Acadia Pharmaceuticals Inc., of San Diego, said it priced an underwritten public offering of 6.25 million shares of its common stock at $40 each for gross proceeds of approximately $250 million. The underwriters have been granted a 30-day option to purchase up to an aggregate of 937,500 additional shares of common stock.

IGM Biosciences Inc., of Mountain View, Calif., priced its IPO of 10.93 million shares of common stock at $16 per share for gross proceeds of approximately $175 million. In addition, the underwriters have a 30-day option to purchase up to 1.64 million additional shares of common stock at the IPO price. The shares made a strong debut on Nasdaq under the symbol IGMS, closing Wednesday at $24.30, up 52%. (See BioWorld, Aug. 21, 2019.)

Onconova Therapeutics Inc., of Newtown, Pa., said it decided to terminate the public offering of common stock, following an assessment that current equity market conditions are not conducive for an offering on terms that would be in the best interest of shareholders.

PTC Therapeutics Inc., of South Plainfield, N.J., said it priced its private offering of $250 million aggregate principal amount of its convertible senior notes due 2026 and granted to the initial purchaser a 30-day option to purchase up to an additional $37.5 million of the notes. The company also priced a public offering of about 2.5 million shares at $40.40 apiece for gross proceeds of about $100 million. PTC also granted underwriter Credit Suisse an option to purchase up to an additional 371,287 shares. Shares of PTC (NASDAQ:PTCT) closed Wednesday at $38.43, down $4.89, or 11.3%.

Satsuma Pharmaceuticals Inc., of South San Francisco, said it closed its IPO of 5.5 million shares of common stock at $15 each for gross proceeds of approximately $82.5 million. The underwriters have an option to purchase up to an additional 825,000 shares of common stock. Satsuma's shares are listed on Nasdaq under the ticker symbol STSA.

Scpharmaceuticals Inc., of Burlington, Mass., said it established a new restructured four-year $20 million term loan with Solar Capital Ltd. and Silicon Valley Bank, with all the funds drawn at closing. The proceeds from the loan will be used to pay off an existing $10 million term loan along with related fees and expenses, and to provide additional working capital for general corporate purposes. The restated and amended agreement extends the term of the credit facility until Sept. 17, 2023, and permits the company to make interest-only payments until Oct. 1, 2021.

Springworks Therapeutics Inc., of Stamford, Conn., said it closed its IPO of 10.35 million shares of common stock that includes the exercise in full by the underwriters of their option to purchase up to 1.35 million additional shares at $18 each. The gross proceeds were $186.3 million. The company's shares are now listed on Nasdaq under the ticker symbol SWTX.

Translate Bio Inc., of Lexington, Mass., said it priced its underwritten public offering of 9 million shares of its common stock at $10 each, for aggregate gross proceeds of $90 million. In addition, the underwriters have been granted a 30-day option to purchase up to 1.35 million additional shares of common stock at the public offering price. Shares of Translate Bio (NASDAQ:TBIO) closed Wednesday at $10.01, down 98 cents.

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