Receptos Inc. Announces Proposed Public Offering Of Common Stock

(RTTNews) - Receptos, Inc. (RCPT) announced its intention to offer shares of its common stock in an underwritten public offering. All shares of common stock to be sold in the offering will be offered by Receptos.

The company said the offering is subject to market conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Receptos said it intends to use the net proceeds received from this offering to fund continued development of its product candidate RPC1063 in ongoing clinical trials for relapsing multiple sclerosis and ulcerative colitis, development of its in-licensed product candidate RPC4046 in a clinical trial for eosinophilic esophagitis, other ongoing preclinical and research programs and for general corporate purposes including working capital.