April 2, 2010 (FinancialWire) — Somaxon Pharmaceuticals, Inc. (NASDAQ: SOMX) has closed a public offering of 6.9 million shares of its common stock, including 900,000 shares sold pursuant to the full exercise of an overallotment option previously granted to the underwriters, at a price to the public of $8.25 per share.

The company said it expects to see net proceeds from the sale of the shares, after underwriting discounts and commissions and estimated offering expenses, of around $52.8 million.

California-based Somaxon Pharmaceuticals is a specialty pharmaceutical company focused on the in-licensing, development and commercialization of proprietary branded pharmaceutical products and late-stage product candidates for the treatment of diseases and disorders in the central nervous system therapeutic area.

(For more biomedical & phamaceutical articles go to http://www.financialwire.net/?s=biomedphrm)

(For more offerings articles go to http://www.financialwire.net/?s=offrngnrf)

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” (http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) website (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

[biomedphrm] [offrngnrf]

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.