Hyperion Therapeutics raised $57.5 million in its initial public offering at $10.00 per share. Needham acted as a co-manager on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 750,000 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares will be used by Hyperion Therapeutics fund clinical development, regulatory approval, post-marketing studies and, if approved, the commercial launch of Ravicti; to fund over eight quarters the repayment of up to $22.0 million in a potential loan commitment to Ucyclyd, if Hyperion purchases Ucyclyd’s worldwide rights to BUPHENYL and AMMONUL and Ucyclyd does not exercise its option to retain AMMONUL; to fund milestone, royalty and license
payments to Ucyclyd and Brusilow Enterprises, LLC, as applicable; and for general corporate purposes.
Hyperion Therapeutics (NASDAQ: HPTX) is a biopharmaceutical company focused on the development and commercialization of novel therapeutics to treat disorders in the areas of orphan diseases and hepatology. Hyperion is developing Ravicti(TM) (glycerol phenylbutyrate) for two orphan indications: urea cycle disorders (UCD) and hepatic encephalopathy.