New Haven antibiotics maker Melinta Therapeutics said it raised $123.2 million in a recent public offering, cash it will use to advance its growing antibiotics portfolio.
Melinta announced the offering of 22 million shares last week at $5 per share. It closed on Tuesday.
The company, which went to market this year with a drug to fight MRSA (methicillin-resistant Staphylococcus aureus) and other serious skin infections, initially sought to raise $75 million but later upped the size of the offering to $110 million.
In addition, underwriters took full advantage of an option to buy an additional 2.64 million shares, bringing the total to $123.2 million, the company said.
Melinta said it will use the proceeds to expand its salesforce, bolster its supply chain and make milestone payments stemming from the European-launch of Vabomere, which treats complicated urinary tract infections.
The company, which merged with North Carolina’s Cempra Inc. last year, acquired Vabomere and two other drugs  from New Jersey-based The Medicines Co. in January.
Melinta’s stock began trading at $6.30 Wednesday morning.
Natalie Missakian can be reached at news@newhavenbiz.com
