RNAi therapeutics company Alnylam Pharmaceuticals Inc (Nasdaq:ALNY) said on Monday that it has priced a public offering of 5,000,000 shares of its common stock.

All of the shares in the offering are to be sold by the company at a public offering price of USD77.50 per share for gross proceeds of approximately USD387.5m, before deducting the underwriting discounts and commissions and other estimated offering expenses.

The company has provided the underwriter with a 30-day option to purchase up to an additional 750,000 shares of its common stock solely to cover over-allotments.

Net proceeds may be used by the company for general corporate purposes, the ongoing commercialisation of ONPATTRO (patisiran) in the US and Europe, to advance its late stage clinical pipeline for the potential global launch of additional products, investment in CNS and ocular programmes, clinical trial costs and research and development expenses, commercial and medical affairs capabilities, working capital, capital expenditures as well as general and administrative expenses.

Barclays Capital Inc is acting as sole book-running manager. The offering is expected to close on or around 17 January 2019, subject to the customary closing conditions.