LIVONIA, Mich., Feb. 08, 2018 (GLOBE NEWSWIRE) — Gemphire Therapeutics Inc. (Nasdaq: GEMP), a clinical-stage biopharmaceutical company focused on developing and commercializing therapies for cardiometabolic disorders, including dyslipidemia, Non Alcoholic Fatty Liver Disease (NAFLD) and Nonalcoholic Steatohepatitis (NASH), today announced the pricing of its previously announced underwritten public offering of 3,142,858 shares of its common stock at a public offering price of $7.00 per share. All of the shares of common stock are being offered by Gemphire. In addition, Gemphire has granted the underwriters a 30-day option to purchase up to an additional 471,429 shares of common stock at the public offering price less the underwriting discount. The Company expects to receive gross proceeds of approximately $22.0 million, before deducting the underwriting discount and estimated offering expenses payable by the Company, and assuming no exercise of the underwriters’ option to purchase additional shares. Gemphire anticipates using the net proceeds from the offering for working capital and general corporate purposes.

The offering is expected to close on February 12, 2018, subject to the satisfaction of customary closing conditions.

Piper Jaffray & Co. is acting as the lead book-running manager for the offering. Raymond James & Associates, Inc. is also acting as a book-runner for the offering.  Roth Capital Partners is acting as a lead manager for the offering and Laidlaw & Company (UK) Ltd. and LifeSci Capital LLC are acting as co-managers.

The securities described above are being offered by Gemphire pursuant to a shelf registration statement previously filed with and declared effective by the Securities and Exchange Commission (the “SEC”). A preliminary prospectus supplement and the accompanying prospectus related to the offering have been filed with the SEC and are available on the SEC’s website at www.sec.gov.Copies of the final prospectus supplement and the accompanying prospectus relating to this offering, when available, may be obtained from:Piper Jaffray & Co., Attn: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, by telephone at (800) 747-3924, or by email at [email protected]; or Raymond James & Co., Inc., Attn: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, Florida, by telephone at (800) 248-8863, or by email at [email protected]