Egalet Corporation (Egalet) announced late on Wednesday the pricing of its initial public offering of 4,200,000 shares of its common stock at a public offering price of US$12.00 per share. Egalet Corporation is a specialty pharmaceutical company developing and planning to commercialize proprietary, abuse-deterrent oral products for the treatment of pain and other indications. All of the shares of common stock are being offered by Egalet. In addition, Egalet has granted the underwriters a 30-day option to purchase up to an additional 630,000 shares of common stock at the public offering price to cover over-allotments, if any. Separately, in a concurrent, side-by-side private placement, Egalet's collaborator Shionogi Limited has agreed to purchase 1,250,000 shares of common stock from Egalet at the public offering price. Dechert partner David Rosenthal led the team representing Egalet with assistance from Joshua Schmidt and William Elder, and Joshua Milgrim; and Graham Defries and Rhodri Owen and David Gubbay. The Egalet press release may be found here.

Rosenthal also led a team that represented the underwriters as Idera Pharmaceuticals, Inc. (IDRA) announced on Wednesday that it intends to offer and sell shares of its common stock and pre-funded warrants to purchase shares of its common stock in an underwritten public offering. Piper Jaffray & Co. and Cowen and Company, LLC are acting as joint bookrunning managers for the offering. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. Joining Rosenthal on that matter were Schmidt, Gregory Schernecke and Cody Cowper (all corporate); and Thomas Rayski and Christine Chua (Intellectual Property). The full press release may be found here.