GAITHERSBURG, Md., (GLOBE NEWSWIRE) -- Viela Bio, Inc. (Nasdaq:VIE), a clinical-stage biotechnology company pioneering treatments for autoimmune and severe inflammatory diseases, today announced the pricing of an underwritten public offering of 3,600,000 shares of its common stock at a price to the public of $47.00 per share. The gross proceeds to Viela Bio from the offering, before deducting the underwriting discounts and commissions and offering expenses, are expected to be approximately $169 million. In addition, certain selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 540,000 shares of common stock from the selling stockholders at the public offering price less underwriting discounts and commissions.
Morgan Stanley, Goldman Sachs & Co. LLC, Cowen and Guggenheim Securities are acting as the joint book-running managers for the offering. The offering is expected to close on or about June 1, 2020, subject to the satisfaction of customary closing conditions.
Viela Bio intends to use the net proceeds from the offering to support activities for the commercialization of inebilizumab for the treatment of NMOSD, if approved; to advance the ongoing clinical development of inebilizumab in other indications and of VIB4920, VIB7734 and other pipeline candidates; and for working capital and other general corporate purposes. Viela Bio will not receive any proceeds from any sale of shares by the selling stockholders.
About Viela Bio
Viela Bio, headquartered in Gaithersburg, Maryland, is a clinical-stage biotechnology company pioneering treatments for autoimmune and severe inflammatory diseases.
