Barrier Thera to raise $31.9M in offering

New Jersey, USA-based Barrier Therapeutics, which is developing and commercializing products in the field of dermatology, has priced a registered direct offering of its common stock for around $31.9 million in gross proceeds.

Under the terms of the financing, Barrier will sell about 5.5 million shares at $5.75 each to a select group of institutional investors. All of the common stock offered by Barrier are pursuant to an effective registration statement filed with the Securities and Exchange Commission on May 17, 2006. The closing is scheduled to occur on or about September 26, and is subject to customary conditions.