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Alcobra nets $35.7mm in secondary offering to support late-stage studies of MG01CI

Executive Summary

Five months after closing its US IPO, Israeli neurology company Alcobra Ltd. netted $35.7mm in a follow-on public offering of 2.3mm shares (including the overallotment) for $16.50. Alcobra will use approximately $14mm of the proceeds to fund late-stage clinical trials of MG01CI (extended-release metadoxine) for Fragile X syndrome, and $10mm will be allocated to the Phase III program for the same candidate in ADHD.
Deal Industry
  • Biotechnology
  • Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Financing
    • FOPO

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