Arrowhead Pharmaceuticals Inc., of Pasadena, Calif., said it plans to offer and sell 4 million shares of its common stock in an underwritten offering and grant the underwriters a 30-day option to purchase up to an additional 600,000 shares of its common stock. The company intends to use the net proceeds for general corporate purposes, including working capital, capital expenditures, research and development expenditures and clinical trial expenditures. The company’s shares (NASDAQ:ARWR) closed Tuesday at $68.66, up $5.33. 

Aslan Pharmaceuticals Ltd., of Singapore, a clinical-stage oncology and immunology-focused company, said it priced its previously announced underwritten public offering of 5.12 million American depositary shares (ADSs) at $2.50 per ADS, with each ADS representing five ordinary shares of the company. The gross proceeds are expected to be approximately $12.8 million. The underwriter has been granted an option to purchase up to an additional 768,679 ADSs. The company intends to use the net proceeds, together with its existing cash and cash equivalents, to fund the clinical development of ASLAN-004 and ASLAN-003, a human dihydroorotate dehydrogenase inhibitor, and for general corporate purposes. Yesterday, it reported positive preliminary data from the lowest-dose cohort of its ongoing multiple ascending-dose study of ASLAN-004 for the treatment of moderate to severe atopic dermatitis (AD). The fully human monoclonal antibody binds to the IL-13 receptor α1 subunit (IL-13Rα1), blocking signaling of two pro-inflammatory cytokines, IL-4 and IL-13, which are central to triggering symptoms of AD, such as redness and itching of the skin. The company’s shares (NASDAQ:ASLN) closed Tuesday at $2.62, down 49.6%. 

Axovant Gene Therapies Ltd., of Basel, Switzerland, said it completed an amendment to its loan and security agreement with Hercules Capital Inc. that provides for a nine-month interest-only period starting this month that reduces the debt service burden by approximately $2 million per month. The covenant to maintain a minimum cash balance of $30 million has been eliminated. Axovant prepaid 50%, or approximately $15.7 million, of outstanding principal due without penalty.  

Bright Angel Therapeutics Inc., of Toronto, reported an extension to its seed financing round that will enable continued advancement of its lead program targeting the fungal heat-shock protein 90, which has been shown to be central to the emergence and maintenance of fungal drug resistance. Lumira Ventures and Viva Bioinnovator, the investment and incubation arm of Shanghai-based Viva Biotech Holdings, participated in the new financing. They joined co-founder and partner Schrödinger and seed investors Toronto Innovation Acceleration Partners (formerly MaRS Innovation) and Admare Bioinnovations.  

Intec Pharma Ltd., of Jerusalem, said it entered an ordinary shares purchase agreement with Aspire Capital Fund LLC that will purchase up to $10 million of ordinary shares over a 30-month period extending into 2022, subject to certain terms and conditions. There are no warrants, derivatives or other share classes associated with the agreement. Proceeds will be used to fund the company's research and development activities, for working capital and for general corporate purposes. 

Kodiak Sciences Inc., of Palo Alto, Calif., said it has initiated an underwritten public offering of $250 million shares of its common stock and expects to grant the underwriters a 30-day option to purchase up to an additional $37.5 million shares of its common stock. The company’s shares (NASDAQ:KOD) closed Tuesday at $49.20, down $1.85. 

Wize Pharma Inc., of Hod Hasharon, Israel, said the terms of certain convertible loans, which had approximately $1.52 million outstanding, due on Nov. 30, have been amended. Wize repaid approximately $760,000 of the total owing in cash, and the lenders have converted the remaining $760,000, retiring the loans. As a result of the amendment, the conversion price was changed to 27 cents per share of common stock. Additionally, the company has agreed to issue two warrants for each share of common stock issued to the lenders. The warrants have an exercise price of 27 cents per share and a term of five years.   

Xoma Corp., of Emeryville, Calif., said it has started a rights offering to raise approximately $22 million in gross proceeds. The holders of the company’s common stock and series X preferred stock and series Y preferred stock will be entitled to purchase up to 1 million shares of common stock at a subscription price equal to $22 per share. The company expects to use the proceeds to acquire additional potential royalty and milestone revenue streams, for working capital and other general corporate purposes. The company’s shares (NASDAQ:XOMA) closed Tuesday at $23.79, down 36 cents. 

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