Egalet declares pricing of underwritten public offering of common stock

Egalet Corporation (Nasdaq: EGLT) ("Egalet"), a fully integrated specialty pharmaceutical company focused on developing, manufacturing and marketing innovative pain treatments, today announced the pricing of an underwritten public offering of 6,666,667 shares of its common stock at a public offering price of $11.25 per share. The gross proceeds to Egalet from this offering are expected to be approximately $75 million, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by Egalet. The Company has granted to the underwriters participating in the offering a 30-day option to purchase up to an additional 1,000,000 shares of common stock at the public offering price. The Company expects that the closing of the offering will take place on July 31, 2015, subject to the satisfaction of customary closing conditions. All of the shares in the offering are to be sold by Egalet.

Egalet anticipates using the net proceeds from the offering to fund research and development, including life cycle management for SPRIX^® (ketorolac tromethamine) Nasal Spray and OXAYDO™ (oxycodone HCI, USP), to expand commercial sales and marketing efforts, and for general corporate purposes, including potential business development opportunities.

Stifel and Guggenheim Securities are acting as joint bookrunning managers for the offering.