IRVING, Texas, July 24, 2018 (GLOBE NEWSWIRE) -- Reata Pharmaceuticals, Inc. (Nasdaq:RETA), a clinical-stage biopharmaceutical company, today announced the pricing of an underwritten public offering of 3,000,000 shares of its Class A common stock at a price to the public of $72.00 per share. The gross proceeds to Reata from the offering, before deducting underwriting discounts and commissions and other offering expenses, are expected to be approximately $216,000,000. In addition, Reata has granted the underwriters a 30-day option to purchase up to an additional 450,000 shares of Reata’s Class A common stock on the same terms and conditions. The offering is expected to close on July 27, 2018, subject to customary closing conditions.

Jefferies LLC, Leerink Partners LLC, Stifel, Nicolaus & Company, Incorporated and Cantor Fitzgerald & Co. are acting as the joint book-running managers for the offering. Ladenburg Thalmann & Co. Inc. is acting as co-manager for the offering.

About Reata Pharmaceuticals, Inc.

Reata is a clinical-stage biopharmaceutical company that develops novel therapeutics for patients with serious or life-threatening diseases by targeting molecular pathways involved in the regulation of cellular metabolism and inflammation. Reata’s two most advanced clinical candidates, bardoxolone methyl and omaveloxolone, target the important transcription factor Nrf2 that promotes the resolution of inflammation by restoring mitochondrial function, reducing oxidative stress, and inhibiting pro-inflammatory signaling.