Flexion Therapeutics Announces Closing of Initial Public Offering and Full Exercise of Underwriters' Option to Purchase Additional Shares

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| Source: Flexion Therapeutics, Inc.

BURLINGTON, Mass., Feb. 18, 2014 (GLOBE NEWSWIRE) -- Flexion Therapeutics, Inc. (Nasdaq:FLXN) announced today the closing of its initial public offering of 5,750,000 shares of its common stock at an initial public offering price of $13.00 per share, which includes the exercise in full by the underwriters of their option to purchase up to 750,000 additional shares of common stock. Flexion offered all of the shares of common stock. The aggregate net proceeds to Flexion, after underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $67.3 million.

BMO Capital Markets and Wells Fargo Securities, LLC acted as joint book-running managers. Needham & Company and Janney Montgomery Scott acted as co-managers.

The Securities and Exchange Commission declared effective a registration statement relating to these securities on February 11, 2014. The offering was made only by means of a prospectus. A copy of the final prospectus relating to the offering may be obtained from BMO Capital Markets Corp., 3 Times Square, New York, NY 10036, Attention: Equity Syndicate Department, Telephone: (800) 414-3627, Email: bmoprospectus@bmo.com; or from Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 375 Park Avenue, New York, New York, 10152, Telephone: (800) 326-5897, Email: cmclientsupport@wellsfargo.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Flexion Therapeutics

Flexion is a clinical-stage specialty pharmaceutical company focused on the development and commercialization of novel pain therapies. The company is currently advancing a portfolio of drug candidates that together have the potential to treat mild, moderate and severe forms of pain. The company's lead program, FX006, is an intra-articular sustained release steroid in development for patients with moderate to severe osteoarthritis pain. The company is developing two additional product candidates, FX007, a locally administered TrkA receptor antagonist for post-operative pain, and FX005, an intra-articular, sustained-release p38 MAP kinase inhibitor for end-stage osteoarthritis patients.

Media Contact
Jamie Lacey-Moreira
PressComm PR, LLC
T: 410-299-3310


Corporate Contact
Lisa Davidson, MBA
Vice President, Finance and Administration
Flexion Therapeutics,
T: 781-305-7765