Sienna Biopharmaceuticals announced the closing of its initial public offering of 4,983,333 shares of common stock at a public offering price of $15 per share.
The offering included the exercise in full by the underwriters of the option to purchase up to an additional 650,000 shares of common stock, according to a news release. There were approximately $74.7 million in aggregate gross proceeds to the company before underwriting discounts, commissions and estimated offering expenses, Sienna reported.
The clinical-stage biopharmaceutical company is focused on first-in-class topical products in medical dermatology and aesthetics.
On July 26, the Securities and Exchange Commission declared that a registration statement relating the shares sold in the offering was effective, according to the release.