NEW YORK, Nov. 18, 2016 (GLOBE NEWSWIRE) -- Motif Bio plc (Motif)(NASDAQ:MTFB), a clinical stage biopharmaceutical company specializing in developing novel antibiotics, today announced the pricing of its initial public offering in the United States of approximately 2.44 million American Depositary Shares (ADSs) with 50% warrant coverage. Each ADS, representing 20 ordinary shares of Motif, and warrant to purchase 0.5 ADSs are being offered at an offering price to the public of $6.98 per ADS and warrant combination. Motif has granted the underwriters a 30-day option to purchase up to an additional 292,618 ADSs and/or 146,309 warrants to cover over-allotments, if any, in the U.S. offering.

Each full ADS warrant will have a per ADS exercise price of $8.03. The ADS warrants are exercisable immediately and have a term of five years. The ADSs and warrants are scheduled to begin trading on The NASDAQ Capital Market on November 18, 2016 under the symbols "MTFB" and "MTFBW," respectively.

H.C. Wainwright & Co. is acting as the sole book-running manager for the U.S. offering.

About Motif Bio 

Motif Bio is a clinical-stage biopharmaceutical company, engaged in the research and development of novel antibiotics designed to be effective against serious and life-threatening infections in hospitalized patients caused by multi-drug resistant bacteria. Our lead product candidate, iclaprim, is being developed for the treatment of acute bacterial skin and skin structure infections (ABSSSI) and hospital acquired bacterial pneumonia (HABP), including ventilator associated bacterial pneumonia (VABP), which is often caused by MRSA (methicillin resistant Staphylococcus aureus). We are currently enrolling and dosing patients in two global Phase 3 clinical trials (REVIVE-1 and REVIVE-2) with an intravenous formulation of iclaprim, for the treatment of ABSSSI. Data readout for REVIVE-1 is expected in the second quarter of 2017 and REVIVE-2 is on track for data readout in the second half of 2017.