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Cempra, Inc. Announces Exercise in Full of Underwriters' Option to Purchase Additional Shares

CHAPEL HILL, N.C., Feb. 27, 2012 /PRNewswire/ -- Cempra, Inc. (Nasdaq: CEMP), a clinical-stage pharmaceutical company focused on developing antibiotics to meet critical medical needs in the treatment of bacterial infectious diseases, today announced that the underwriters of its recent initial public offering have exercised in full their option to purchase an additional 1,260,000 shares of common stock. The closing of the over‑allotment option occurred on February 27, 2012. With the sale of the additional shares at $6.00 per share, the total net proceeds to the company from the offering, after deducting underwriter discounts and commissions and estimated offering expenses, were approximately $54.7 million. The company intends to use the net proceeds from the offering to develop two of its product candidates, CEM-101 and Taksta.

Stifel Nicolaus Weisel, Leerink Swann LLC and Cowen and Company, LLC served as joint book-running managers for the offering. Needham & Company, LLC acted as co-manager.

A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to...


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