Chelsea Therapeutics International, Ltd.

Company Name:
Chelsea Therapeutics International, Ltd. 
Transaction Type:
Follow-on Offering 
Ticker Symbol:
Deal Amount:
Transaction Date:
Transaction Summary:
Chelsea Therapeutics International, Ltd. raised $23.7 million in its follow-on offering at $4.75 per share. Needham acted as a co-manager on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 650,775 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares from the offering will be used by Chelsea Therapeutics International, Ltd. to fund its droxidopa program, including commercialization and launch activities, to fund the study of CH-4501 for the treatment of rheumatoid arthritis, to fund development of other product candidates and for general corporate purposes. 
Company Description:
Chelsea Therapeutics International, Ltd. (NASDAQ: CHTP) is a biopharmaceutical development company that acquires and develops innovative products for the treatment of a variety of human diseases, including Northera™ (droxidopa), an orally active synthetic precursor of norepinephrine initially being developed for the treatment of neurogenic orthostatic hypotension, and CH-4051, a metabolically inert oral antifolate engineered to have potent anti-inflammatory and anti-tumor activity to treat a range of immunological disorders. 
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