San Diego Business Journal

Receptos Seeking $102.1M Through Secondary Stock Offering

By Meghana Keshavan Sunday, January 12, 2014

San Diego-based Receptos Inc. has filed a $102.1 million secondary public offering – right on the heels of its initial public offering last May, in which it raised $73 million.

Receptos (Nasdaq: RCPT) will release about 3.3 million shares of its common stock, priced at $30.75 per share.

The biopharmaceutical company said it will use the funds to further develop treatments for multiple sclerosis and ulcerative colitis.

News of the secondary public offering led Receptos’ stock to climb 13 percent, closing at $35.50 Jan. 9. The company’s IPO opened at $14 per share. Receptos’ market capitalization rose to $651 million.