Actinium Pharmaceuticals Inc., of New York, plans to sell about 35.7 million units at a subscription price of 70 cents per unit to its stockholders and certain participating warrant holders. Each unit consists of one share, 0.25 series A warrants and 0.75 series B warrants, which have terms of 12 months and 30 months, respectively. The sale, which will be allocated on a pro rata basis if necessary, will raise up to $25 million, although the company has the right to increase the amount. Actinium plans to use the funds for development of its lead product candidate, Iomab-B, and potentially support development of its CD33 program and AWE Technology platform as well as other research and development and general working capital needs. Shares of Actinium (NYSE:ATNM) fell 8.5 cents, or 11.9 percent, to close at 63 cents on Friday.
Athersys Inc., of Cleveland, established a new follow-on equity facility with Aspire Capital Fund LLC, giving Athersys the right to sell up to $100 million of its common stock to Aspire under certain conditions over a three-year period. In conjunction with the facility, Aspire purchased $1 million of stock at $2 per share. Shares of Athersys (NASDAQ:ATHX) fell 3 cents to close at $1.73 on Friday.
Cymabay Therapeutics Inc., of Newark, Calif., closed its previously announced public offering of stock, selling 13.34 million shares, including the underwriters' option to purchase 1.74 million shares, for $10.80 per share. Cymabay plans to use the proceeds to fund development of seladelpar and for working capital and general corporate purposes. Leerink Partners LLC and Evercore ISI acted as the joint book-running managers for the offering, while Oppenheimer & Co. Inc. acted as lead manager and H.C. Wainwright & Co. LLC and Roth Capital Partners acted as co-managers.
Infant Bacterial Therapeutics AB, of Stockholm, raised SEK440 million (US$55.7 million) through a fully subscribed offering of 155,538 class A shares and 4.5 million class B shares.
Opgen Inc., of Gaithersburg, Md., priced its offering of about 3.7 million, consisting of one share and a warrant to purchase one-half of a share, at $3.25 per unit, grossing the company approximately $12 million. Opgen plans to use the proceeds for research and development, including funding the development and manufacturing of its Acuitas AMR Gene Panels, acquisitions of products and technologies, capital expenditures, working capital and other general corporate purposes. Shares of Opgen (NASDAQ:OPGN) fell 70 cents, or 19.2 percent, to close at $2.95 on Friday.
Sapvax LLC, of Cleveland, closed a round of equity financing led by Biomotiv LLC, the for-profit drug development accelerator associated with the Harrington Project for Discovery & Development, with participation from Auckland Uniservices Ltd., the University of Auckland's technology transfer office, and Innovator Capital Ltd., a London-based specialty investment bank. The company has also received support from the Harrington Discovery Institute. Sapvax, which is working on cancer vaccines based on self-adjuvanting peptide technology, also said it in-licensed an additional series of adjuvant constructs from Auckland Uniservices, and demonstrated that vaccines in its NY-ESO-1-targeted program can activate human T cells in an in vitro priming assay. Sapvax will use the new funds to support studies in animal tumor models and clinical candidate selection.
Seattle Genetics Inc., of Bothell, Wash., said the underwriters exercised their option to purchase an additional 1.7 million shares in its previously announced offering, bringing the total shares offered to about 13.3 million at a price of $52 per share. The offering, which is expected to close on or about Feb. 5, will gross the company approximately $690 million, which it plans to use to fund a portion of the cost to acquire Cascadian Therapeutics Inc., of Seattle, or for other purposes, including the development and commercialization of Adcetris (brentuximab vedotin), if it doesn't consummate the acquisition. Barclays Capital Inc. and J.P. Morgan Securities LLC are acting as joint book-running managers for the offering. (See BioWorld, Feb. 1, 2018.)
Viking Therapeutics Inc., of San Diego, priced its offering of 11 million shares at $5 per share, grossing the company $55 million, which it plans to use for the development of its VK-5211, VK-2809 and VK-0214 programs and for general research and development, working capital and general corporate purposes. The underwriters have an option to purchase an additional 1.65 million shares. The offering is expected to close on or about Feb. 6. Shares of Viking (NASDAQ:VKTX) increased 76 cents, or 14.3 percent, to close at $6.07 on Friday.