Strongbridge Biopharma (SBBP) IPO Opens Up 30%

Today's IPO for Strongbridge Biopharma (NASDAQ: SBBP) opened at $13 after pricing 2,500,000 ordinary shares at a price to the public of $10 per share.

Stifel is acting as sole book-running manager of the proposed offering. JMP Securities is acting as lead manager, and Roth Capital Partners and Arctic Securities are acting as co-managers.

Strongbridge Biopharma's strategic focus is to build a biopharmaceutical company focused on the development, in-licensing, acquisition and eventual commercialization of complementary product candidates across multiple franchises that target rare diseases. Strongbridge Biopharma's lead product candidate, COR-003 (levoketoconazole), is a cortisol inhibitor that is currently being studied in the global Phase 3 trial for the treatment of endogenous Cushing's syndrome. COR-003 has received orphan designation from both the European Medicines Agency and the U.S. Food and Drug Administration. Strongbridge Biopharma recently expanded its rare endocrine disease franchise with the completion of transactions for two Phase 2 product candidates: COR-004, a novel second-generation antisense compound, which is in clinical development for the treatment of acromegaly and designed to block the synthesis of growth hormone receptor (GHr), thereby reducing levels of insulin-like growth factor-1 (IGF-1) in the blood; and COR-005, a next-generation somatostatin analog (SSA) with a unique receptor affinity profile, being investigated for the treatment of acromegaly, with potential additional applications in Cushing's disease and neuroendocrine tumors. Strongbridge Biopharma's intent is to independently commercialize its rare endocrine assets in key global markets.

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