Corbus Pharmaceutical Prices Offering Of Approx. 4.3 Mln Shares At $19 Per Share; Stock Up

(RTTNews) - Corbus Pharmaceuticals Holdings, Inc. (CRBP), Wednesday announced the pricing of offering of 4.325 million shares at $19 per share, to raise approximately $82.2 million.

The proceeds from the offering will be used to fund clinical pipeline projects and for other corporate-related purposes, the company stated.

The offering will close on or about February 2.

Additionally, the company has offered underwriters a 30-day option to purchase up to an additional 648,750 shares.

Jefferies is the sole book-runner for the offering.

Following the announcement, Corbus's stock is gaining 3.64 percent, to $26.08, over the previous close of $25.16 on a volume of 1,774,228 on the Nasdaq.