Breaking News

Tweet TWEET

Cempra Prices Public Offering of Common Stock

                Cempra Prices Public Offering of Common Stock

PR Newswire

CHAPEL HILL, N.C., June 14, 2013

CHAPEL HILL, N.C., June 14, 2013 /PRNewswire/ --Cempra, Inc. (Nasdaq: CEMP),
a clinical-stage pharmaceutical company focused on developing differentiated
antibiotics to meet critical medical needs in the treatment of bacterial
infections, today announced that it has priced an underwritten public offering
of7,250,000 shares of its common stock at a price of $7.00 per share for
aggregate gross proceeds of $50.8 million. Net proceeds after underwriting
discounts and commissions and expenses of the offering are expected to be
approximately $47.7million. The company also has granted the underwriters a
30-day option to purchase up to an additional1,087,500 shares to cover
over-allotments, if any, which would result in additional net proceeds of
approximately $7.2million, if exercised in full. The offering is expected to
close on or about June 19, 2013, subject to satisfaction of customary closing
conditions.

Barclays, Stifel and Cowen and Company are acting as joint book-running
managers for the offering. Needham & Company and SunTrust Robinson Humphrey
are acting as co-managers.

The offering is being made pursuant to an effective shelf registration
statement previously filed with the U.S. Securities and Exchange Commission.
This press release does not constitute an offer to sell or a solicitation of
an offer to buy nor shall there be any sale of these securities in any state
or jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any such
state or jurisdiction. Any offer, if at all, will be made only by means of a
prospectus supplement and accompanying prospectus forming a part of the
effective registration statement, copies of which may be obtained, when
available, from Barclays Capital Inc. by calling 1-888-603-5847, or by mail at
Barclays Capital Inc. c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717, or by e-mail at Barclaysprospectus@broadridge.com;
from Stifel, Nicolaus & Company, Incorporated by mail at One Montgomery
Street, 36^th Fl, San Francisco, CA 94104, by telephone at 415-364-2720 or by
e-mail at syndprospectus@stifel.com; and from Cowen and Company, LLC c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717,
Attn: Prospectus Department or by telephone at 631-274-2806.

About Cempra, Inc.
Founded in 2006, Cempra, Inc. is a clinical-stage pharmaceutical company
focused on developing antibiotics to meet critical medical needs in the
treatment of bacterial infectious diseases. Cempra's two lead product
candidates are currently in advanced clinical development. Solithromycin
(CEM-101) is in a Phase 3 clinical trial for community-acquired bacterial
pneumonia (CABP) and is licensed to strategic commercial partner Toyama
Chemical Co., Ltd., a subsidiary of FUJIFILM Holdings Corporation, for certain
exclusive rights in Japan. TAKSTA™ (CEM-102) is Cempra's second product
candidate currently in a Phase 2 clinical trial for prosthetic joint
infections. Both seek to address the need for new treatments targeting
drug-resistant bacterial infections in the hospital and in the community. The
company also intends to use its series of proprietary lead compounds from its
novel macrolide library for uses such as the treatment of chronic inflammatory
diseases, endocrine diseases and gastric motility disorders. Additional
information about Cempra can be found at www.cempra.com.

Please Note: This press release contains forward-looking statements regarding
future events. These statements are just predictions and are subject to risks
and uncertainties that could cause the actual events or results to differ
materially. These risks and uncertainties include, among others: risks
relating to the completion of the public offering, including the satisfaction
of customary closing conditions and the use of anticipated proceeds; the
results, timing, costs and regulatory review of our studies and clinical
trials; our need to obtain additional funding and our ability to obtain future
funding on acceptable terms; our anticipated capital expenditures and our
estimates regarding our capital requirements; the results of studies of our
product candidates conducted by others; the possible impairment of, or
inability to obtain, intellectual property rights and the costs of obtaining
such rights from third parties; our ability to obtain FDA approval of our
product candidates; our dependence on the success of solithromycin and Taksta;
and innovation by our competitors. The reader is referred to the documents
that we file from time to time with the Securities and Exchange Commission.

Investor Contacts:
Robert E. Flamm, Ph.D.
Russo Partners, LLC
(212) 845-4226
Robert.flamm@russopartnersllc.com

Andreas Marathovouniotis
Russo Partners, LLC
(212) 845-4235
Andreas.marathis@russopartnersllc.com

Media Contact:
Karine Kleinhaus, M.D.
Russo Partners, LLC
(646) 942-5632
Karine.kleinhaus@russopartnersllc.com

SOURCE Cempra, Inc.

Website: http://www.cempra.com