Benzinga | Jul 27, 2020 04:55PM EDT

Allena Pharmaceuticals Announces $5M Bought Deal Offering

NEWTON, Mass., July 27, 2020 (GLOBE NEWSWIRE) -- Allena Pharmaceuticals, Inc. (NASDAQ:ALNA), a late-stage, biopharmaceutical company dedicated to developing and commercializing first-in-class, oral enzyme therapeutics to treat patients with rare and severe metabolic and kidney disorders, announced today that it has entered into an underwriting agreement with H.C. Wainwright & Co., LLC under which the underwriter has agreed to purchase on a firm commitment basis 3,846,154 shares of common stock of the Company, at a price to the public of $1.30 per share, less underwriting discounts and commissions. The closing of the offering is expected to occur on or about July 30, 2020, subject to satisfaction of customary closing conditions.