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Tuesday, Mar 19, 2024
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Conatus Pharmaceuticals to Hold Follow-On Stock Offering

Conatus Pharmaceuticals Inc. plans to hold a follow-on stock offering, the developer of liver disease drugs said Thursday.

The company has priced its offering of 3.5 million shares at $5.75 per share, with gross proceeds expected to reach $20.1 million.

San Diego-based Conatus said it intends to use the net proceeds to fund clinical development of drug candidate emricasan for chronic liver disease, including preparation for registration trials. The money will also be used for working capital and other general corporate purposes.

Stifel and Roth Capital Partners are acting as book-running managers for the offering.

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