Affimed NV, of Heidelberg, Germany, made public the closing of its previously disclosed public offering of 12 million common shares, at the public offering price of $2.50 each, and the exercise in full by the underwriters of their option to purchase an additional 1.8 million shares. Gross proceeds were $34.5 million.

Azurrx Biopharma Inc., of New York, entered a $15 million common stock purchase and registration rights agreement with Lincoln Park Capital Fund LLC, a Chicago-based institutional investor and a longstanding investor. Azurrx will have the right to sell up to $15 million of its stock to Lincoln Park over a 30-month period, upon satisfaction of the conditions in the purchase agreement, including after a registration statement registering the resale of shares to be sold to Lincoln Park under the purchase agreement is declared effective by the SEC.

Biocryst Pharmaceuticals Inc., of Research Triangle Park, N.C., priced an underwritten public offering of about 37.9 million shares of its common stock at $1.45 each. Gross proceeds are expected to be $55 million. Biocryst has granted the underwriters a 30-day option to purchase up to an additional about 5.6 million shares. J.P. Morgan is acting as sole book-running manager for the offering. JMP Securities and H.C. Wainwright & Co. are serving as lead managers. Shares of Biocryst (NASDAQ:BCRX) closed Thursday at $1.59, down 2 cents.

CNS Pharmaceuticals Inc., of Houston, raised gross proceeds of $8.5 million in its now-closed IPO. The company sold about 2.1 million shares priced at $4 each, listing on Nasdaq under the symbol CNSP. The Benchmark Co. LLC acted as sole book-running manager for the offering. CNS granted Benchmark a 45-day option to purchase up to an additional 318,750 shares of common stock. Company shares rose 16 cents on Thursday to close at $4.24.

Eton Pharmaceuticals Inc., of Deer Park, Ill., secured a $10 million debt facility with SWK Holdings Corp. to support its pursuit of what CEO Sean Brynjelsen called "value-enhancing business development transactions," while the company invests in the commercial launch of its hypotension drug, Biorphen (phenylephrine hydrochloride), and the planned launch of ET-105 (lamotrigine) as an adjunct therapy for partial seizures in early 2020. Company shares (NASDAQ:ETON) rose 32 cents on Thursday to close at $6.07.

Halozyme Therapeutics Inc., of San Diego, said it intends to offer, subject to market conditions and other factors, $400 million in convertible senior notes due 2024 to institutional buyers. It also expects to grant a 30-day option to the initial purchasers to purchase up to an additional $60 million worth of convertible notes. It plans to use up to $200 million of the net proceeds from the offering to repurchase shares of its common stock and, potentially, to retire existing debt obligations under its loan agreement with Oxford Finance and Silicon Valley Bank. Shares of Halozyme (NASDAQ:HALO) rose 82 cents on Thursday to close at $18.49.

Kadmon Holdings Inc., a New York-based company developing medicines for inflammatory and fibrotic diseases as well as immuno-oncology, priced an offering of 26 million shares of its common stock at a public offering price of $3.40 per share to support clinical development of its lead candidates, discovery, research and preclinical studies. Jefferies LLC and Cantor Fitzgerald & Co. are acting as joint book-running managers for the offering. Kadmon granted the underwriters a 30-day option to purchase up to an additional 3.9 million shares. Company shares (NYSE:KDMN) rose 36 cents on Thursday to a close of $3.92.

Lipocine Inc., of Salt Lake City, which is developing drugs for metabolic and endocrine disorders, priced its public offering of 10.45 million class A units, each consisting of shares of common stock and warrants to purchase common stock, and 1.55 million class B units, each consisting of prefunded warrants and warrants to purchase its common stock, at 50 cents per class A unit and 49.9 cents per class B unit. Gross proceeds to the company are expected to be about $6 million and will be used for working capital and general corporate purposes. Roth Capital Partners is acting as sole agent.

Lunac Therapeutics Ltd., of Leeds, U.K., was spun out of the University of Leeds with £2.65 million (US$3.4 million) funding in the first close of a series A round. The investment is being led by Epidarex Capital and the University of Leeds. Lunac, which is focused on the identification and development of advanced anticoagulants with minimal bleeding risk, is targeting activated factor XII.

Phio Pharmaceuticals Corp., of Marlborough, Mass., launched a proposed public offering. The number of shares and share price have not yet been disclosed. H.C. Wainwright & Co. is acting as exclusive placement agent. Phio is developing next-generation immuno-oncology therapeutics based on its Instasyl self-delivering RNAi therapeutic platform. Shares of Phio (NASDAQ:PHIO) closed Thursday at 24 cents, down 3 cents.

Replimune Group Inc., of Boston, priced its public offering of about 3.7 million shares of common stock at $13.61 per share. In addition, and in lieu of common stock, Replimune announced pricing of its public offering of prefunded warrants to purchase 2.2 million shares of common stock at $13.6099 per prefunded warrant, which equals the public offering price per share of the common stock less the $0.0001 per share exercise price of each prefunded warrant. Aggregate gross proceeds are expected to be about $80 million. Replimune granted underwriters a 30-day option to purchase up to an additional 881,704 shares. The offering is expected to close on Nov. 18. J.P. Morgan Securities LLC, SVB Leerink LLC and BMO Capital Markets Corp. are acting as book-running managers, while Wedbush Securities Inc. is acting as co-lead manager and Roth Capital Partners LLC is acting as co-manager. Replimune is developing cancer therapeutics using its immulytic platform. The company's shares (NASDAQ:REPL) closed Thursday at $13.64, up 3 cents.

Underdog Pharmaceuticals Inc., of Mountain View, Calif., and SENS Research Foundation (SRF) launched the company and completed a seed round, providing $3.95 million to promote Underdog's development of disease-modifying treatments for atherosclerosis and other age-related diseases. The round is led by Kizoo Technology Capital, part of the Forever Healthy Group, and also includes Tubus LLC and Chambray Worldwide Ltd. Underdog was built from an SRF flagship program designed to explore and repair underlying causes of cardiovascular disease.

X-37 LLC, of South San Francisco, said it closed a $14.5 million series A financing, led by DCVC Bio and joined by Alpha Intelligence Capital and Hemi Ventures. The funding will be used to expand the number of drug development programs at X-37 and to advance identified drug leads through laboratory and preclinical testing, with the goal of beginning human trials by 2022. X-37's development programs encompass therapeutics modulating drug targets to address unmet clinical needs, including ZAP-70 for autoimmune disease, PIM3 and SHP2 for cancer, and factor XIIa for anticoagulation.

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