Conatus Pharmaceuticals Inc. (NADAQ:CNAT), a biotechnology company focused on the development and commercialization of novel medicines to treat liver disease, announced today that it has priced an underwritten public offering of 3,500,000 shares of its common stock at a price to the public of $5.75 per share. Gross proceeds, before underwriting discounts and commissions and estimated offering costs, are expected to be approximately $20.1 million.

Conatus intends to use the net proceeds from the offering to fund clinical development of emricasan, including preparation for registration trials, and for working capital and other general corporate purposes. Conatus has granted the underwriters a 30-day option to purchase up to 525,000 additional shares of its common stock. The offering is expected to close on or about April 8, 2015, subject to satisfaction of customary closing conditions.

Stifel and Roth Capital Partners are acting as book-running managers for the offering.

The securities described above are being offered by Conatus pursuant to a registration statement previously filed and declared effective by the Securities and Exchange Commission (SEC). This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The offering may be made only by means of a prospectus supplement and the accompanying prospectus, copies of which may be obtained, when available, from Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, California 94104, by telephone at (415) 364-2720 or by email at [email protected], or by contacting Roth Capital Partners, LLC, 888 San Clemente Drive, Newport Beach, CA 92660 or by telephone at (800) 678-9147. Electronic copies of the final prospectus supplement and accompanying prospectus will also be available on the website of the SEC at (Original Source)

Shares of Conatus closed yesterday at $6.81 . CNAT has a 1-year high of $11.74 and a 1-year low of $5.06. The stock's 50-day moving average is $6.25 and it's 200-day moving average is $6.75.

On the ratings front, Conatus has been the subject of a number of recent research reports. In a report issued on March 27, Piper Jaffray analyst Charles Duncan reiterated a Buy rating on CNAT, with a price target of $9, which implies an upside of 32.2% from current levels. Separately, on March 26, MLV & Co.'s Vernon Bernardino reiterated a Buy rating on the stock and has a price target of $16.

According to, which ranks over 7,500 financial analysts and bloggers to gage the performance of their past recommendations, Charles Duncan and Vernon Bernardino have a total average return of 10.8% and -10.4% respectively. Duncan has a success rate of 53.3% and is ranked #762 out of 3564 analysts, while Bernardino has a success rate of 34.0% and is ranked #3478.

In total, 4 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $6.81 which is 87.2% above where the stock closed yesterday.

Conatus Pharmaceuticals Inc is a biotechnology company focused on the development and commercialization of novel medicines to treat liver disease.