CoLucid Pharmaceuticals Announces Pricing of Initial Public Offering

CoLucid Pharmaceuticals, Inc. ("CoLucid") (Nasdaq:CLCD), a Phase 3 clinical-stage biopharmaceutical company that is developing its lead product candidate, lasmiditan, for the acute treatment of migraine headaches, announced today the pricing of its initial public offering of 5,500,000 shares of common stock at a public offering price of $10.00 per share.

In addition, CoLucid has granted the underwriters a 30-day option to purchase up to an additional 825,000 shares of common stock at the public offering price to cover over-allotments, if any. All shares of the common stock in this offering are being sold by CoLucid. CoLucid's shares are expected to begin trading on The NASDAQ Global Market on May 6, 2015 under the ticker symbol "CLCD." This offering is expected to close on May 11, 2015, subject to customary closing conditions.

Piper Jaffray & Co. and Stifel are acting as joint book-running managers for the offering. William Blair & Company, L.L.C. is acting as lead manager and Ladenburg Thalmann is acting as co-manager for the offering.

A registration statement relating to the securities being sold in this offering was declared effective by the U.S. Securities and Exchange Commission on May 5, 2015.  This offering is being made only by means of a prospectus. When available, copies of the final prospectus relating to this offering may be obtained by contacting: Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, by telephone at [phone], or by email at [e-mail], or Stifel, Nicolaus & Company, Incorporated, One Montgomery Street, Suite 3700, San Francisco, CA 94104, Attention: Syndicate, by telephone at [phone] or by email at [e-mail].

This press release shall not constitute an offer to sell or the 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 the registration or qualification under the securities laws of any such state or jurisdiction.

CONTACT: Thomas Mathers
         Chief Executive Officer
         CoLucid Pharmaceuticals, Inc.
         [phone]
         
         Hans Vitzthum
         Managing Director
         LifeSci Advisors, LLC.
         [phone]