SAN DIEGO, May 16, 2017 (GLOBE NEWSWIRE) -- Conatus Pharmaceuticals Inc. (Nasdaq:CNAT), a biotechnology company focused on the development and commercialization of novel medicines to treat liver disease, announced today the completion of its previously announced underwritten public offering of 5,980,000 shares of its common stock, including 780,000 shares sold pursuant to the full exercise of the underwriters' option to purchase additional shares. All shares in the offering were sold by Conatus at a price to the public of $5.50 per share. Net proceeds from the offering, after deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $30.6 million. Conatus intends to use approximately $19.4 million of the net proceeds from the offering to fund pipeline expansion and for working capital and other general corporate purposes. Conatus used approximately $11.2 million of the net proceeds to repurchase and retire 2,166,836 shares of common stock held by funds affiliated with Advent Private Equity at a price equal to the net proceeds per share that Conatus received from this offering, before expenses. Stifel and SunTrust Robinson Humphrey acted as book-running managers for the offering. The securities described above were offered by Conatus pursuant to a registration statement previously filed and declared effective by the Securities and Exchange Commission (SEC). A final prospectus supplement and accompanying prospectus relating to this offering have been filed with the SEC. 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 jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained from Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, California 94104, by telephone at (415) 364-2720 or by email at firstname.lastname@example.org, or by contacting SunTrust Robinson Humphrey by mail at 3333 Peachtree Road NE, Atlanta, GA 30326, Attention: Prospectus Department, by telephone at (404) 926-5744 or by email at STRH.Prospectus@suntrust.com. Electronic copies of the final prospectus supplement and accompanying prospectus are also available on the website of the SEC at www.sec.gov.