WESTLAKE VILLAGE, Calif., Feb. 20, 2019 (GLOBE NEWSWIRE) -- Sienna Biopharmaceuticals, Inc. (Nasdaq:SNNA), a clinical-stage biopharmaceutical company, today announced the pricing of an underwritten public offering of 8,000,000 shares of its common stock at a price to the public of $2.50 per share. The gross proceeds to Sienna from the offering are expected to be $20.0 million, before underwriting discounts and commissions and estimated offering costs. Sienna has granted the underwriters a 30-day option to purchase up to an additional 1,200,000 shares of its common stock, on the same terms and conditions. All shares of common stock to be sold in the offering will be offered by Sienna. The offering is expected to close on Feb. 22, 2019, subject to satisfaction of customary closing conditions.
Cowen and BMO Capital Markets are acting as joint book-running managers for the offering.
A registration statement on Form S-3 relating to these securities was declared effective by the Securities and Exchange Commission (SEC) on August 14, 2018. The offering is being made only by means of a prospectus supplement and accompanying prospectus, copies of which may be obtained from: Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department, or by telephone at (631) 274-2806; or BMO Capital Markets Corp., 3 Times Square, 25th Floor, New York, NY 10036, Attn: Equity Syndicate Department, by telephone at (800) 414-3627 or by email at bmoprospectus@bmo.com.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or other jurisdiction.
About Sienna Biopharmaceuticals
Sienna Biopharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on bringing unconventional scientific innovations to patients whose lives remain compromised by their disease. We draw upon our knowledge and experience in immunology and inflammation as we build a unique, diversified, multi-asset portfolio of targeted therapies, with an initial focus on one of the most important immune tissues, the skin. Utilizing our novel technology platform, Topical by Design™, we apply a scientific design process to create potent targeted pharmacologically active molecules that are specifically and selectively directed toward a target tissue and a disease pathway, and with minimal to no systemic exposure. At Sienna, we are going where it still matters for patients.
Forward-Looking Statements
Sienna cautions you that statements included in this press release that are not a description of historical facts are forward-looking statements. Words such as “may,” “could,” “will,” “would,” “should,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “intend,” “predict,” “seek,” “contemplate,” “potential,” “continue” or “project” or the negative of these terms or other comparable terminology are intended to identify forward-looking statements. These statements are based on the Company’s current beliefs and expectations and include the Company’s statements regarding the completion, timing and size of its offering. The inclusion of forward-looking statements should not be regarded as a representation by Sienna that any of its plans will be achieved. Actual results may differ from those set forth in this release due to the risks and uncertainties inherent in the Sienna business and other risks described in the Company’s filings with the SEC. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Sienna undertakes no obligation to revise or update this news release to reflect events or circumstances after the date hereof. Further information regarding these and other risks is included under the heading “Risk Factors” in Sienna’s periodic reports filed with the SEC, including Sienna’s Annual Report on Form 10-K filed with the SEC on March 15, 2018 and its other reports which are available from the SEC’s website (www.sec.gov). All forward-looking statements are qualified in their entirety by this cautionary statement. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995.
Contact:
Investors
Sean Andrews
sandrews@siennabio.com
818-629-2244
Media
Caroline Van Hove
cvanhove@siennabio.com
818-575-6250