Alder Biopharmaceuticals (ALDR) Stock Rises After Pricing Secondary Offering

NEW YORK (TheStreet) -- Alder Biopharmaceuticals (ALDR) shares are up 0.23% to $45.80 in afternoon trading on Friday after the biotech company announced the pricing of an underwritten public offering of 4,494,382 shares at $44.50 per share.

The company will also give underwriters up to 30-days to purchase an additional 674,157 shares of common stock.

Credit Suisse, Leerink Partners and Wells Fargo Securities  (WFC) are acting as joing book-runners for the offering.

The offering is expected to close June 30.

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