PhaseBio Announces Closing of Public Offering of Common Stock and Full Exercise of Underwriters’ Option to Purchase Additional Shares

MALVERN, Pa. & SAN DIEGO--(BUSINESS WIRE)--PhaseBio Pharmaceuticals, Inc. (Nasdaq: PHAS), a clinical-stage biopharmaceutical company focused on the development and commercialization of novel therapies for cardiopulmonary diseases, today announced the closing of an underwritten public offering of 18,400,000 shares of its common stock at a public offering price of $3.50 per share, including the full exercise of the underwriters’ option to purchase an additional 2,400,000 shares. The gross proceeds to PhaseBio from the offering, before deducting the underwriting discounts and commissions and other estimated offering expenses, are expected to be approximately $64.4 million.