News Column

Retrophin Announces Pricing of Public Offering of Common Shares

January 27, 2014

By a News Reporter-Staff News Editor at Clinical Trials Week -- Retrophin, Inc. (NASDAQ:RTRX)(formerly OTCQB:RTRX) announced the pricing of an underwritten public offering of 4,705,882 shares of its common stock, offered at a price of $8.50 per share. The gross proceeds from this offering, before underwriting discounts and commissions and other offering expenses, are expected to be approximately $40,000,000 . The offering is expected to close on or about January 15, 2014 , subject to customary closing conditions. Retrophin also granted the underwriter a 30-day option to purchase 705,882 additional shares of its common stock (see also Retrophin, Inc. ). In connection with this offering, the Company received approval to list its common stock on the NASDAQ Global Market under the ticker symbol "RTRX." All of the shares sold in the offering are being sold by Retrophin , with the proceeds to be used to obtain regulatory approval for the reintroduction of Syntocinon into the US market for aiding milk letdown, to initiate clinical trials of Retrophin's product candidates, including Syntocinon for the treatment of Schizophrenia and Autism Spectrum Disorders, RE-034 for the treatment of Infantile Spasms and Nephrotic Syndrome, RE-024 for the treatment of Pantothenate Kinase Associated Neurodegeneration, and sparsentan for the treatment of Focal Segmental Glomerulosclerosis. Any remaining net proceeds will be used for the further advancement of Retrophin's early stage development programs, for further product development and for general corporate purposes. Jefferies LLC is acting as sole book-running manager for the offering. Roth Capital Partners , Ladenburg Thalmann & Co. Inc. and Summer Street Research Partners are acting as co-managers. A registration statement relating to the shares of Retrophin common stock being offered has been filed with, and declared effective by, the Securities and Exchange Commission (the " SEC "). A prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website at http://www.sec.gov . Copies of the prospectus, when available, may be obtained from Jefferies LLC , Attention: Syndicate Prospectus Department , 520 Madison Avenue , New York, NY , 10022, by telephone at 877-547-6340 or by email at Prospectus_Department@Jefferies.com . Keywords for this news article include: Treatment, Retrophin Inc. , Clinical Trials and Studies. Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2014, NewsRx LLC


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Source: Clinical Trials Week


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