BOSTON–(BUSINESS WIRE)–Karuna Therapeutics, Inc. (NASDAQ: KRTX), a clinical-stage biopharmaceutical company driven to create and deliver transformative medicines for people living with psychiatric and neurological conditions, today announced the closing of its previously announced upsized underwritten public offering of 4,011,628 shares of common stock, including the exercise in full by the underwriters of their option to purchase an additional 523,255 shares at the public offering price of $215.00 per share. Gross proceeds to Karuna in the offering, before underwriting discounts and estimated expenses of the offering, were approximately $862.5 million.
Goldman Sachs & Co. LLC and J.P. Morgan acted as joint book-running managers for the offering. Jefferies also acted as a book-running manager. Stifel, Guggenheim Securities and RBC Capital Markets acted as lead managers, and JMP Securities, a Citizens Company, and Wedbush PacGrow acted as co-managers for the offering.
About Karuna Therapeutics
Karuna Therapeutics is a clinical-stage biopharmaceutical company driven to create and deliver transformative medicines for people living with psychiatric and neurological conditions.
