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news.Incyte has closed its public offering of 12.07 million shares of its common stock at a price to the public of $9 per share, which includes 1.57 million shares sold upon exercise by the underwriters of their option to purchase additional shares.
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The net proceeds to Incyte from the offering are approximately $101.8 million, after deducting the underwriting discount and estimated offering expenses.
The company intends to use the net proceeds of this offering for general corporate purposes, including research and development activities.
Goldman, Sachs & Co acted as sole book-running manager of this offering and Morgan Stanley & Co acted as joint lead manager. JP Morgan Securities acted as co-manager.