Ultragenyx Announces Offering Of About 2 Mln Common Shares

(RTTNews) - Ultragenyx Pharmaceutical Inc (RARE), a biopharmaceutical company focused on the development of novel products for rare and ultra-rare diseases, said Monday it has commenced an underwritten public offering of about 2.02 million shares of its common stock.

In addition, the company and the selling stockholders are expected to grant the underwriters of the offering an option for a period of 30 days to purchase up to an aggregate of an additional 302,602 shares of common stock at the public offering price, less the underwriting discount.

Ultragenyx will not receive any proceeds from the sale of any shares sold by the selling stockholders.

Ultragenyx intends to use the proceeds of the offering to continue to advance its clinical and preclinical pipeline, and to increase investment in early-stage research capabilities and general infrastructure. Ultragenyx may also use a portion of the proceeds to in-license, acquire, or invest in additional businesses, technologies, or assets.