BURLINGTON, Mass., Oct. 10, 2017 (GLOBE NEWSWIRE) -- Flexion Therapeutics, Inc. (Nasdaq:FLXN) today announced that it has commenced an underwritten public offering, subject to market and other conditions, to issue and sell 4,000,000 shares of its common stock. Flexion also expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering. Flexion intends to use the net proceeds from the offering to fund manufacturing and commercialization of ZilrettaTM, which was approved by the U.S. Food and Drug Administration on October 6, 2017, to fund product pipeline development, and for working capital and general corporate purposes.
Wells Fargo Securities, BMO Capital Markets and RBC Capital Markets are acting as joint book-running managers.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of Flexion’s securities. No offer, solicitation or sale will be made in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful.
About Flexion Therapeutics
Flexion Therapeutics is a specialty pharmaceutical company focused on the development and commercialization of novel, local therapies for the treatment of patients with musculoskeletal conditions, beginning with OA, a type of degenerative arthritis. The company's core values are focus, ingenuity, tenacity, transparency and fun. Flexion was named one of the Boston Business Journal's 2017 Best Places to Work.