(MENAFN- Baystreet.ca) OptiNose Inc (NASDAQ: OPTN) reported an offering of common stock.
The Yardley, Pa.-based Optinose, a pharmaceutical company focused on patients treated by ear, nose and throat (ENT) and allergy specialists, today announced that it and certain selling stockholders intend to offer and sell shares of its common stock in an underwritten public offering.
In addition, OptiNose is expected to grant the underwriters an option for a period of 30 days to purchase up to an additional 15% of the total number of shares to be offered at the public offering price, less the underwriting discount. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed.
OptiNose intends to use the net proceeds of the offering for working capital and general corporate purposes. OptiNose will not receive any proceeds from the sale of shares by the selling stockholders.
Jefferies, Cowen and Piper Jaffray are acting as the joint lead book-running managers for the offering. BMO Capital Markets is acting as book-running manager for the offering.
OptiNose is a specialty pharmaceutical company focused on serving the needs of patients cared for by ear, nose and throat (ENT) and allergy specialists. Optinose has offices in the U.S., the U.K. and Norway.
Last week, the company announced third-quarter GAAP Earnings per Share of $0.69, in-line with expectations, on revenue of $12.83 million , or 575.3% better than the prior-year quarter.
OptiNose shares plummeted $1.66, or 14.5%, to $9.75.
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