BURLINGTON, Mass., Dec. 8, 2014 (GLOBE NEWSWIRE) -- Flexion Therapeutics, Inc. (Nasdaq:FLXN) today announced that it is offering to sell 3,500,000 shares of common stock in an underwritten public offering. Flexion also expects to grant the underwriters a 30-day option to purchase up to an additional 15 percent of the shares of common stock in the public offering.
BMO Capital Markets Corp. and RBC Capital Markets, LLC are acting as joint book-running managers. Needham & Company, LLC is acting as lead manager and Janney Montgomery Scott and Summer Street Research Partners are acting as co-managers.
A registration statement relating to the shares to be sold in the offering has been filed with the Securities and Exchange Commission, but has not yet become effective. The shares may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective. The offering is being made only by means of a prospectus. A copy of the preliminary prospectus relating to the offering may be obtained from BMO Capital Markets Corp., 3 Times Square, 27th Floor, New York, NY 10036, Attention: Equity Syndicate Department, Telephone: (800) 414-3627, Email: bmoprospectus@bmo.com; or from RBC Capital Markets, LLC, 200 Vesey Street, 8th Floor, New York, NY 10281; Attention: Equity Syndicate Department, Telephone: (877) 822-4089, Fax: (212) 428-6260.
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 jurisdiction in which such offer, solicitation or sale is unlawful.
About Flexion Therapeutics
Flexion is a clinical-stage specialty pharmaceutical company focused on the development and commercialization of novel pain therapies. The company is currently advancing a portfolio of injectable drug candidates that have the potential to provide better and more persistent analgesia compared with existing therapy. The company's lead program, FX006, is an intra-articular sustained release steroid in development for patients with moderate to severe OA pain. The company also has two additional product candidates, FX007, a locally administered TrkA receptor antagonist for post-operative pain, and FX005, an intra-articular, sustained-release p38 MAP kinase inhibitor for end-stage OA patients.
Forward-Looking Statements
Statements in this press release regarding matters that are not historical facts, including expectations regarding the completion, timing and size of Flexion's proposed public offering, are forward-looking statements. These forward-looking statements are based on management's expectations and assumptions as of the date of this press release and are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include, without limitation, risks and uncertainties associated with market conditions and the satisfaction of customary closing conditions related to the proposed offering, as well as other risks and uncertainties described in Flexion's filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in Flexion's Annual Report on Form 10-K for the year ended December 31, 2013 and subsequent filings with the SEC. You are encouraged to read Flexion's filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this press release, and Flexion undertakes no obligation to update or revise any of the statements.
CONTACT: Media Contact
Jamie Lacey-Moreira
PressComm PR, LLC
T: 410-299-3310
jamielacey@presscommpr.com
Corporate Contact
Lisa Davidson, MBA
Vice President, Finance and Administration
Flexion Therapeutics, Inc.
T: 781-305-7765
ldavidson@flexiontherapeutics.com
