Cempra, Inc. raised $58.0 million in its initial public offering at $6.00 per share. Needham acted as a co-manager on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 1,260,000 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 Cempra, Inc. to fund clinical and non-clinical research and development costs for CEM-101 for the treatment of CABP, including our planned Phase 2 IV-to-oral step-down trial, and one Phase 3 oral trial; to
fund clinical and non-clinical research and development costs for Taksta for the treatment of ABSSSI, including the first of our two planned Phase 3 trials; and for working capital and other general corporate purposes, including for additional costs and expenses associated with being a public company.
Founded in 2006, Cempra, Inc. (NASDAQ: CEMP) is a clinical-stage pharmaceutical company focused on developing antibiotics to meet critical medical needs in the treatment of bacterial infectious diseases. Cempra’s two lead product candidates have both completed oral Phase 2 clinical trials and seek to address the need for new treatments targeting drug-resistant bacterial infections in the hospital and in the community. The company also intends to utilize its series of proprietary lead compounds from its novel macrolide library for uses such as the treatment of chronic inflammatory diseases, endocrine diseases and gastric motility disorders.