate purposes.

The clinical stage specialty pharmaceutical company is based in Malvern, Pa. The company expects its shares will trade on the Nasdaq under the symbol "REPH."

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