Brief

Nasdaq-Listed Biopharma Company Chiasma Raises $34.5 Million in Public Offering

Chiasma develops octreotide capsules for the treatment of acromegaly, a rare, chronic disease typically caused by a benign tumor of the pituitary gland

Waltham, Massachusetts-based biopharma company Chiasma Inc. has raised $34.5 million in a public offering on Nasdaq, Chiasma announced Wednesday. The company sold 7,263,158 shares of its common stock at a price of $4.75 per share. Chiasma intends to use the funding for research and development as well as for continued phase 3 clinical trials of its octreotide capsules. Chiasma’s product is meant for the treatment of acromegaly, a rare, chronic disease typically caused by a benign tumor of the pituitary gland, that releases excess growth hormone. Founded in 2001, Chiasma has about 20 employees working out of Waltham and central Israeli town Ness Ziona, according to Pitchbook data.

 

Nasdaq. Photo: Nasdaq