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Coronado Biosciences Announces Closing of $28.8 Million Public Offering
6/28/2012 9:27:43 AM
BURLINGTON, Mass., June 27, 2012 (GLOBE NEWSWIRE) -- Coronado Biosciences, Inc. (Nasdaq:CNDO), a biopharmaceutical company focused on the development of novel immunotherapy biologic agents for the treatment of autoimmune diseases and cancer, announced today that it closed its previously announced underwritten public offering of 5,750,000 shares of its common stock at a price to the public of $5.00 per share for gross proceeds to Coronado of $28.8 million. The shares include 750,000 shares of common stock sold pursuant to the over-allotment option granted by Coronado to the underwriters, which option was exercised in full. Coronado expects net proceeds of the offering will be approximately $26.5 million, after deducting underwriting commissions and other offering expenses.
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