On June 10, 2020, Aileron Therapeutics, a clinical-stage biopharmaceutical company, announced the closing of its underwritten public offering of its common stock, including the exercise by the underwriter of their option to purchase an additional 1,071,149 shares at the public offering price of $1.10 per share. The exercise of the option to purchase additional shares brought the total number of shares of common stock sold by Aileron to 10,162,059 shares and increased the amount of gross proceeds to $11.2 million, before deducting underwriting discounts and commissions and offering expenses payable by Aileron. The company expects to use the net proceeds from the offering, together with its existing cash, cash equivalents and short-term investments, to fund clinical development of ALRN-6924 as a chemoprotective agent and for working capital as well as other general corporate purposes.

The Wilson Sonsini Goodrich & Rosati team that advised Aileron Therapeutics on IP matters related to the transaction includes Craig Kenesky, Feng Tian, and Lou Lieto.

For more information, please see Aileron Therapeutics’ press release.