Biomed Company Alcobra Raises $40M In Nasdaq Offering

November 16, 2015 | Israeli ADHD drug development company Alcobra has raised $40 million in its offering on the Nasdaq. The company announced on Friday that it has priced its public offering of 6,175,000 ordinary shares at $6.50 per share – $1.50 lower than its IPO price of $8 per share in 2013, and almost $18 lower than its peak price at the end of 2013. Alcobra plans to use the net proceeds from the latest offering to fund its future clinical development program for its primary drug candidate, MG01CI, currently in Phase II of clinical trials. Led by CEO Yaron Daniely, the biomedical company is based in Tel Aviv, where is it is developing other treatments for cognitive disorders, including Attention Deficit Hyperactivity Disorder (ADHD) and Fragile X Syndrome.