BRIEF—Five Prime prices upsized public offering

US biotech Five Prime Therapeutics has announced the pricing of an underwritten public offering of 7,200,000 shares of its common stock at a price to the public of $21.00 per share.

The size of the offering was upsized from 5,000,000 shares to 7,200,000 shares.

Five Prime estimates that the net proceeds from the sale of the shares will be approximately $141.9 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by Five Prime.

In addition, Five Prime has granted the underwriters in the offering a 30-day option to purchase up to 1,080,000 additional shares of common stock at the public offering price.

Five Prime plans to use the net proceeds of the offering, together with other available funds, to fund ongoing clinical development of bemarituzumab and FPT155, to advance FPA157 through pre-clinical and into clinical development, to advance its late-stage research programs and for working capital and general corporate purposes.