NEW YORK, Feb. 7, 2013 (GLOBE NEWSWIRE) -- Ventrus Biosciences, Inc. (Nasdaq:VTUS) today announced that the underwriter of its previously announced public offering of common stock has exercised in full its overallotment option to purchase an additional 870,000 shares of common stock at the public offering price of $2.50 per share, less underwriting discounts and commissions and offering expenses. The closing of the overallotment option exercise occurred today, February 7, 2013, and resulted in gross proceeds to the Company of $2,175,000. Exercise of the over-allotment option increases the gross proceeds to the Company, before any underwriting discounts and commissions and estimated offering expenses, from $20.0 million to approximately $22.2 million.
William Blair & Company, L.L.C. served as the sole book-running manager of the public offering.
The offering is being made pursuant to an effective shelf registration statement previously filed with the U.S. Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offer, if at all, will be made only by means of a prospectus supplement and accompanying prospectus forming a part of the effective registration statement, copies of which may be obtained, when available, from William Blair & Company, L.L.C., Attention: Prospectus Department, 222 West Adams Street, Chicago, IL 60606, by telephone at (800) 621-0687, or by e-mail at firstname.lastname@example.org.About Ventrus Biosciences Ventrus is a development stage pharmaceutical company focused on the development of late-stage prescription drugs for gastrointestinal problems, specifically anal disorders. Our lead product is topical diltiazem (VEN 307) for the treatment of anal fissures, for which the first Phase 3 trial was initiated in November 2010, and reported positive top line results in May 2012. The second Phase 3 trial began enrollment in the fourth quarter of 2012 and is ongoing. Our product candidate portfolio also includes topical phenylephrine (VEN 308) intended to treat fecal incontinence. VEN 307 and VEN 308 are two molecules that were previously approved and marketed for other indications and that have been formulated into our in-licensed proprietary topical treatments for these new gastrointestinal indications.
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