Dermira Files For Secondary Offering

By Chris Lange Published Jul 28, 5:13PM EDT

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Dermira, Inc. (NASDAQ: DERM) filed an S-1 form with the Securities and Exchange Commission (SEC) for a secondary offering. There were no terms given in this initial filing but the proposed maximum price is estimated at $97.75 million but this is really just a placeholder.

The underwriters for this offering are Leerink Partners, Cowen, Needham, and Guggenheim.

Dermira is a specialty biopharmaceutical company focused on bringing innovative and differentiated products to dermatologists and their patients. The management team has extensive experience in product development and commercialization, having served in leadership roles at several leading dermatology companies.

Its strategy is to leverage this experience to in-license, acquire, develop and commercialize products that Dermira believes can be successful in the dermatology marketplace. The company has a portfolio of five product candidates targets significant market opportunities and includes three late-stage product candidates: Cimzia (certolizumab pegol), for the treatment of moderate-to-severe plaque psoriasis; DRM04, for the treatment of hyperhidrosis, or excessive sweating; and DRM01, for the treatment of acne.

The company is currently focused on the development of therapeutic solutions in medical dermatology to treat skin conditions, such as psoriasis, hyperhidrosis and acne. These diseases impact millions of people worldwide and can have significant, multidimensional effects on patients’ quality of life, including their physical, functional and emotional well-being.

Finally, Dermira currently intends to use the net proceeds from this offering for external research and development expenses associated with the development of Cimzia, DRM04 and DRM01 product candidates, with the balance primarily used to fund internal research and development expenses associated with all of the product candidates, working capital, capital expenditures and other general corporate purposes.

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Shares of Dermira closed Tuesday up 0.2% at $24.37 on a 52-week trading range of $12.68 to $25.24. The stock has a consensus analyst price target of $24.75.

About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.