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PIRS > prices @ 18% discount....Pieris Pharma Prices 9,090,909 Shares At $2.75/Share

Pieris Pharmaceuticals, Inc. (NASDAQ: PIRS), a biotechnology company advancing its proprietary Anticalin® biotherapeutic technologies, today announced the pricing of a public offering of 9,090,909 shares of its common stock at a public offering price of $2.75 per share. All shares of common stock are being offered by the company. In addition, Pieris has granted the underwriters a 30-day option to purchase up to an additional 1,363,636 shares of common stock at the same price to cover any over-allotments.

The net proceeds to Pieris from this offering are expected to be approximately $22.7M, after deducting underwriting discounts and commissions and other estimated offering expenses.