Cempra Plans $100 Mln Public Offering

(RTTNews) - Cempra Inc (CEMP), a clinical-stage pharmaceutical company, on Monday said it plans to offer its common stock with an aggregate public offering price of about $100 million.

The company also intends to grant to the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock sold in the public offering with an aggregate public offering price of about $15 million.

The company intends to use the net proceeds from the offering to fund its research and development activities, including continued clinical and regulatory development of solithromycin in CABP and gonorrhea and Taksta in bone and joint infections, preparation for commercial readiness for solithromycin in CABP, working capital and general corporate and administrative expenses.