Biodel prices public offer at $15.50

Of the shares being sold in the offering, 3.26 million shares are being issued and sold by Biodel and 550,000 shares are being sold by certain stockholders of the company. Biodel expects to receive net proceeds from the offering of approximately $46.4 million, after deducting underwriting discounts and commissions, and estimated offering expenses. Biodel will not receive any proceeds from the sale of shares by the selling stockholders.

In addition, the selling stockholders have granted the underwriters a 30 day option to purchase up to an additional 571,500 shares of common stock to cover over-allotments, if any.